Need some help regarding everything self employed

Gl0ckage

Afternoon all,
My names Cameron,
I have just started as a courier for yodel, i am classed as self employed. They pay me 2 weekly or so, i use my own vehicle.

What should i be applying for tax wise?
What should i be keeping records of?
Should I speak to an accountant?


So far, i have made a folder with invoices, petrol receipts and any parts & services to keep the car running.

I have worked as a retail manager across a few sectors for the past 5-6 years and never done anything self employed.
My car is business use only, my 2 motorbikes are for going around town etc.

HappyMJ

You'll need a diary to record your mileage. You can make a spreadsheet yourself to record this. You can claim for either mileage at 45p/mile or actual costs incurred whichever is higher.

You'll need business coverage on your car insurance and keep the invoice for that too.

Keep the receipts for anything at all that you purchase during your work hours. You may be able to be claim for refreshments and some snacks required.

NYM

Check that your Insurers are aware that you're a Courier.

Gl0ckage

I have purchased top up business insurance. Should i tell my insurance company as well? it's by a third party insurer.

I have started a spreadsheet. thanks.

agrinnall

If you haven't done so already you need to register as self employed with HMRC, and it is very likely that you will need to enter Self Assessment.

https://www.gov.uk/new-business-register-for-tax

https://www.gov.uk/register-for-self-assessment

If you are not comfortable with the things that you need to do it may well be worth spending an hour with an accountant so that they can run through the basics with you.

Gl0ckage

Thanks, Just what i needed.

i have applied, waiting for a code to registered my self assessment.