Registering as self employed - is it too late

clarity

Go here to register http://www.hmrc.gov.uk/selfemployed/iwtregister-as-self-employed.htm

supermonkey

Most of the info about (online or on leaflets etc) now states to register immediately, but there are a few places that still mention 3 months like this link:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/WorkingAndPayingTax/DG_4015975

I would also note that they used to say you may be fined if you dont register within 3 months. Now it says straight away, but I doubt you would be fined for registering 2 months later

Wendy75

Gosh, this is really useful to know, I'm in the process of registering as a childminder and last time I was s/e, the three month rule still applied. That was ages ago, but I think they're still saying three months on the childminding course I did. I shall spread the word to the other students!

emsywoo123

I registered alst week..........my accountant still said it had to be within 3 months :eek: I have been trading for 2 and a half!!!!!!!!!!

dulcificum

What happens if you've been trading for say 4 months but you only tell them you've been doing it for 2 months? What can they do?

debbie42

dulcificum wrote: »

What happens if you've been trading for say 4 months but you only tell them you've been doing it for 2 months? What can they do?

What can HMRC do if they find you've lied to them? Quite a lot, I'd imagine I wouldn't personally risk their wrath for a potential fine of £100.

dulcificum

How would they ever find out especially if it's just a month or two? £100 seems very steep.

Savvy_Sue

It seems that very few people HAVE been fined for not registering within 3 months, but it might partly depend on what your turnover in that time has been.

I really wouldn't recommend not being honest with HMRC!

dulcificum

What is the penalty for not paying the fine?

Savvy_Sue

Not somewhere you want to go ... interest, court proceedings, ultimately bankruptcy! HMRC will, apparently, quite happily bankrupt people who don't pay them.