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Sole Trader Legal Obligations

Sole Trader Legal Obligations

Setting up as self employed The first thing to do as a sole trader is to apply for a UTR number (Unique Taxpayer Reference number) and register as self employed with HMRC. QuickRebates can help you apply for a UTR number. For the current tax year (6th April 2019...
Bookkeeping Obligations when Self Employed

Bookkeeping Obligations when Self Employed

As a self-employed sole trader, you are required to maintain and keep records of your income and expenses to help you prepare your Tax return every April. This is known as bookkeeping and should be a regular activity to help you keep your business finances organised....
Trading as a Limited Company for Higher Earners

Trading as a Limited Company for Higher Earners

What is a Higher Earner? For the purpose of this article we have defined a higher earner as a self-employed individual that earns over £25,000 – £30,000 a year. This is a lot lower than HMRC’s definition of a higher rate Tax payer of £50,000 where the Tax rate...
Self Employed Guide for Sole Traders

Self Employed Guide for Sole Traders

Being self-employed is slightly different to working for an employer but are you aware of your legal requirements after registering with HMRC and receiving your UTR number? This self employed guide will discuss the requirements expected from you as a self employed...