Self employment

Eliza_2

I think I may be complicating things unnecessarily but am just about to register as self-employed having taken on an established small business a couple of weeks ago. Although it is based elsewhere, I am not involved in the day to day operation of it, just the admin, seeing accountants, banks, sorting insurance and so on side of it. For these purposes I am using my home office.

I already claim the £3 a week flat rate home office allowance as I work for an employer from home separately and am wondering about changing to individual item allowance now that I am working at this business from home too. However HMRC might think that the actual business premises would count as the office so I wouldn't be able to do that. In effect it's an hour's drive away so I wouldn't drive that distance anyway just to do the admin.

I am sole trader for the business at present, though some time in the future when things have settled down, we will go along the ltd co route.

Would be grateful for any advice, as I don't know whether to put the business premises or my home address on the s/e form.

Thanks

Horace

If you are registered with the HMRC as a sole trader already, you won't need to register again for the other business, you treat them as an additional client and invoice them. You then include details on your Self Assessment.

Remember too that if you have to visit a client in their office even if it is an hour's drive away you can claim mileage at 45p a mile for the first 10,000 miles. Sometimes it can be better to do admin in the client's office rather than your own.

Eliza_2

Horace wrote: »

If you are registered with the HMRC as a sole trader already, you won't need to register again for the other business, you treat them as an additional client and invoice them. You then include details on your Self Assessment.

No I'm not reg as a sole trader at the moment, those are the forms I want to do today. I'm registered for self assessment though, have been for years, as I have other little bits of jobs which individually don't pay much but together add up. I was reg as s/e sole trader in the past though.

Horace wrote: »

Remember too that if you have to visit a client in their office even if it is an hour's drive away you can claim mileage at 45p a mile for the first 10,000 miles. Sometimes it can be better to do admin in the client's office rather than your own.

Thanks, but in effect the actual premises is my own, not a client's. I just don't work from it. I don't have any clients.

Another thing, do I still have to pay any NI as self employed, as I'm over 60? I don't pay with any of my other jobs as my income is below the threshold with them all individually anyway.

Thanks

alien765

do i have to re register as self employed .i was self employed for 6 years then went employed for 3 months now self employed again.

Eliza_2

Yes you do if you de-registered yourself when you went into paye employment. If you never got round to deregistering yourself you are presumably still self employed as well.