Thinking of working for yourself?

Becoming self employed is the simplest way of working for your self. One of the first things you must do is register with H M Revenue and Customs.

How?

There is a form called SE1 available from HMRC or simply call the Helpline for the Newly Self _employed on 0845 914 4515 and have your National Insurance Number handy.


As a self emplyed person (sometimes called a sole trader) you will be issued with a Unique Tax Reference Number ( UTR) a 10 digit number.

You will begin paying Class 2 National Insurance of £2.30 per week

You must start keeping proper business records of all the sales you make and all the business expenses you pay out. Get receipts for everything you may need to prove you have spent the money.

Each year you will need to complete a Self Assesment Tax Return and pay Income Tax and Class 4 National Insurance on any profit you make.

For further information call us for advice 01908 375433
http://www.taxassist-mk.co.uk/