As soon as you start a new business you need to register as a self-employed individual with HMRC. If you have completed your tax returns before you are still going to be required to register for the self-assessment and class 2 national insurance as a self-employed person. Ensuring that you have completed your self-employed registration is essential because if you don’t register by 5th of October in your business’s second tax year than you may be facing the threat of heavy fines. In order to avoid this you should register as soon as possible.
How you do your self-employed registration depends on the kind of business model that you select. You can either be a sole trader, or a partnership, or a limited company. With the help of our services you can make an informed decision and no have to worry about the registration process.
We will handle everything related to your self-employed registration for you.
Once you are enrolled for self-assessment you are officially and legally self employed and will then have to pay taxes as a self-employed individual.