Registering for self employment

<b>Are you self-employed?</b> HMRC’s guidance says that you are probably self-employed if you: <ul> <li>run your business for yourself and take responsibility for its success or failure;</li> <li>have several customers at the same time;</li> <li>can decide how, where and when you do your work;</li> <li>can hire other people at your own expense to help you or to do the work for you;</li> <li>provide the main items of equipment to do your work;</li> <li>are responsible for finishing any unsatisfactory work in your own time;</li> <li>charge an agreed fixed price for your work;</li> <li>sell goods or services to make a profit (including through websites or apps).</li> </ul> <b>Your legal obligations if you become self-employed</b> You will need to register as self-employed if you earned more than £1,000 from self-employment between 6 April 2018 and 5 April 2019. If this is the first time that you are required to submit a tax return, you must register by the 5 October in your business’s second tax year. This is not a deadline to ignore as there are penalties for late notification. <b>The newly self-employed must also register:</b> <ul> <li>to pay Class 2 & Class 4 National Insurance contributions (NICs) if applicable, and</li> <li>you should monitor your turnover as registration for VAT will be necessary if sales exceed £85,000 over the preceeding twelve months or if you expect it to exceed this limit in the next three months.</li> </ul> If you are concerned that you may need to register as self-employed, and are uncertain what to do, please call, we can take care of the formalities for you.