21 Sep Going self employed
How do I register as self employed?
When you make the decision of going self employed you need to contact H M Revenue & Customs and fill in the form CWF1. You will be given 3 months from the date you first start trading to complete this however, if you are late, HMRC could issue a penalty. Class 2 National insurance payments may also need setting up too, depending on your circumstances, from April 2016 these payments can be collected via your tax return!
Working for yourself and becoming self employed can be very rewarding, however it is always advisable to seek professional help first.
If you are starting out as a freelancer or sole-trader the processes of becoming self employed are fairly straight forward however, if you are considering trading as a Limited Company my advice would be to seek professional help as this is more complex and requires a detailed set up process.
That’s the basics of how to register as self employed, there are other issues to consider such as banking & financing, marketing & promotion therefore, If you would like to speak with me I am available for out of hours meeting if necessary.
The ‘Going Self employed’ page on our website provides a few of the basic forms required to register as self employed with HMRC.