New business, tax etc

crum

Hi,

I'm in the process of planning everything in readiness for taking the plunge into self employment. I will still be remaining in my present employment until I build up some clientele so I have a couple of questions to help me on my way please.

1) I have a logo & name, but intend to trade as a sole trader. Is this OK, do I need to register the name?

2) Obviously I only pay tax on what my profit is but what about NI, am I correct in thinking I don't have to pay this if my self-employed earnings are below £7k? or is my PAYE employment taken into account meaning i'd have to pay £2.50 per week?

Many thanks in advance for your response

bengalknights

1) No you dont need to register the name just us xx trading as xx
2) Unless you get the exemption certificate you would have to pay