Self-Employed

System
System Posts: 100,534 🤖 Admin 🤖
edited 12:08PM in AAT member discussion
Hi ya

I’ve got an idea to start a home based self-employed, but don’t know how to start, where to start and what are the procedures. I’m sure you all are very experienced in this matter, any way could you please advice me how to start it.

Some practical thoughts are arising in my mind that, do I need to register as a self-employed and take insurance ( PII ) before I start the business.

Hope some one will help me to take this rat out of the trap. :?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Self-Employed

    You need to register with AAT as an Member in Practice - you can download the form from this site.

    You need to arrange PII cover, if you earn under £5K gross per annum there is a block cover you can get through AAT if you earn more than this then you need to arrange your own cover, but there are links from the members section to insurance companies who may be able to help.

    You do need to tell the revenue you are going self employed - there are forms to fill in for this and also for the class 2 national insurance contributions.

    Hope this helps

    Michelle
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Self-Employed

    Thanks Michelle

    And one more thing, if it is not a self-employed, can I offer my service from home as a home based Accounting Technician and do I need to tell HMRC?

    Emthi
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Self-Employed

    How can you not be self-employed?

    Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Self-Employed

    Yes you would be classed as self employed and need to inform HMRC when you commence self employment.

    Basically any work you do outside of a job where PAYE is deducted and for which you receive payment is classed as self employment and the revenue need to be informed as you may owe tax and NI on any profit.

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