There are 4 things to complete if you’re self-employed:
- HMRC – register with HMRC to pay income tax and national insurance. You will need to do this by 5 October in your business’ second tax year
- self-assessment – register to pay your tax each year. The payments will usually be due on 31 January and 31 July
- VAT – register your business if your turnover is over £83,000
- records – keep accounts of business income and outgoings.
Contact us to discuss self-employment.
