Becoming Self-Employed? A guide for who to tell, how and when
You need to inform HMRC when you start working for yourself. You should do this immediately and certainly within 3 months. You can either call HMRC’s helpline on 0300 200 3300 or you can register online.
Information that you will need to register as self-employed:
- Your National Insurance number
- The contact details of you and your business
- The date that you started self-employment
- If you have completed a tax return before, you will need your UTR number (unique tax reference number)
Once you are registered, HMRC will send you a letter that tells you your UTR number (unique tax reference number) and will also send you a tax return when you are required to complete one.
You will also get a bill for National Insurance contributions. This is usually paid 6 monthly and the notice will include details of how to pay.
You should register to complete your tax return online—if you do not the deadline for tax return submission is shortened from 31st January to the 31st October. Visit www.hmrc.gov.uk.
TOP TIP: Do not leave online registration to the last minute, as you need to apply for and enter an authorisation code that has to posted out to you.
Of course if you appoint an accountant, they will register for you and deal with any HMRC correspondence. They should also prepare your tax return online for you, using their systems and therefore you won’t need to register with HMRC’s online system. If you need help with this please contact Stacey Mcveighty