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How To Register As A Sole Trader - HMRC - UK
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- Опубліковано 18 сер 2024
- How do I register as a Sole Trader?
Here we talk through the process and specifically what you need to register for
Link to setting up as a sole trader www.gov.uk/set...
Link to SA1 (registers you for self employment and self assessment) www.gov.uk/gov...
Link to CWF1-LC (registers you for self employed & NI) public-online....
Link to register for self assessment if you are already registered self employed www.gov.uk/reg...
www.taxtalk.uk
The video is titled HOW TO REGISTER AS A SOLE TRADER, it tells you everything about why you need to - but does NOT - SHOW you HOW. Very disappointing.
Thank you for watching and for the feedback, we are not able to demo the forms required as they can only be progressed by entering personal details, we will look as to what could be provided as an interim to this though and break it down for the different scenarios. Depending on which is the right route for you, all of the links to register can be found in the description
Very, very useful. Thanks so much for the broadcast 🙂
Thank you for watching!
thank you for the guidiance
Thank you for watching
Thank you for the insight! I have subscribed to your channel. Please I have few questions:
1. I have a National Insurance Number already and I work for another company, my sole trading is a weekend service, can I have a separate Insurance Number for the business?
2. I will be the only Staff of the company, others are freelancers and I read, I am not responsible for their TAX and Insurance, since they are freelancers or contractors. Is it possible I pay TAX and National Insurance for only myself as Staff?
3. If the company where I work is aware that I run a weekend professional service, Is there any implication if I pay TAX and National Insurance as an employee of that company I work for and also as a sole trader of my own company?
Thank you
Thank you for watching! Here are our videos which will answer these questions for you, hope this helps
ua-cam.com/video/_iUgcL3ur7o/v-deo.html
ua-cam.com/video/HgU4KVUcX1A/v-deo.htmlsi=OrCujgeZYwh97_Yu
ua-cam.com/video/qFe03KQ5jEM/v-deo.html
I found the content itself quite useful but the delivery was SO difficult to follow. Long winded sentences that seemed to just blend into each other, no difinitive end to statements. I had to rewind and relisten to much of this video just to ascertain what points were being made and where the sentence ended. Felt extremely inconcise for a subject where clarity is everything.
Thank you for the feedback, thank you for watching
I don't understand I want to register as a sole trader.. I can't find the link.. the link you gave sent me to "register as the sole trader" and my only choice is... "register for self assessment" .. is there a place to first register as a sole trader??
Thank you for watching, you will need to register for self assessment first, unless you already have a gateway accoount www.gov.uk/register-for-self-assessment
Hi thanks for your help. I’ve just registered for self assessment if not self employed (SA1) using the link in description. Will this give me a UTR number as I am wanting to register for CIS. Just double checking I have followed the right steps?
Thank you
Thank you for watching! Yes, HMRC should send you a UTR in around 10 days time, once you have received this you will be able to call the CIS helpline to register for CIS. Also, you will need to register separately for Class 2 NINO, you can do this by calling the helpline, or completing this form public-online.hmrc.gov.uk/lc/content/xfaforms/profiles/forms.html?contentRoot=repository:///Applications/NICs_iForms/1.0&template=CWF1_en_1.0.xdp
My question exactly.
Hi! gosh this is a bit confusing, so in the HMRC website when you click to register to sole trader, then asks you to register the self assessment, when you click on that it gives 3 options, being already self employed, you're part of a partnership and then a 3rd option which says an other reason. my situation is that I'm not self employed and I work full time so not sure where to start
Thank you for watching! This guidance is for registering as a sole trader, this is self employed. Registering for self assessment, if you are not self employed then you would select an other reason, HMRC will then generate you a UTR; it is confusing because the terminology is similar!
Hello, thank you this is very helpful!
Once I have filled out the SA1 form do I have to wait for my UTR before I can do the CWF1-LC? Thanks
Thank you for watching! If you have completed the SA1 form then you can complete the CWF1 straight away
Hi. Thank you for the information. I think I may have registered for the wrong thing on HMRC. I am staring my small business as a sole trader but I registered for personal tax instead. I need my UTR to start trading. I'd really appreciate your help. 😍
Thank you for watching! If you log back into the personal tax account then you should have the option to add self assessment & then select sole trader, you should then see your UTR in your personal tax account once it is issued, good luck with your trading!
Thank you for your help, very informative!
Glad it was helpful! Thank you for watching!
Hi thanks for the video. I can’t find the cwf1 form to submit online only the printable version. Would you have a link for that?
Thank you for watching, you would only complete the CWF1 form if you are unable to use the online services, to use online services follow this link www.hmrc.gov.uk/online/new.htm
Do we fill the SA1 form to register as sole trader and for self assessment? Or is there a different form for both?
Thank you for watching! If you are able to use online services then the easiest way is to register online, this will enable you to register for self assessment and as a sole trader (ie for Class 2 NI) at the same time, here is the link www.gov.uk/register-for-self-assessment
Hi I’m pretty new to all this, I work a normal job but I also want to start a business I’ve just registered for self assessment. What do I do now. After the assessment it just said return back to hmrc.
Thank you for watching
You should receive the UTR in the post but you don’t need to wait for that to start trading
Here is our video on side hustling ua-cam.com/video/_iUgcL3ur7o/v-deo.html
Here is our playlist with some of the core topics for tax studio.ua-cam.com/users/playlistPLkpP8esdBU5nkhCatrcB_3EWCcM1hC16T/videos and other aspects studio.ua-cam.com/users/playlistPLkpP8esdBU5nMMcBQuFpz0lMaIIgVefsw/videos
Good luck with your venture!
Hi, Thank you so much for this clips but i am a self employed already and wanted to do sole trader as a part time and how should i deal with hmrc about please ? do i need to have 2 account with HMRC thank you for your support
Thank you for watching, here are the videos that will help you with understanding this
How Do I Register Two Sole Trader Businesses?
ua-cam.com/video/ilDNnTmg7ho/v-deo.htmlsi=1zBf9Ksf6tmV-B3T
How Do I Submit Details For Two Sole Trader Businesses On My Tax Return?
ua-cam.com/video/AJ7LeJXJtVw/v-deo.htmlsi=9SBvItKuRKxpqZwD
What Is A UTR Number And Which One Do I Need?
ua-cam.com/video/HgU4KVUcX1A/v-deo.htmlsi=sDo1vs-7JnktikhJ
Thank you so much
Hi ive just registered my business couple of days ago, however i dont like the busniess name i chose, can i change this?
Any help would be much appreciated
Thank you for watching, as this is the sole trader video, Im making an assumption that you are a sole trader & yes you can change the name in that case, here is our video about business names ua-cam.com/video/oBlIpRU7tfU/v-deo.htmlsi=QrmF-ml9XOZ0pUHN
@@TaxTalkUK thank you so much for your help
If I am starting a small business along side my job, will this effect the tax at my job.
This is covered in this video, hope it helps! ua-cam.com/video/_iUgcL3ur7o/v-deo.htmlsi=JHg4coMIPMjwYbp1
How much can i make before registering for sole trader? I make about 250 month from side hustle
£1000 (turnover) per tax year
hi im currently self employed cis how would i register an additional business
If you are a self employed CIS sub contractor & start working for a contractor that you haven't worked for before, you need to give them your details, including your UTR number, they will then verify you with HMRC - is this the scenario you mean?
You are so informative but so brutal to listen to. Ummed more then words spoken
I'm conscious of it & working on it, it is a free resource though, we provide the best we can to try to help!
Hi
This is very useful.
Currently i,m not a self employed and having a NI number. If i'm going to register as a sole trader do i need to get a new NI number again specially for the business??
Thanks.
Thank you for watching & for your feedback. You only have one NINO forever, when you register as a sole trader, or self assessment for any other reason, you will be given a 10 digit UTR - Unique Tax Reference - this also you will only have one of - good luck with your venture
Useful information threaded into a verbose presentation. It could be improved with some presentation training to save thousands of people unnecessary pain. I'm a registered sole trader so I already have a UTR and want to change add another name this presentation was a bit murky as to how to do this ...I'll surf about online and try and find out how ie add another sole trader name. clearer step by step guide re online routes to 'keep it simple' would help too with website info and routes etc
Thank you for your feedback & watching, you only have one UTR no - if you have two sources of self employment then you complete two self employed sections of your self assessment tax return, however you don't need to register the business name as such if you are a sole trader
Hi am currently a sole trader but earn less than £1000 a month do I still need to register on hmrc thanks😊
Thank you for watching! Yes you will need to register, the £1000 trading allowance is an annual one