Starting something new...

silverxx12

Hi

I'm thinking of starting freelancing online (accounts / bookkeeping) mainly because I need the flexibility but have no idea if I will be able to make a go of things.Do I need to be registered with HMRC before I start applying for work ? Are there any other crucial things i must before starting to work?


On a similar note if that doesn't work i may look into starting an e commerce job but i am faced with the same questions, if anyone can help ?

Many thanks

Silver

jobbingmusician

Have a look at the mystery shopping thread (normally a sticky I think) on the up your income board. Post 1 is full of helpful hints on starting up a self-employment.


https://forums.moneysavingexpert.com/discussion/5159122/mystery-shopping-thread-26-please-read-the-op-first-please-no-client-names-or-fees

Marcon

See https://www.gov.uk/set-up-business

Be careful about saying you are offering accounting services when you have zero grasp of how businesses work (or that's how your question comes over). Book keeping possibly, but be quite sure you don't overpromise and underdeliver.

Best of luck!

silverxx12

Hi Marcon,

Could you elaborate on your comment

'' about saying you are offering accounting services when you have zero grasp of how businesses work (or that's how your question comes over).''

I don't quite understand what I could be getting into or should not be getting into with that comment.

Regards

silverxx12

Hi Jobbingmusician,

I believe this comment basically applies to everyone who wants to start working for themselves;

If you wish to start Mystery Shopping on a self employed basis, even just one job, you need to register with Her Majesty’s Revenue and Customs (HMRC) within 3 months or you could face a fine of £100. Please don’t think that because you’ll potentially only earn a few quid doing MSing that you needn’t register as self employed – it’s absolutely essential that you do as being caught out can be costly

Is the 3 month period still valid or has that changed, do you know where it appears on the HMRC website...?
What would happens if you started trading without registering and then found out within the first three months that the business is a no go ie you are not making enough profit for it to be viable, would you still need to register??