Registering with HMRC

Once you’ve started working for yourself one of the first things you need to do is register with HM Revenue & Customs as self-employed. You need to do this within three months of the date you commenced trading - otherwise you could be liable to a penalty of £100.

You can notify the Revenue by the following methods:

• register online at https://www.gov.uk/register-for-self-assessment
• telephone HMRC on 0300 200 3300

The tax rules for you once you start self-employment are different from when you were an employee. The most important thing to remember is that you are responsible for your own tax and national insurance, rather than having it deducted from your monthly salary or weekly wage packet.