self-employed as a side job - what am I forgetting?

supersaverkerry

I am thinking of doing some odd bits and bobs on a self-employed basis, this will include some work as a PA/carer, babysitting and pet care.

I am trained to level 4 in health and have 5 years experience so know what I am doing, I plan to take insurance of course.

Until now I have only worked as an employee and I still plan to do this on an agency/bank basis but have found in my area there are people looking for a PA/carer who can do a drop in a couple of times a week to help with cleaning, showering etc.. or to cover holidays when their staff are off ill. So basically I will offer myself as a relief carer.

I know I have to register for tax as self-employed, basically I will be a sole trader I think is the term? It will not earn me much, maybe a couple of thousand a year but every little helps!

Can anyone think of other costs associated with the legal side of things? My friend told me today I have to pay about £150 to register my name as a business name, is this true? I plan to just use my name to trade by and set up a business bank account.

I thought my outlay would be small since everything I do will be in other people homes so no need for products etc... I am just offering services and then I just have to keep on top of things like mandatory training but perhaps I am missing something, i am not very business savvy tbh I was just looking at this as it is a job I enjoy and saw the need in my area.

Sorry if I sound stupid and clueless!

Niowrtt

No need to register a company name, best to just trade under your own name but it doesn't really matter as a sole trader as long as it's not infringing someone else.

For low incomes, get a National Insurance exception certificate to exempt you from paying class 2 tax. This applies to just your sole trader income, so it will apply - you won't need to pay NI, just income tax. All you need to do then is remember to do self assessment every year (online) then pay the tax on time.

Your outlay to start up can be £0 if done online (I think you can do it all online but it was a while ago I did this - maybe budget for a stamp )

It's a pain get started but once you've filled out the forms it's relatively straightforward.