How to cancel registration as self employed?

scotty88

Hi people

I am in need of advice. A few weeks ago I registered as a self employed sole trader. However, I have since decided that I want to instead set up a Limited company. I now need to cancel being a sole trader and register my new company. Anyone have any ideas how to do this? I'm guessing it is not as easy as just phoning up HMRC and getting them to cancel the application. Do I have to tell them that I am no longer trading as a sole trader and then fill in a tax return for the accounting period? I haven't started trading yet so there will be no tax to pay.

Any advice appreciated!

Cheers

Scott

00ec25

a sole trade is self employed, so you follow the process for ending self employment... it can be found online

https://www.gov.uk/stop-being-self-employed

scotty88

So I have to do a tax return still ??

TheCyclingProgrammer

scotty88 wrote: »

So I have to do a tax return still ??

Technically that depends on whether you’ll have any untaxed income from your business (eg dividends) but HMRC will likely insist you do one anyway as they like company directors to submit tax returns.

Dazed_and_confused

How are you dealing with the period from starting self employment to becoming a director?

But irrespective of that you are almost certainly going to need to complete a return even with this change in circumstances.