Self employment - easiest way?

sprucegs

Hello
I'm wanting to go self employed. I have managed to get some work, but I am required to go self employed. How do I go about doing this? Is there anything I should look out for? Keep all receipts? Open another bank account?
Many thanks.

DomRavioli

You register with HMRC as self employed. Visit the HMRC website as to what you need to keep with regards to accounting and records.

c-m

To go self employed, you just choose to go self employed.

You have to register with HMRC within 3 months. That's it in terms of the basics.

Keep a note of your self employed expenditure and income. This is most easily done by using a separate bank account. It need not be a business account, at least at first. A simple basic account would be fine depending on your area of business.

paddyrg

sprucegs wrote: »

I have managed to get some work, but I am required to go self employed.

There's also an important point here - it's not you who decides you're engaged on a self-employed basis, but HMRC. Some jobs simply cannot be 'self-employed', despite employers claiming they are for tax purposes.

If you can give a broad description, or have a look at this
https://www.gov.uk/guidance/employment-status-indicator
you'll get a steer. Worth being sure.

HappyMJ

sprucegs wrote: »

Hello
I'm wanting to go self employed. I have managed to get some work, but I am required to go self employed. How do I go about doing this? Is there anything I should look out for? Keep all receipts? Open another bank account?
Many thanks.

Required to go self-employed? You should never be "required" to go self-employed by anyone. Did you apply for a job?

Did you advertise your services to the client? Normally most self-employed people would advertise the business to the client and if the client is interested they'll commission your business to carry out the work.

Or did you find a vacancy and give the potential employer your CV?