Are you ready to take the leap into self-employment? If you're planning to become a sole trader, understanding the key steps for registering with HMRC is critical to starting your business on the right track.
In this one-hour workshop, we’ll guide you through the 7 essential things you need to know to ensure a smooth registration process and stay compliant with UK regulations.
What You’ll Learn:
- Registering for Self-AssessmentUnderstand how to sign up with HMRC and what’s involved in filing your taxes.
- Income Tax and National Insurance ContributionsLearn how income tax and NICs work for sole traders and what payments to expect.
- Record-Keeping RequirementsDiscover how maintaining clear financial records simplifies tax reporting and helps avoid penalties.
- Claiming Business ExpensesUnderstand allowable expenses—such as office costs, travel, and equipment—and how they can reduce your tax bill.
- VAT Registration (if applicable)Find out when VAT registration is required and how it affects your business.
- Key Deadlines and PenaltiesStay informed about important HMRC deadlines to avoid penalties and unnecessary stress.
- Setting Up a Business Bank AccountLearn why separating personal and business finances is essential and how to get started.
Who Should Attend?This workshop is ideal for anyone looking to become a sole trader or newly self-employed individuals wanting to ensure they meet HMRC requirements and manage their finances effectively.
What You’ll Gain:
- A step-by-step guide to registering as a sole trader.
- Clarity on tax responsibilities and deadlines.
- Confidence to manage your business finances.
