HMRC introduces new interactive tool for self-employed people

HM Revenue and Customs (HMRC) have announced the launch of a new interactive online tool for the self-employed. In addition they have provided clearer guidance for those who are already self-employed and for those considering it.

The new tool explains what records a self-employed person may need to keep, taxes that may apply to their business, and includes other useful information, such as how to pay a tax bill.

HMRC’s new Set up as a sole trader: step by step is a guide to help people who work for themselves understand the situations in which they may need to register as a sole trader and how they can do so.

The tools can be used on an anonymous basis and are only for information purposes. Using them will not result in being registered as self-employed, and the government have said that they do not collect or store any information about the user.

If you are unsure about whether you may need to register as self-employed, please feel free to contact us. We will be happy to help you.

For more information see: https://www.gov.uk/government/news/new-support-for-small-business-from-hmrc

About the Author

Beverley Howells

Partner

Beverley is a partner with Torgersens, specialising in tax. Her role covers all aspects of taxation, from managing compliance to providing business advice. Her main areas of expertise are in business tax and corporation matters and in particular, acting for owner-managed businesses. Having joined the firm as a graduate trainee, Beverley qualified as a Chartered Accountant in 2000.   Outside of work, Beverley’s favourite place is the beach, enjoying a walk along our beautiful North East coastline. Ideally, she would be joined by a canine companion and has recently started a campaign for her own office dog! 

To get in touch please e-mail beverley.howells@torgersens.com.