You will need a National Insurance Number to register as a Self-Employed. You need to register at gov.uk.
After you register, you will receive a letter from HMRC with your Unique Taxpayer Reference (UTR) number.
You do not need to open a business bank account. All payments and expenses can go through your personal account. Taxes and social security contributions are calculated and paid once a year in the Self-Assessment system.
Self-Employed registration is not the only way to run a business in the UK and thereby record your employment history. You can run a business as a Sole Trader, set up a Partnership or a Company (LTD).
Our consultants will help you decide which is best for you and your business. Professional accountants of Great Way will also help you register as a Self-Employed correctly, check that your UTR number is linked to your Self-Employment and assist you with submitting your Self-Assessment by the end of the financial year.
Book your free consultation on our website or just call the nearest office!
