I am self employed and its easier than you think -
register with the inland revenue and they will send you lots of details.
I made one phonecall to the inland revenue and they sorted out my NI which is a direct debit once a month for around £10 -12
and as for tax - you can do it yourself online which i did for 4 years - but the last 4 years i got an accountant who is more than worth paying for. - thay know all sorts of ways to reduce your tax bill.
Then remember - early to bed, early to rise, advertise, advertise, advertise!
To start self employment all you need to do is start work, tell the national insurance office and the local tax office.
Speak to the tax people as they are, against all stereo types, very helpful.
All you then need to do is to keep a record of every payment made to you and every payment you make for materials or the running of your business. Open a spread sheet to do this and it makes everything easy. Do a page for each month and label it etc and let the spread sheet keep a running total of income and expenditure for the full financial year. When you eventually need to fill in a tax return you will do it in hours and not days.
Best thing to do is go to your local tax office and ask them - they're very helpful.
Come up with a name for your business and check out the name to make sure you're not infringing on anyone else's copyrighted name - check online, you should be able to do that fairly easily.
If you need to employ people in your business, then you need to find out about your responsibility to them and things like organisation of working time and filing for them, you can find all that out online.
If you intend to rent a premises, then you need to sort insurance and rates and whatever other charges will apply - talk to your local council about this.
Finally, organise your books, open a bank account for the business and start trading!
and it's a good idea to try talking to you bank, they'll have a business account manager that should be able to help. And once you are organised, get an accountant to take care of all the details relating to tax etc. They'll tell you what you need to do/keep/put aside, and take care of it on your behalf - this isn't as expensive as you may think and in my experience, is completely invaluable
Hi, the best thing is to fully research everything before you jump in at the deep end. there are loads of general advice organisations like business link, small business bureau, small business advice service, there are also some who specialise in support for women, young people, people over 50, BME groups etc, if you want to find details of these you should contact business link for other sources of support.
if you are lacking direction or business know-how you may wish to do a business planning course too for extra support.
i have chosen a selection of links with sources of help which may be useful for you.
Answers & Comments
Verified answer
I am self employed and its easier than you think -
register with the inland revenue and they will send you lots of details.
I made one phonecall to the inland revenue and they sorted out my NI which is a direct debit once a month for around £10 -12
and as for tax - you can do it yourself online which i did for 4 years - but the last 4 years i got an accountant who is more than worth paying for. - thay know all sorts of ways to reduce your tax bill.
Then remember - early to bed, early to rise, advertise, advertise, advertise!
Good luck, hope it goes well
.
To start self employment all you need to do is start work, tell the national insurance office and the local tax office.
Speak to the tax people as they are, against all stereo types, very helpful.
All you then need to do is to keep a record of every payment made to you and every payment you make for materials or the running of your business. Open a spread sheet to do this and it makes everything easy. Do a page for each month and label it etc and let the spread sheet keep a running total of income and expenditure for the full financial year. When you eventually need to fill in a tax return you will do it in hours and not days.
Best of luck and enjoy what you are doing.
Depends on your field
When I was in the UK as a contract Engineer I was through a composit Ltd Company, Look up Brookson engineering.
You still need an agent or Agents to get you the work, but Brookson take care of you invoicing, contract and most of your tax issues etc.
Best thing to do is go to your local tax office and ask them - they're very helpful.
Come up with a name for your business and check out the name to make sure you're not infringing on anyone else's copyrighted name - check online, you should be able to do that fairly easily.
If you need to employ people in your business, then you need to find out about your responsibility to them and things like organisation of working time and filing for them, you can find all that out online.
If you intend to rent a premises, then you need to sort insurance and rates and whatever other charges will apply - talk to your local council about this.
Finally, organise your books, open a bank account for the business and start trading!
Good luck!
business link are very useful
www.businesslink.gov.uk
and it's a good idea to try talking to you bank, they'll have a business account manager that should be able to help. And once you are organised, get an accountant to take care of all the details relating to tax etc. They'll tell you what you need to do/keep/put aside, and take care of it on your behalf - this isn't as expensive as you may think and in my experience, is completely invaluable
Hi, the best thing is to fully research everything before you jump in at the deep end. there are loads of general advice organisations like business link, small business bureau, small business advice service, there are also some who specialise in support for women, young people, people over 50, BME groups etc, if you want to find details of these you should contact business link for other sources of support.
if you are lacking direction or business know-how you may wish to do a business planning course too for extra support.
i have chosen a selection of links with sources of help which may be useful for you.
http://www.hmrc.gov.uk/pdfs/sabk4.htm
http://www.sbs.gov.uk/sbsgov/action/home?&ref=http...
http://www.smallbusinessadvice.org.uk/sbas.asp
http://www.clearlybusiness.com/advice-and-support/
http://www.starttalkingideas.org/
http://www.rebecca-swift.co.uk/courses.aspx
http://www.startups.co.uk/Start_up_guides.cy4fI_No...
http://www.shell-livewire.org/
good luck with your venture
try to get a job news papers, there business base in home been advertised, you can ask them an enquire about those business...just have a look...
Not a very good start - having to ask.