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Working for yourself and registering with HMRC

05/07/2018 06:23:08
Watch the YouTube video below to show you what you need to do to register with HMRC as a self-employed person:

Working for yourself - how to register with HMRC
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Working for yourself and registering with HMRC

11/09/2018 11:31:58
Hi Im about to set up a business within a shop. At this moment ive not made any money. Do I need to register as a sole trader now before I open the shop?
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Re:Working for yourself and registering with HMRC

11/09/2018 13:21:18
Hi

You should register only when you start trading unless you need to prove you’re self-employed, for example to claim Tax-Free Childcare you want to make voluntary Class 2 National Insurance payments to help you qualify for benefits. Please see link

https://www.gov.uk/set-up-sole-trader
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Working for yourself and registering with HMRC

06/11/2018 10:16:20
Hello,

I am starting a business selling retail products, I have registered for self-employment. How do i register my business? Can I run my business with our registering it until I made £1000? Is that right?
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Re:Working for yourself and registering with HMRC

06/11/2018 12:31:32
Hi,

Thanks for your question.

When you register as self-employed for Self Assessment, you are registering your business. So you don't have to register again. You do not need to register if you earned £1000 or less from self-employment in the tax year unless you need to prove you're self employed, for example to claim free childcare or you want to make voluntary Class 2 National Insurance payments to help you qualify for benefits.

Please see the below link to the relevant page on our website.

Working for yourself
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Working for yourself and registering with HMRC

13/12/2018 13:41:23
Hi im taking over my brothers accounts for his Limited company he set up earlier this year, I invoice the clients and they deduct tax at 20%, I also pay the men or sub-contractors and deduct 20% - ive logged online HMRC CIS but his accountant isnt doing his job and he now owes quite a lot of money, how do i go about offsetting the tax hes had deducted please is this under the Self Assessment at the end of the year or can it be done monthly in line with the EPS due on the 5th please?
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Re:Working for yourself and registering with HMRC

13/12/2018 13:48:40
Hi,

Thanks for your question.

We are currently seeking technical advice. We will get back to you shortly.

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Re:Working for yourself and registering with HMRC

14/12/2018 10:27:42
Hi,

A limited company subcontractor can claim CIS deductions suffered, in year against their PAYE liabilities. To do this the company needs to send an Employment Payment Summary (EPS) by the 19th of the month showing the amount of CIS deductions suffered. HMRC will then take the CIS deductions from what is owed in PAYE and National Insurance, any balance of PAYE and NI will be due by the usual date. If you still have CIS deductions to claim back once you have reduced your PAYE bill to zero, carry these forward to the next month or quarter. You need to keep a record of any amounts set against your PAYE liabilities and can do this on a form CIS132 .

More information on how to pay tax and claim back deductions as a subcontractor can be found on Gov.uk here:

What you must do as a Construction Industry Scheme (CIS) subcontractor

If you are unable to claim back your CIS deductions in year you can make a claim after the end of the tax year and HMRC will refund any overpayment to you or you can ask HMRC to set the repayment against other liabilities such as Corporation Tax.

You can find out how to claim a refund of CIS deductions if you’ve paid too much tax or National Insurance, after the end of the tax year here:

Claim a refund of Construction Industry Scheme deductions if you're a limited company

You can apply for gross payment status providing your business meets the qualifying tests which means contractors will pay you in full without deductions.

More information on how to do this can be found here:

What you must do as a Construction Industry Scheme (CIS) subcontractor

I hope this helps.

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