Self employed sole trader
Self employed or sole trader is the simplest way to start your business. No preregistration is required. You need to notify HM Revenue & Customs and we can get things set up for tax purposes. We can advise and register you for VAT. Please see Related links: the VAT related topics.
If you are in construction, please read Related links : The Construction industry. We can register you for the Construction Industry Scheme (CIS) if applicable.
You need to file an annual tax return and this will normally need to include income from before you started as a self employed sole trader.
All taxpayers are subject to the inspection and enquiry process. Please see Related links: Tax inspections and enquiries. Also the Book-keeping guide is important in this respect.
If you are considering registering a limited company please see Related links: Do I need a limited company.
