If you are self employed this means that you work for yourself rather than for an employer. Being a sole trader means that you are self employed but you are the sole owner of your business. Within 3 months of becoming self employed you should register with HMRC for self assessment tax and class 2 National Insurance.

You will be taxed on your profits, so you will need to keep track of your sales, purchases and expenses and be ready to report your profit & loss at your year end.

T&D Bookkeeping will complete your bookkeeping transactions, and work alongside your accountant who will complete your self assessment tax return, contact us for more information.