020 7328 8338

Monday to Friday: 10:00am to 6:30pm | 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
Chat with Us
Vertice Services Live Support ×

Are you sure you want to quit ?

Yes No

Please wait..
Please Fill in the details before starting chat, alternatively, contact us on Whatsapp: 074 2670 0209
Please enter a name.

Thank you for chatting with us !

Chat Again