We act for many sole traders over more than 30 years of trading and we continue to do so for hundreds of people.
You’re probably self-employed if you:
- run your own business and take responsibility for its success or failure
- have several customers at the same time
- can decide how, where and when you do your work
- can hire other people at your own expense to help you
- provide the main items of equipment to do your work
- charge an agreed price for your work
- sell goods or services to make a profit (including online)
There are basic requirements we assist in completing:
- You must notify HMRC by 5 October in your business’s second tax year. You could be fined if you don’t.
- The UTR (Unique Tax Reference) you will be given will be with you for life (except in special circumstances). This will be the basis of your tax payments and your National Insurance contributions.
- You must consider if you need to register for VAT. You must check the VAT limits and if you exceed them register immediately. If you do not exceed the limits but still want to register you may be able to do so.
- There are proposed changes to the tax system – digital taxation – which come into effect for some people on 1st April 2018, and for others on 1st April 2019.