Hey guys, before registering as a sole trader it's important to setup the correct type of business. I've made a video comparing sole trader vs limited company which should help with making the right decision! Here it is: ua-cam.com/video/JUY0bX-BKQk/v-deo.html To schedule a 1-to-1 coaching call with me: bit.ly/3UbUSeN For those asking about virtual addresses then I highly recommend 1st formations: 1st-formations-limited.sjv.io/c/2683763/899281/12045 Thanks for all the lovely messages and if you need any help then feel free to ask, I aim to answer every single question on my channel! Good luck for now 🙌
Hi, I’m trying to follow these steps but it does not add up to what you see on screen. There are certain differences in the pages on this video and the ones the appear on gov website. No matter which way I navigate the process I still find options coming up that aren’t in this video such as adding a business tax summary? Very confused as to what went wrong and what I need to apply for as a person wanting to work as self employed in order to join companies that take on a contract basis etc
It asks for details regarding business registration etc. I don’t have a business or work for one I am trying to get UTR Number in order to work for a company as self employed. Therefore I don’t have a company address contact details etc to provide.
Hey there, I'm not sure what's going wrong here but I'd highly recommend you get in touch with the support team on gov.uk and find out what the issue is ☺️
Thanks for the video. When applying for the first time for the tax year April 2023- April 2024 the October deadline to register is it by Oct 2023 or Oct 2024?
Hi Dave, if the option isn’t there then I would advise calling the customer helpline in the videos description to find out what’s going on and where it has been moved to if so. Let me know how it goes and good luck!
So from the perspective of an individual who's never been registered as a Self-Employed, would've been nice to cover what are the commitments or procedures. If previously I worked as a full-time employee of an organisation or company, and in between changing jobs I think I could freelance and I register as a self-employed however, I don't manage to make any income during the period of my self-employment - do I still need to spend time to complete forms and submit them and be worried if I don't do it before a certain deadline, I would get penalties and other debt letters from HRMC? How about if I got back to full-time employment in the meantime, do I need to unregister and dissolve the Self-Employment account? - I'd rather keep everything under 1 account (tax id) as HMRC are notorious for messing up the wages and the tax codes. One month they say they owe you money and the next one they say you owe them twice as much. 👎🏻
Hey there, thanks for your comments and these questions will certainly help me help you guys going forward! Unfortunately I’ve just seen this comment and given the time it’s been left it I’m guessing you have the answers but if not, feel free to ask anything in a new comment so I get notified and I’ll get back!
Hi, please I would need your support and direction. I mistakenly ended up opening a limited company when indeed It was self employed/sole trader I wanted, this is before I watched this video. However, what I needed this for insist on self employment/sole trader status. What do I do now? Do I have to create a self employed account again which wouldn't affect me in anyway?
Hi. We're you already registered as a sole trader because you got you UTR number straight away on the screen. I'm still waiting to receive my UTR number
Hi Mario, if i was to register for self assessment and then wanted to stay employed for a couple of months, is this possible? or as soon as i register for self assessment am i required to be working as a sole trader
Hey there, I don’t think you’ll be able to become self employed as a non citizen but you would be able to setup a limited company instead to carry out your business 👍
the problem is i need to register my business or else I cant use this website and this website is crucial in generating money so I cant earn money until I register but I cant register until I earn money?
Hi Ben, who said you can’t register until you earn money? You can register for self employment at any point in your life as long as you’re over 18. The £1000 threshold is the mandatory threshold but this doesn’t mean you can’t register before that. Good luck with your business 🙌
Hey, yes it is but it would depend on whether you’re registering as self employed or a limited company. If you’re not sure on which one then I have a separate video on that so feel free to check it out: ua-cam.com/video/JUY0bX-BKQk/v-deo.html
Great content! I am learning so much from you. I have a question, I am sorry if it is silly. If I am currently in full time employment, but have set up a limited company and allocated myself the role of Company Director and 100% shareholder, do I need to register as self employed? If not, what do I register as, or do I just get an accountant to manage this additional income stream that I will have from the limited company?
Hey it depends on whether you want to be paying yourself from the limited company or not in the form of PAYE or Dividends. If you won’t be paying yourself then you won’t need to register as anything as just get your accountant to do the accounts 👍
So once this is done you are a registered sole trader business? And afterwards would you advise speaking to an account about creating a deeper age bank account to your personal one etc
Hi C, yes that's right, after this you'll be registered as a sole trader and will begin filing for self assessment tax returns. You'll have to educate me on that deeper age banks are?
Yes mate, particularly on that HMRC website, I feel like even an experienced lawyer would struggle to understand some of the language they use (if they didn't get bored of it first)
If I am international student and after my studies I decide to work as full time UA-camr and make my money through UA-cam will I be able to become self employed and get citizenship in uk
hi, i have already a Gateway id +Password + UTR but i believe its for personal use...or can I use the same details for registering as a business [sole trader]??
Hi Mario! I followed this video as a guide and did everything the same way you did it. However, on my personal tax account home page there isn't a clickable section saying 'self assessment ' I also have no idea if I have a UTR code on the way. Have I done something wrong?
Same, i registered and I dont see a 'self assessment' section. I dont know if i'm been accepted and my UTR is on the way. Did you get any update? Did you UTR arrive?
@@yu-huiyang6959 Its weird, even the government does a poor job of explaining it. The website is no help either as to what you're supposed to do next. I applied for the UTR a while ago now and i still haven't received a letter or got an email to say if I've been accepted or rejected. The whole process is a shambles
I came across this video and this has helped me immensely - thank you. I was going through so many different channels (links) to register as self employed with HMRC and now this is a simplified method. Thank you for your business tips. This is my first encounter going down this route as self-employed and I have faith that I will get through this with perseverance. Good luck to all those who have decided to take this route of self employment.
Hey Malibu, that's a lovely message! The road down self employment can certainly get bumpy at times but it has much better views! Good luck and please keep me posted on how you get on with it 😊🙌
Regarding the Gov Gateway set up, do you create a new account for your sole trader business, or do you use your current account with them? For example, I am fully employed by a company, but I am looking to set up as a sole trader also for weekend work etc. Do I us emy current gateway account, or would it be safer to set up a new/second account?
How can you register for self-assessment if you can only confirm your identity with Payslips and don't have a UK Passport Credit reference or Northern Ireland driving licence?
Hey Lulian, it send Alina has answered the question here but for anything else I would contact gov.uk by phone, their telephone service is very useful and in much clearer English than their confusing website 👍
I was in uk for last 1 year and want to claim the tax return but while registering for utr it asking for uk passport or Netherlands passport details..I don't have those details as my original country is different
Thanks for this. Really useful. Do you know if I need to create a new [separate] Government Gateway account for my sole trader business? I already have one for my personal things like childcare hours etc. Many thanks.
Thanks for thos helpful content. Very informative. Question: I curently have a full time job but would like to register as a sole trading company (before switching to a limited company in the future). I do have an existing account with HMRC howevere, following your steps on this video, iam being asked to state the date the business started, even though i havent been able to register the company yet as a sole trader. Can you please provide some help with this? Is there another indépendant site to register as a sole company before appliying to HMRC?
Thank you for the video, Mario. It's absolutely helpful. Is there any problem if I register as self-employed, already having an LTD company in my name?
Great video well presented - quick question if I became s/e in June 2022 - would I need to wait until after April 6th 2023 to register to complete a return by 31 Jan 2024? HMRC says has to be done in the second tax year after the start date!? Many thanks LJ.
I marked that I have no UTR number. They asked to confirm my identity but I don't have the information they ask for... My options are: UK passport, Credit reference questions, Northern Ireland driving licenceWhat can I do? I just have credit reference. What can I do?
Hi mate! I've followed all the steps but when i get to my 'Account home ' page (9:01) I don't have any option for Self Assessment. I can't find anything anywhere to even say that I've even completed the process. Do I need to wait for a UTR to come through or have i done something wirong? Would appreciate any help or advice. Thanks for the upload, liked and subbed!!
Hey Omar, apologies for the delay in getting back to you! Yes you'll need to edit for your UTR before you can sign in. If you're unsure whether you've properly completed the process then feel free to contact HMRC on the number provided in there videos description 🙌
very helpful video but i cant register because i dont have any two items to select from the given check boxes ( uk passport,) in this case what would u refer to do fir me get the self assessment
Hi! Great video, thank you :) I have a quick question - I haven't earned £1000 yet, as I am just beginning the process of starting a business. However I am looking at buying a website domain name and when I put down that it was for business, it required my company name. I am also looking at setting up a bank account as a sole trader, but I assume that will also require a company name - so my question is this: shouldn't I register as a sole trader before doing these things so that I have a name to put down? Will I be allowed to register as a sole trader if I haven't earned £1000 yet?
Hey there, although it is for your business if you’re self employed then the website does not belong to a company it belongs to you and hence you should state it is personal. And yes, you can register as a sole trader at any time.
Hi Naeem, my pleasure! Glad you found it helpful and I wish you the very best with your business. Should you need anything else then feel free to get in touch, good luck for now 🙌
If you’re not self-employed, wouldn’t the answer to that specific question be ‘no’? When I selected yes, it assumed that I already had a business which was not the case?
Thankyou for the video it was helpful. I had a question, I have been offered a consultancy based contract by an employer for 3 months period, so should I register as a Self Employed person and follow the same steps ? Before which date do we need to pay our taxes ? Please can you let me know, that would be great.
Hey, with regards to short term contracts I believe you would need to do the same but I would check with gov.uk if there is another scheme you can sign up to if you think it’ll be your only job. Your taxes would be calculated between 6th April to 5th April the following year and would need to be completed by January 👍
Hi mate I’ve just registered as a sole trader and pair the £47 fee, They emailed me to say they’re checking the details given and if their correct I should receive a UTR number within 15 days, I’ve signed up for a government gateway/personal tax account, however it won’t allow me to log in unless I confirm my identity in two ways, a U.K. passport, a Northern Ireland driving licence or a phone contract history, I don’t have either of those so it’s impossible for me to confirm it, I’m not sure what to do here, is there any other way to file self employment tax or can you only do it through the government gateway account? Any help would be massively appreciated
What is classified as profit, let's say I've been selling on Amazon and made over 2000 in sales but if you take cost it's probably less than 1000 Do I get taxed on this I've been told you have a limit free taxes
Hey there, it depends on whether or not you've had earnings from anything else. If that was your only income then you won't be taxed on it if your accounts are done properly as you should have a personal allowance of £12.5k. If you've surpassed your personal allowance then you can make up to £1,000 without having to register as self employed nor do tax returns. I hope that helps 🙌
Hi I have followed all steps. But it just signed out once I had completed all forms. Now I am not sure if I just need to wait until I receive UTR in post?
Hi Naveed, if your address expires then you should change your address to another one or renew your service as the mail forwarding service will would stop forwarding your letters you will undoubtedly miss important notes regarding your company and this will have adverse effects on your business.
I need to register as a sole trader in n construction and industry and then register for CIS Tax , really struggling with it ,any advice would be great.
Hi! Thank you so much for this video! It's great! I have a question.. I am Italian, I currently live and would like to work as self-employed in the UK. I have settlement status, NIN and all the rights to live and work in the UK. During the process for self assessment registration, in order to validate my identity, the below 3 options are presented to me: 1) Provide a UK Passport number (I have an EU Passport, not UK) 2) Credit reference questions (No problem - I have a bank account and a phone contract) 3) Northern Ireland Driving Licence (I have a European Driving Licence) I am required to select 2 out of 3. I don't have a UK passport or a Northern-Ireland driving license. What's the solution here? (I'm legally allowed to be self-employed, but unable to register to do so) Thank you again for the video!!! :)
Hi Veronica! This question has been asked many times and I am not quite sure what the answer is myself. Another subscriber told me they contacted gov.uk (see their contact number in the videos description) and they were able to sign up another please so I would highly advise you to do the same 🙌.. good luck and let me know how it goes 👍
@@TheHolisticHustle Thank you very much! I called HMRC and they sent me a UTR. I am waiting now for my activation code to be sent to get through the identity check! It should arrive soon! :)
I had the same issue! As I'm Mexican and wondering how to register when asked to provide these documents that I don't hold. I also called them and said they'd send me a UTR! Many thanks for this enlightenment
Hey mate I just wanted to know if I'm setting up a web design business is a sole trader right for it? I'm thinking of a sole trader since i wont reach a certain income threshold. Also this video instructions it's to setup a sole trader as well right? Also do u know what types of insurance il need for a web design business? Thanks. Also last q. Did the process ask to enter the organisation name? I.e company name
Hi Nik, yes a sole trader is sufficient for this. If you start getting my loads of jobs and need to hire people etc maybe transition into a limited company later on
Hi JC, for any questions like this related to registering to become a sole trader I would contact the HMRC directly! They will be able to answer any questions related to self employment 🙌
I have just signed up for the self assessment. Now do I just wait for my UTR to come through the post or will it show up on my Gateway account or both? What is the next step?
But what do you do if you hold a foreign passport? Seems like you have to have one to access the gateway, so they can confirm your identity. I've emailed HMRC about this.
Hi Suchi, did they get back to you? If you're unable to register as self employed then feel free to open a limited company, as I know you don't need to be a citizen for that. I've made a video so feel free to check it out. Until then, good luck!
Hi my daughters partner is trying to register self employment but does not have a passport and his driving licence is uk not northern ireland can you help please
Hi Carol, I would get in touch with HMRC directly for this. I've left their number in the video's description so please have a look! They're really helpful when it comes to things like this 👍
Will HMRC ask you for your bank details as well to charge the corresponding account with any tax? Or will they just not ask you for that? Also if I was to register this month (October), will I have to pay my tax by Jan 31st 2023 or would I be paying the year after that so jan 31st 2024? Thank you ❤
Are you able to register as self-employed during the tax year of your first year of trading or is it best to wait to register until the tax year is over? I started self-employment in June 2022 but I'm not sure if I register now in October 2022 it will give me the 2021-2022 return to do instead. Thanks.
Hi Shamrose, for any questions like this related to self employment I would contact the HMRC directly! They will be able to answer any questions related to registering as a sole trader 🙌
Hi, thanks for your video it is very informative. But can I ask you some questions please? I am confused about applying self-employment, I am currently working right now as employed in a site construction company. I do not have any business and I wanted to be self-employed, I am trying to do this process and I selected the sole trader and etc but when I come up to the identity check, I cannot continue as I am not holding UK passport and don't have yet a payslip and etc. Can you please advise me what are the other ways in applying self employed?
Hi Gladys, if you’re working in a construction company and you don’t have a business why do you want to register as self employed? Moreover, I would either wait to get payslips or contact HMRC directly. Hope that helps 🙏
Hi Vagabond, for any questions like this related to self employment I would contact the HMRC directly! They will be able to answer any questions related to registering as a sole trader 🙌
i'm 16 and tried to register as sole trader for my agency but it only provided me with passport and driving license. i don't have a driving license so i can't register. is there any way around this or do i have to wait?
@@TheHolisticHustle today I have registred as self-employed. It was bit different, but your video was really helphull, I have recommended it for my friends. Do you have any video about taxes declarations for tax year in april for self-employed? Thanks!
Genuinely can't thank you enough for this. There's actually videos out there that lead you in completely the wrong direction. I've bookmarked this for later! Thank you so much
@The Holistic Hustle - Choose 2 items we can ask you about,, I am not having UK passport and Driving License also, no credit reference question. I only posses P60. In that case how to get or generate the UTR ? Kindly reply.
@@TheHolisticHustle that's what I was looking for in this video, as the process has changed and this video is 1yr old which no longer serves the purpose for expat
I registered years ago as a sole trader then closed and stopped filing SA. I've re activated my account as I have a different business now. (Still sole trader) Do I register the name or just do self assessment tax returns? I'm opening a shop too. So confused as I don't want to do it wrong!
Hi Becky, out of curiosity why did you not register a limited company if you're opening a shop? You'll need to register again but it's a slightly different application, I briefly mention it towards the start of the video, once you're up and running again you'll need to submit accounts again 👍
Hi mate. Great video. At 6:18 when it asks are you self employed youbselcted yes. In my situation I'll be doing it(self employed) along side my current employed job. What would I do in this instance? Appreciate your time
Hey there, I believe you'll still need to select self assessment but you'll need to let HMRC know that you're working two jobs so they can correct your tax code. I would also look into opening a limited company instead as you could keep any earnings in there, not affect your tax and when you're ready you can make the full time switch
Hey thanks so much for the video it's really helpful though I got stuck would you help please? When it asks for UTR even though I have one (no matter if I click yes or no) the next steps says which describes you best and mine only as 2 options partnership or trust, there is no option for sole trader like on your video :( any idea why? I am in full employment, registered on HMRC with my personal tax account and looking to register as self employed as a second job, any clues will be appreciated! :)
Hey Paul, Can you clarify whether you're asking if you can have a limited company and a separate self employment unrelated to the limited company. Or whether you're asking if you get a UTR number with each limited company you open?
Hey there, as a US citizen I believe you'll need to setup a limited company as opposed to self employment but it's worth contacting gov.uk to find out what options you have 👍
I have a company name that I would like to trademark and also a product name that I’d like to trademark, would I have to repeat the process twice ? Thx
Hi Paul, yes that's correct, you would need to register two separate trademark applications. These is benefit in this too! If one of the applications doesn't get approved or has some sort of issues, this won't affect the other one 👍
I’m having trouble verifying my identity on the gov.uk website to become self employed and have been trying for the last three months. Do you have any advice on any other method I can retrieve my UTR number and set up as a sole trader as I’m struggling to figure out what to do. Thank you :)
Hey Charlie, Please contact gov.uk by phone, they're telephone service is very helpful and they should be able to answer questions like this in no time. They're also a lot clearer over the phone and nowhere near as confusing as they're website. Hope that helps!
@@J89943 hi can I ask were they able to help you with this over the phone? And was it complicated? Having same problem only have 1 of the options not getting anywhere? Thanks in advance
Hey there, Great question, I believe the answer would be yes if you earned more than £1,000 but please get in touch with HMRC for a more accurate answer 👍
Please I am already registered and have utr under construction scheme now I want to own an online business on amazon . Please I need letter for Vat exemption . Also want to know if I can continue with the utr I have or get a new one
Hi Thank you for this video , for some reason after I fill everything out it doesn’t give me a utr number if takes me to another page to fill out more information
Hey David, I agree this stuff is daunting at the start but you'll quickly get used to it and hopefully sooner rather than later can pay an accountant to look after the side whilst you're focussing on growing the business! Let me know how you get on or if there's anything else I can help with😊
Would you still put self-employed if you’re currently working in a full-time job? Or would you create a new government gateway for you evening business?
If I have been asked to provide my UTR for a company I’m doing some self-employed work with soon but I doubt I will even earn £1,000 from my self-employed work in the course of this tax year, can I still register as self-employed now?
Hey Katie, yes you can register for a UTR number even if you don't earn £1,000 with the goal of doing so, but if you're confident you won't then I would probably just save the hassle and explain that you don't have one.
@@TheHolisticHustle thanks for the reply. I ended up doing it as I wasn’t sure if they would be able to employ me without one (it sounded like a requirement to do their finance checks 🤷🏻♀️). Also, I noticed the steps when I did mine recently seemed quite different from your video, but thank you anyway - still helpful
Hey there, for any questions like this related to self employment I would contact the HMRC directly! They will be able to answer any questions related to registering as a sole trader 🙌
I was registered as self employed then became employed... I am back in the situation of becoming self employed again but I want to also remain employed. How would this work
Hey Gwendoline, nothing needs to happen actually. Do you mind if your employer knows? If not then I would inform them. Otherwise it doesn't really matter as the HMRC will see it anyway and may put you on an emergency tax code in which case you would need to contact the inland revenue and get a tax rebate at the end of the year if you're over taxed.
Hi Mario What options are there if you do not want to use home address as a business address? Because on google it say your address will we shared online. So apart from paying lots for the London forwarding address is there a cheaper simple way?
Hi Rusha, Unfortunately there's not much you can do about that. The virtual addresses can be pricey but with regards to the level of service you get then you can't go wrong. I mean you can ask a friend to use their address but if they're not on their toes and forwarding you important letters from HMRC you might end up missing something important or getting late penalty fees and so on!
Hey, in short yes but I didn't let this stop you. You can still start a business without setting up a company and focus on building it as much as possible until you're ready
Great video, thank you! I have a question.. So when buying from certain companies they ask for a VAT number which I haven't got as I don’t turnover £85k+.. can you request a VAT number without having to apply for self-assesment..?
Hey there, Yes you can! It's called voluntary vat registration, but depending on what you sell/what industry you're in, by doing so you'd need to pay an additional tax (VAT) which is around 20% on your annual sales. Only a handful of companies are better off by voluntarily registering for vat before they have to and it all depends on the product/service you sell. Essentially, if the vat you claim back outweighs the additional tax you're subject to then it's financially beneficial. There's two main types of vat and I have made a video on each of them to help with these questions so feel free to search through my videos and make sure to watch them and understand them before making any decisions! All the best for now 🙌
Hi Mario, your videos are simply top notch! Clearly explained and above all you welcome questions! Such a great resource. Thank you!! Look forward to more from you. For now, here's my question, can the registered office link from 1st formations be used if you're a soletrader or is that just for companies?
Hey assayed, thanks for your message and with regards to your question you can certainly use a virtual address as a sole trader but it is more necessary for limited companies 👍
Thanks Mario, it was to protect my address when registering for a trademark. Am I right in thinking the only way to do that would be by using a virtual address?
I was self employed 7 years ago, but finished 4 years ago. I can't find that old UTR number so do I request a new one or ask for a document with that old number on so I can reuse it? I'm planning on going back self employed this summer.
Hey mate, is the self employment you're going back into the same business as your old one? If not, then just request a new UTR otherwise call HMRC and I'm sure they'll be able to give it to you. Hope that helps 🙌
@@TheHolisticHustle Same type of business, but in a different place, new name etc. Thanks for the help etc. I might just give them a call on my week off soon.
Hey Eshan, I'm not 100% for self employment but if you look into it and the answer is no (you can't register), then feel free to watch my video on registering a limited company as you don't need residency for that.
Hey guys, before registering as a sole trader it's important to setup the correct type of business. I've made a video comparing sole trader vs limited company which should help with making the right decision! Here it is: ua-cam.com/video/JUY0bX-BKQk/v-deo.html
To schedule a 1-to-1 coaching call with me: bit.ly/3UbUSeN
For those asking about virtual addresses then I highly recommend 1st formations: 1st-formations-limited.sjv.io/c/2683763/899281/12045
Thanks for all the lovely messages and if you need any help then feel free to ask, I aim to answer every single question on my channel! Good luck for now 🙌
hello im from morocco i can register in the self employed uk ? please
This is what I did I think. I’m hopefully going to have time today to give them a call.
GOOD INFORMATION. THANK YOU. I subscribed and hit the Like button. Laura in uk
Hi, I’m trying to follow these steps but it does not add up to what you see on screen. There are certain differences in the pages on this video and the ones the appear on gov website. No matter which way I navigate the process I still find options coming up that aren’t in this video such as adding a business tax summary? Very confused as to what went wrong and what I need to apply for as a person wanting to work as self employed in order to join companies that take on a contract basis etc
It asks for details regarding business registration etc. I don’t have a business or work for one I am trying to get UTR Number in order to work for a company as self employed. Therefore I don’t have a company address contact details etc to provide.
Hey there, I'm not sure what's going wrong here but I'd highly recommend you get in touch with the support team on gov.uk and find out what the issue is ☺️
Thanks for the video. When applying for the first time for the tax year April 2023- April 2024 the October deadline to register is it by Oct 2023 or Oct 2024?
Hey I believe it’s by October 2024 but it depends on the date of registration so please check this with an accountant 👍
The option in video to register for first time isn’t there,any help would be appreciated
Hi Dave, if the option isn’t there then I would advise calling the customer helpline in the videos description to find out what’s going on and where it has been moved to if so. Let me know how it goes and good luck!
So from the perspective of an individual who's never been registered as a Self-Employed, would've been nice to cover what are the commitments or procedures. If previously I worked as a full-time employee of an organisation or company, and in between changing jobs I think I could freelance and I register as a self-employed however, I don't manage to make any income during the period of my self-employment - do I still need to spend time to complete forms and submit them and be worried if I don't do it before a certain deadline, I would get penalties and other debt letters from HRMC? How about if I got back to full-time employment in the meantime, do I need to unregister and dissolve the Self-Employment account? - I'd rather keep everything under 1 account (tax id) as HMRC are notorious for messing up the wages and the tax codes. One month they say they owe you money and the next one they say you owe them twice as much. 👎🏻
Hey there, thanks for your comments and these questions will certainly help me help you guys going forward! Unfortunately I’ve just seen this comment and given the time it’s been left it I’m guessing you have the answers but if not, feel free to ask anything in a new comment so I get notified and I’ll get back!
Hi, please I would need your support and direction. I mistakenly ended up opening a limited company when indeed It was self employed/sole trader I wanted, this is before I watched this video. However, what I needed this for insist on self employment/sole trader status.
What do I do now?
Do I have to create a self employed account again which wouldn't affect me in anyway?
Hey you would simply need to close the limited company and then register as self employed 👍
If you have a government gateway number for personal tax would you need to create another one for business tax?
Hey Sonal, yes each business should have its own government gateway number and UTR 👌
Hi. We're you already registered as a sole trader because you got you UTR number straight away on the screen. I'm still waiting to receive my UTR number
Hey I was always registered. Your UTR number can take up to 2 weeks to come through the post 👍
Hi Mario, if i was to register for self assessment and then wanted to stay employed for a couple of months, is this possible? or as soon as i register for self assessment am i required to be working as a sole trader
Hey Tom,
You can register for self assessment whilst you’re employed 👍
self assessment is not available on my tax account. I have registered self employed - will this take some time to appear on my account? many thanks
Hey Will, I would get in touch with the available contact at gov.uk to find out 👍
Hello bro. Your video was good. But I'm not a citizen of UK is that possible for me to get it
Hey there, I don’t think you’ll be able to become self employed as a non citizen but you would be able to setup a limited company instead to carry out your business 👍
Fam. I dunno y the effing government made this such a friggin headache! Almost impossible to do!
Haha trust me! I wouldn’t even want to guess why, it don’t make sense 🙄
Can we apply UTR with NI number and without UK passport
I believe not but double check with gov.uk
the problem is i need to register my business or else I cant use this website and this website is crucial in generating money so I cant earn money until I register but I cant register until I earn money?
Hi Ben, who said you can’t register until you earn money? You can register for self employment at any point in your life as long as you’re over 18. The £1000 threshold is the mandatory threshold but this doesn’t mean you can’t register before that. Good luck with your business 🙌
it would be great but they can't verify me and have locked my account
Hey Daniel, that's odd, please get in touch with HMRC directly, they should be able to tell you why she hopefully get it sorted!
Hi, is this the same method for registering an online coaching business?
Hey, yes it is but it would depend on whether you’re registering as self employed or a limited company. If you’re not sure on which one then I have a separate video on that so feel free to check it out:
ua-cam.com/video/JUY0bX-BKQk/v-deo.html
What if it declines and says something about your identity
What exactly do you mean?
Doesn't help me , work a normal Job and didn't work
What doesn’t help and why?
Can we register backdate and claim VAT backdate?
Yes you can, I believe for up to 4 years worth of accounts 👍
So, I'm registering as a sole trader/self-employed, and when it asks, 'Are you self-employed? ' I click YES?
Great content! I am learning so much from you. I have a question, I am sorry if it is silly. If I am currently in full time employment, but have set up a limited company and allocated myself the role of Company Director and 100% shareholder, do I need to register as self employed? If not, what do I register as, or do I just get an accountant to manage this additional income stream that I will have from the limited company?
Hey it depends on whether you want to be paying yourself from the limited company or not in the form of PAYE or Dividends. If you won’t be paying yourself then you won’t need to register as anything as just get your accountant to do the accounts 👍
my name is Faraz,I'm from Pakistan.Can I register self employed from Pakistan?
Hi Faraz, I believe not but you can open a limited company instead 👌
I watched many videos and talked few people,they told that I can open,I need sole trader company because I have to do trade on international brokers
So once this is done you are a registered sole trader business? And afterwards would you advise speaking to an account about creating a deeper age bank account to your personal one etc
Hi C, yes that's right, after this you'll be registered as a sole trader and will begin filing for self assessment tax returns. You'll have to educate me on that deeper age banks are?
They make it very complicated!
Yes mate, particularly on that HMRC website, I feel like even an experienced lawyer would struggle to understand some of the language they use (if they didn't get bored of it first)
The most helpful video so far! Thanks for clearing things up!
My pleasure mate, glad you found it useful!
If I am international student and after my studies I decide to work as full time UA-camr and make my money through UA-cam will I be able to become self employed and get citizenship in uk
Hey, I'm not about this but I would get in touch with HMRC, I'm sure they'll be happy to help!
hi, i have already a Gateway id +Password + UTR but i believe its for personal use...or can I use the same details for registering as a business [sole trader]??
Yes exactly 👌
oh great! Thank you so much ! :D
Hi Mario!
I followed this video as a guide and did everything the same way you did it. However, on my personal tax account home page there isn't a clickable section saying 'self assessment ' I also have no idea if I have a UTR code on the way. Have I done something wrong?
Hey Niall, I’m not sure what the issue is here but I would get in contact with HMRC using the contact number in the videos description 👌
Same, i registered and I dont see a 'self assessment' section. I dont know if i'm been accepted and my UTR is on the way. Did you get any update? Did you UTR arrive?
@@yu-huiyang6959 Its weird, even the government does a poor job of explaining it. The website is no help either as to what you're supposed to do next. I applied for the UTR a while ago now and i still haven't received a letter or got an email to say if I've been accepted or rejected. The whole process is a shambles
I came across this video and this has helped me immensely - thank you. I was going through so many different channels (links) to register as self employed with HMRC and now this is a simplified method. Thank you for your business tips. This is my first encounter going down this route as self-employed and I have faith that I will get through this with perseverance. Good luck to all those who have decided to take this route of self employment.
Hey Malibu, that's a lovely message! The road down self employment can certainly get bumpy at times but it has much better views! Good luck and please keep me posted on how you get on with it 😊🙌
Regarding the Gov Gateway set up, do you create a new account for your sole trader business, or do you use your current account with them?
For example, I am fully employed by a company, but I am looking to set up as a sole trader also for weekend work etc. Do I us emy current gateway account, or would it be safer to set up a new/second account?
Hi Scott, you'll need a new government gateway ID for each business so yes you should create a new account. Good luck mate 🙌
@@TheHolisticHustle Thank you!!!
My pleasure mate 🙌
How can you register for self-assessment if you can only confirm your identity with Payslips and don't have a UK Passport Credit reference or
Northern Ireland driving licence?
You should be able to see the option to receive a security code for your checks by post. I had the same issue.
Hey Lulian, it send Alina has answered the question here but for anything else I would contact gov.uk by phone, their telephone service is very useful and in much clearer English than their confusing website 👍
I was in uk for last 1 year and want to claim the tax return but while registering for utr it asking for uk passport or Netherlands passport details..I don't have those details as my original country is different
Thanks for this. Really useful. Do you know if I need to create a new [separate] Government Gateway account for my sole trader business? I already have one for my personal things like childcare hours etc. Many thanks.
Hi Jonathan, yes you'll need a separate login for each business 👌
Have you get an answer for this question? I'm in same situation.
Thanks for thos helpful content. Very informative.
Question:
I curently have a full time job but would like to register as a sole trading company (before switching to a limited company in the future). I do have an existing account with HMRC howevere, following your steps on this video, iam being asked to state the date the business started, even though i havent been able to register the company yet as a sole trader.
Can you please provide some help with this? Is there another indépendant site to register as a sole company before appliying to HMRC?
Hey there, unfortunately there is no other site to register as self employed
Thank you for the video, Mario. It's absolutely helpful.
Is there any problem if I register as self-employed, already having an LTD company in my name?
My pleasure and no not at all, but try to use the same accountant so they can successfully account for both businesses 👍
Great video well presented - quick question if I became s/e in June 2022 - would I need to wait until after April 6th 2023 to register to complete a return by 31 Jan 2024? HMRC says has to be done in the second tax year after the start date!? Many thanks LJ.
Hey LJ, yes I believe that is correct!
Well done 👏 This is a helpful video
I marked that I have no UTR number. They asked to confirm my identity but I don't have the information they ask for... My options are: UK passport, Credit reference questions, Northern Ireland driving licenceWhat can I do? I just have credit reference. What can I do?
Hi Marcia, please get in touch with HMRC directly as they'll be able to give you further guidance on this.
Hi mate! I've followed all the steps but when i get to my 'Account home ' page (9:01) I don't have any option for Self Assessment. I can't find anything anywhere to even say that I've even completed the process. Do I need to wait for a UTR to come through or have i done something wirong? Would appreciate any help or advice.
Thanks for the upload, liked and subbed!!
Hey Omar, apologies for the delay in getting back to you! Yes you'll need to edit for your UTR before you can sign in. If you're unsure whether you've properly completed the process then feel free to contact HMRC on the number provided in there videos description 🙌
Did you get a UTR in the end Omar? Same thing has happened to me 🙂
very helpful video but i cant register because i dont have any two items to select from the given check boxes ( uk passport,) in this case what would u refer to do fir me get the self assessment
Please get in touch with gov.uk
Hi! Great video, thank you :) I have a quick question - I haven't earned £1000 yet, as I am just beginning the process of starting a business. However I am looking at buying a website domain name and when I put down that it was for business, it required my company name. I am also looking at setting up a bank account as a sole trader, but I assume that will also require a company name - so my question is this: shouldn't I register as a sole trader before doing these things so that I have a name to put down? Will I be allowed to register as a sole trader if I haven't earned £1000 yet?
Hey there, although it is for your business if you’re self employed then the website does not belong to a company it belongs to you and hence you should state it is personal. And yes, you can register as a sole trader at any time.
@@TheHolisticHustle Awesome! Thank you so much ☺️
This is really useful! Thank you The Holistic Hustle.. please publish more super relevant & helps clear everything
Hi Naeem, my pleasure! Glad you found it helpful and I wish you the very best with your business. Should you need anything else then feel free to get in touch, good luck for now 🙌
If you’re not self-employed, wouldn’t the answer to that specific question be ‘no’? When I selected yes, it assumed that I already had a business which was not the case?
Hi Mo, to which question?
Thankyou for the video it was helpful. I had a question, I have been offered a consultancy based contract by an employer for 3 months period, so should I register as a Self Employed person and follow the same steps ? Before which date do we need to pay our taxes ? Please can you let me know, that would be great.
Hey, with regards to short term contracts I believe you would need to do the same but I would check with gov.uk if there is another scheme you can sign up to if you think it’ll be your only job. Your taxes would be calculated between 6th April to 5th April the following year and would need to be completed by January 👍
Hi mate I’ve just registered as a sole trader and pair the £47 fee, They emailed me to say they’re checking the details given and if their correct I should receive a UTR number within 15 days, I’ve signed up for a government gateway/personal tax account, however it won’t allow me to log in unless I confirm my identity in two ways, a U.K. passport, a Northern Ireland driving licence or a phone contract history, I don’t have either of those so it’s impossible for me to confirm it, I’m not sure what to do here, is there any other way to file self employment tax or can you only do it through the government gateway account? Any help would be massively appreciated
I would contact HMRC directly about this, I'm sure there will be a way around it 🙌
What is classified as profit, let's say I've been selling on Amazon and made over 2000 in sales but if you take cost it's probably less than 1000
Do I get taxed on this I've been told you have a limit free taxes
Hey there, it depends on whether or not you've had earnings from anything else. If that was your only income then you won't be taxed on it if your accounts are done properly as you should have a personal allowance of £12.5k.
If you've surpassed your personal allowance then you can make up to £1,000 without having to register as self employed nor do tax returns.
I hope that helps 🙌
Hi I have followed all steps. But it just signed out once I had completed all forms. Now I am not sure if I just need to wait until I receive UTR in post?
Hey Sharna, if you’re not sure then give HMRC a call and ask them to check for you. Have you received any emails or anything with a reference?
sir plzz let me know if virtual adress expires due to non payment what will be the fate of uk limited company if it was registered on same adress ???/
Hi Naveed, if your address expires then you should change your address to another one or renew your service as the mail forwarding service will would stop forwarding your letters you will undoubtedly miss important notes regarding your company and this will have adverse effects on your business.
I need to register as a sole trader in n construction and industry and then register for CIS Tax , really struggling with it ,any advice would be great.
Hey Adam, what parts are you struggling with? Have you watched the video?
Hi! Thank you so much for this video! It's great!
I have a question..
I am Italian, I currently live and would like to work as self-employed in the UK.
I have settlement status, NIN and all the rights to live and work in the UK.
During the process for self assessment registration, in order to validate my identity, the below 3 options are presented to me:
1) Provide a UK Passport number (I have an EU Passport, not UK)
2) Credit reference questions (No problem - I have a bank account and a phone contract)
3) Northern Ireland Driving Licence (I have a European Driving Licence)
I am required to select 2 out of 3. I don't have a UK passport or a Northern-Ireland driving license.
What's the solution here? (I'm legally allowed to be self-employed, but unable to register to do so)
Thank you again for the video!!! :)
Hi Veronica! This question has been asked many times and I am not quite sure what the answer is myself. Another subscriber told me they contacted gov.uk (see their contact number in the videos description) and they were able to sign up another please so I would highly advise you to do the same 🙌.. good luck and let me know how it goes 👍
@@TheHolisticHustle Thank you very much! I called HMRC and they sent me a UTR. I am waiting now for my activation code to be sent to get through the identity check! It should arrive soon! :)
I had the same issue! As I'm Mexican and wondering how to register when asked to provide these documents that I don't hold. I also called them and said they'd send me a UTR! Many thanks for this enlightenment
Hey mate I just wanted to know if I'm setting up a web design business is a sole trader right for it? I'm thinking of a sole trader since i wont reach a certain income threshold. Also this video instructions it's to setup a sole trader as well right? Also do u know what types of insurance il need for a web design business?
Thanks. Also last q. Did the process ask to enter the organisation name? I.e company name
Hi Nik, yes a sole trader is sufficient for this. If you start getting my loads of jobs and need to hire people etc maybe transition into a limited company later on
I’ve had issues verifying my account I don’t have a passport or Northern Ireland driver license to verify my identity
Hi JC, for any questions like this related to registering to become a sole trader I would contact the HMRC directly! They will be able to answer any questions related to self employment 🙌
I have just signed up for the self assessment. Now do I just wait for my UTR to come through the post or will it show up on my Gateway account or both? What is the next step?
Hi Sylocke, the UTR will come through the post around 7 days after registering. Then you’ll be able to use that to sign into your account.
But what do you do if you hold a foreign passport? Seems like you have to have one to access the gateway, so they can confirm your identity. I've emailed HMRC about this.
Hi Suchi, did they get back to you? If you're unable to register as self employed then feel free to open a limited company, as I know you don't need to be a citizen for that. I've made a video so feel free to check it out. Until then, good luck!
Hi my daughters partner is trying to register self employment but does not have a passport and his driving licence is uk not northern ireland can you help please
Hi Carol, I would get in touch with HMRC directly for this. I've left their number in the video's description so please have a look! They're really helpful when it comes to things like this 👍
Will HMRC ask you for your bank details as well to charge the corresponding account with any tax? Or will they just not ask you for that? Also if I was to register this month (October), will I have to pay my tax by Jan 31st 2023 or would I be paying the year after that so jan 31st 2024?
Thank you ❤
No they won’t ask for your bank details, you’ll just make a bank transfer when the time comes 👍
Are you able to register as self-employed during the tax year of your first year of trading or is it best to wait to register until the tax year is over? I started self-employment in June 2022 but I'm not sure if I register now in October 2022 it will give me the 2021-2022 return to do instead. Thanks.
I would advise to just register for self employment when you’re ready to start trading, it doesn’t make much of a difference.
Hello, this video is quite helpful. I’m stuck on identity confirmation. What if someone have no Uk passport or payslip or credit card.
Hi Shamrose, for any questions like this related to self employment I would contact the HMRC directly! They will be able to answer any questions related to registering as a sole trader 🙌
I have no uk passport, can i register sole trader company in uk on the basis of national insurance number?
Hi I'm not sure on this, please contact HMRC directly, they're very helpful on the phone!
Hi, thanks for your video it is very informative.
But can I ask you some questions please?
I am confused about applying self-employment, I am currently working right now as employed in a site construction company. I do not have any business and I wanted to be self-employed, I am trying to do this process and I selected the sole trader and etc but when I come up to the identity check, I cannot continue as I am not holding UK passport and don't have yet a payslip and etc. Can you please advise me what are the other ways in applying self employed?
Hi Gladys, if you’re working in a construction company and you don’t have a business why do you want to register as self employed? Moreover, I would either wait to get payslips or contact HMRC directly. Hope that helps 🙏
Is it possible to register for self employment and taxes without uk passport. I am on tier 2 dependent visa. Is it possible?
Hi Vagabond, for any questions like this related to self employment I would contact the HMRC directly! They will be able to answer any questions related to registering as a sole trader 🙌
i'm 16 and tried to register as sole trader for my agency but it only provided me with passport and driving license. i don't have a driving license so i can't register. is there any way around this or do i have to wait?
Hi Rowan, I would get in touch with gov.uk directly for this!
Hi. Thanks for video. When should write name which you want to use? I didn't really understand this.
Hey, I don't completely understand your question, can you rephrase it?
@@TheHolisticHustle hi. Can I use the name like name of company, not my nam and surname? Thanks
@@TheHolisticHustle today I have registred as self-employed. It was bit different, but your video was really helphull, I have recommended it for my friends.
Do you have any video about taxes declarations for tax year in april for self-employed?
Thanks!
Genuinely can't thank you enough for this. There's actually videos out there that lead you in completely the wrong direction. I've bookmarked this for later! Thank you so much
Hey Amy, I’m glad you found it helpful and wish you the very best with your business!
@The Holistic Hustle - Choose 2 items we can ask you about,, I am not having UK passport and Driving License also, no credit reference question. I only posses P60. In that case how to get or generate the UTR ? Kindly reply.
Hi Adarsh, please contact HMRC directly to see if there is a way around it without passport/driving license. Good luck 👍
@@TheHolisticHustle that's what I was looking for in this video, as the process has changed and this video is 1yr old which no longer serves the purpose for expat
I registered years ago as a sole trader then closed and stopped filing SA. I've re activated my account as I have a different business now. (Still sole trader) Do I register the name or just do self assessment tax returns? I'm opening a shop too. So confused as I don't want to do it wrong!
Hi Becky, out of curiosity why did you not register a limited company if you're opening a shop? You'll need to register again but it's a slightly different application, I briefly mention it towards the start of the video, once you're up and running again you'll need to submit accounts again 👍
Hi mate. Great video. At 6:18 when it asks are you self employed youbselcted yes. In my situation I'll be doing it(self employed) along side my current employed job. What would I do in this instance? Appreciate your time
Hey there, I believe you'll still need to select self assessment but you'll need to let HMRC know that you're working two jobs so they can correct your tax code. I would also look into opening a limited company instead as you could keep any earnings in there, not affect your tax and when you're ready you can make the full time switch
Hey thanks so much for the video it's really helpful though I got stuck would you help please? When it asks for UTR even though I have one (no matter if I click yes or no) the next steps says which describes you best and mine only as 2 options partnership or trust, there is no option for sole trader like on your video :( any idea why? I am in full employment, registered on HMRC with my personal tax account and looking to register as self employed as a second job, any clues will be appreciated! :)
Hey Joanna, this sounds like a glitch, I would contact gov.uk directly by phone and find out what the issue is 🙌
Hi Mate
How can I get UTR number ?
I dont have A UK passport?
Hi Mehran, please contact gov.uk by phone for this 👍
Hi, how can I register a company name as a solo trader? thank you. Ausra
Hi Ausra, were you not able to by following the steps in this video? PS. Please comment on a new thread so I get notified and can respond
If you have a ltd company which isn’t trading can you get an individual utr number to work under??
Hey Paul,
Can you clarify whether you're asking if you can have a limited company and a separate self employment unrelated to the limited company. Or whether you're asking if you get a UTR number with each limited company you open?
Hello Mario, thanks a lot for the video. Can I do all these steps if I’m a US citizen as well? Or is this video only for UK citizens
Hey there, as a US citizen I believe you'll need to setup a limited company as opposed to self employment but it's worth contacting gov.uk to find out what options you have 👍
I have a company name that I would like to trademark and also a product name that I’d like to trademark, would I have to repeat the process twice ? Thx
Hi Paul, yes that's correct, you would need to register two separate trademark applications. These is benefit in this too! If one of the applications doesn't get approved or has some sort of issues, this won't affect the other one 👍
I’m having trouble verifying my identity on the gov.uk website to become self employed and have been trying for the last three months. Do you have any advice on any other method I can retrieve my UTR number and set up as a sole trader as I’m struggling to figure out what to do. Thank you :)
Hey Charlie,
Please contact gov.uk by phone, they're telephone service is very helpful and they should be able to answer questions like this in no time. They're also a lot clearer over the phone and nowhere near as confusing as they're website. Hope that helps!
I had the same question no passport or Northern Ireland drivers license I will contact them tomorrow thank you both
@@J89943 hi can I ask were they able to help you with this over the phone? And was it complicated? Having same problem only have 1 of the options not getting anywhere? Thanks in advance
Thanks so much for this. Do you need to put a UK address for your sole trading business?
Yes you do 👍
Can i use the same gov gateway id for PAYE and for sole trader?
Hi Raul, I’m not sure if you can but it’s best to keep them separate.
I followed this but then asked for a tax code
Rewatch later n I followed but some of the steps shown were different to what I got
Hey Matt, get in touch with HMRC about this and see what's going on here 👍
Hi thank you for the video! Quick question what if I am self employed as a locum for 7 weeks do I still need to submit a self assessment return?
Hey there,
Great question, I believe the answer would be yes if you earned more than £1,000 but please get in touch with HMRC for a more accurate answer 👍
I'm aslo working in the company and get payed by them but I also want to start a side business, still may i apply for UTR number?
Yes 👍
Please I am already registered and have utr under construction scheme now I want to own an online business on amazon . Please I need letter for Vat exemption . Also want to know if I can continue with the utr I have or get a new one
Yes each business should have a separate UTR 👍
Mate if it wasn't for this video would not have known how to register for self assessment awesome video much appreciated 👍
Apologies for the late response but I hope you utilised all the info and you’re all set up now! Good luck with your business!
Hi
Thank you for this video , for some reason after I fill everything out it doesn’t give me a utr number if takes me to another page to fill out more information
Hey Jodi, did you manage to get this sorted?
Great Video, Need to take the plunge but its this side of things worry me. Selling is fine.
Hey David, I agree this stuff is daunting at the start but you'll quickly get used to it and hopefully sooner rather than later can pay an accountant to look after the side whilst you're focussing on growing the business! Let me know how you get on or if there's anything else I can help with😊
Would you still put self-employed if you’re currently working in a full-time job? Or would you create a new government gateway for you evening business?
Hey Will, in which section are you referring to?
@@TheHolisticHustle when you are applying for self assessment
If I have been asked to provide my UTR for a company I’m doing some self-employed work with soon but I doubt I will even earn £1,000 from my self-employed work in the course of this tax year, can I still register as self-employed now?
Hey Katie, yes you can register for a UTR number even if you don't earn £1,000 with the goal of doing so, but if you're confident you won't then I would probably just save the hassle and explain that you don't have one.
@@TheHolisticHustle thanks for the reply. I ended up doing it as I wasn’t sure if they would be able to employ me without one (it sounded like a requirement to do their finance checks 🤷🏻♀️). Also, I noticed the steps when I did mine recently seemed quite different from your video, but thank you anyway - still helpful
Thanks for your help! I have some question: what do I have to do when I do hold the British Passport?
Hey there, for any questions like this related to self employment I would contact the HMRC directly! They will be able to answer any questions related to registering as a sole trader 🙌
I was registered as self employed then became employed...
I am back in the situation of becoming self employed again but I want to also remain employed.
How would this work
Hey Gwendoline, nothing needs to happen actually. Do you mind if your employer knows? If not then I would inform them. Otherwise it doesn't really matter as the HMRC will see it anyway and may put you on an emergency tax code in which case you would need to contact the inland revenue and get a tax rebate at the end of the year if you're over taxed.
@@TheHolisticHustle thank you
Hi, It is necessary to register as a sole trader before you start getting any money from your new business?
Hey Katie, no you don't. In fact, if you earn less than £1000/year you don't need to register at all 👍
Hi Mario
What options are there if you do not want to use home address as a business address? Because on google it say your address will we shared online. So apart from paying lots for the London forwarding address is there a cheaper simple way?
Hi Rusha,
Unfortunately there's not much you can do about that. The virtual addresses can be pricey but with regards to the level of service you get then you can't go wrong. I mean you can ask a friend to use their address but if they're not on their toes and forwarding you important letters from HMRC you might end up missing something important or getting late penalty fees and so on!
When I enter the access code I don’t reach the business tax summary page it takes me to a ‘we need to check your identity page’?
Have you been able to verify your identity?
I'm underage so do I have to just wait or is there something I can do?
Hey, in short yes but I didn't let this stop you. You can still start a business without setting up a company and focus on building it as much as possible until you're ready
Can we registered for Self Assessment as a foreigners? I mean who's not living in the UK.
Hey, I think self employment is only for British citizen’s but you can certainly open a limited company 👍
How do I register food delivery (uber’ just eats)?
Hey sorry I don’t completely understand your question, can you please clarify?
Great video, thank you! I have a question.. So when buying from certain companies they ask for a VAT number which I haven't got as I don’t turnover £85k+.. can you request a VAT number without having to apply for self-assesment..?
Hey there,
Yes you can! It's called voluntary vat registration, but depending on what you sell/what industry you're in, by doing so you'd need to pay an additional tax (VAT) which is around 20% on your annual sales.
Only a handful of companies are better off by voluntarily registering for vat before they have to and it all depends on the product/service you sell. Essentially, if the vat you claim back outweighs the additional tax you're subject to then it's financially beneficial.
There's two main types of vat and I have made a video on each of them to help with these questions so feel free to search through my videos and make sure to watch them and understand them before making any decisions!
All the best for now 🙌
Hi Mario, your videos are simply top notch! Clearly explained and above all you welcome questions! Such a great resource. Thank you!! Look forward to more from you. For now, here's my question, can the registered office link from 1st formations be used if you're a soletrader or is that just for companies?
Hey assayed, thanks for your message and with regards to your question you can certainly use a virtual address as a sole trader but it is more necessary for limited companies 👍
Thanks Mario, it was to protect my address when registering for a trademark. Am I right in thinking the only way to do that would be by using a virtual address?
My Name is Gabriel Marfo and your name is Gabriel Mario wtf loool
Mine is Mario Gabriel, haha brilliant 🙌
I was self employed 7 years ago, but finished 4 years ago. I can't find that old UTR number so do I request a new one or ask for a document with that old number on so I can reuse it? I'm planning on going back self employed this summer.
Hey mate, is the self employment you're going back into the same business as your old one? If not, then just request a new UTR otherwise call HMRC and I'm sure they'll be able to give it to you. Hope that helps 🙌
@@TheHolisticHustle Same type of business, but in a different place, new name etc. Thanks for the help etc. I might just give them a call on my week off soon.
If I Don't have a british passport? Thanks
Hey Eshan, I'm not 100% for self employment but if you look into it and the answer is no (you can't register), then feel free to watch my video on registering a limited company as you don't need residency for that.
Your videos is so clear and quite useful, many thanks for making this.
Thanks for the comment and I’m glad I could help 🙌
hello, how long does it roughly take to hear back from the application ?
Hey it’ll take around a week to receive your UTR number 👌