020 7328 8338

Monday to Friday: 10:00am to 6:00pm | Saturday: By Appointment Only

We exist because of you and we speak your language

Becoming Self Employed

Setting up as a self-employed is the simplest and quickest way to start a one-person business. There is not much paperwork to do.

Record keeping and accounting is straightforward, and there are benefits of being your own boss.

As a sole trader you will have to pay income tax on any profit that your business generates. You must fill in a self-assessment tax return each year, detailing your income and expenses.

You will have to make flat-rate Class 2 National Insurance Contributions (NICs) throughout the year – £2.75 a week for 2014/15. If your annual profits are over a certain amount – £7,956 for 2014/15 – you will also have to pay Class 4 NICs.

You pay these along with your income tax – the amount you have to pay is calculated from your self-assessment tax return.

Personal allowance for year 2014/2015 is £10,000.

Please contact us on 0207 328 8338 for a friendly and informal discussion of your requirements.

.

Top
We are Offline
We are Offline ×

Are you sure you want to quit ?

Yes No

Please wait..
Thank you for contacting us, We will be in touch shortly.
We are currently off line, please fill up the form to keep in touch with us.
Field cannot be empty.
Field cannot be empty.

Thank you for chatting with us !

Chat Again