How to register as self-employed

Are you going self-employed for the first time? Are you thinking about starting your own business? Have you thought about when to register as self-employed with HMRC?

Unless you’re setting up a limited company, it is vital that you fill out a self-employed registration form from the moment you actively seek work. If you do not register at this point, HMRC can penalise you up to £100.

When do I need to register as self-employed?

• As mentioned above, it’s important to fill out a self-employed declaration form from the moment you actively seek work for the business. Whether you receive payment for business the day after, or 5 years from that point, does not matter. You must register the moment you start looking for business.

• If you fail to register within 3 months of the end of your first month in business, HMRC will fine you up to £100.

How to become self-employed

Registering as ‘self-employed’ has never been easier. It can be done:

• Online: Simply visit: https://www.gov.uk/register-for-self-assessment/self-employed?step-by-step
• By phone: call HMRC’s self-employed helpline: 0845 915 4515

Yes, it’s easy to register as ‘self-employed’, but what does it mean to be self-employed?

Responsibilities of being self-employed

Being self-employed brings with it some responsibilities. You must:

• Cover the costs of your business
• Keep accurate records of your business income and expenses
• File for self-assessment every year
• Pay income tax (with self-employed tax rates) and national insurance contributions to HMRC

Self Assessment

So, if you’re a self-employed taxpayer, it’s vital that you take control of your taxes and file your tax return each year. You can choose to file your self-assessment on paper or online. The deadline for filing by paper is 31st October, whereas the deadline for online submission is 31st January. For more information on how to avoid deadlines and penalties.

Filing your self-assessment online is by far the easiest option, and we at GoSimpleTax can provide you with a stress-free alternative to HMRC’s online service.

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Blog content is for information purposes and over time may become outdated, although we do strive to keep it current. It's written to help you understand your Tax's and is not to be relied upon as professional accounting, tax and legal advice due to differences in everyone's circumstances. For additional help please contact our support team or HMRC.