No UTR number

Gecko10

Hi all, help would be much appreciated. I have been asked by a friend to do some work for his firm from home on my laptop, it's only a small amount of money per month (no more than £200) and I have agreed. I am not self employed so have no UTR number, but his company have asked for one, do I have any other options? Would it be worth setting up a limited company just for this small amount, some other future work could come out of it though.

Dazed_and_confused

If you aren't self employed then won't you be an employee of your friend?

There tend to be more costs involved with setting up a limited company when compared to being self employed so it may not be cost effective for £200/month

DevilsAdvocate1

I'm self employed and have a UTR number. However, I don't have a limited company set up. I just registered as self employed and have to do a tax return each year.

I use a simple spreadsheet to keep track of expenses and income.

vegasvisitor

You have to register as self employed to do this work. They are asking for your UTR number to ensure you are self employed. All you need to do is register as self employed. There's no need to set up a limited company, as you don't sound like you're taking on work that warrants the limited company.

Gecko10

But I am emplyed full time elsewhere, is it an issue to set up self employed alongide that?

glennevis

No.


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Energize

You can register as self employed at no cost, I think from next tax year you can earn up to £1000 without being registered self employed which is very sensible, the current situation of having to register as self employed to do a one off £200 job is pretty ridiculous from an administrative perspective. As it is many people don't bother to register for small cash in hand jobs.

agrinnall

You don't have to be self employed to get a UTR, anyone can get one, I have one and I've never been self employed (I did run my own limited company, but that was long before the introduction of UTRs).