When to register as self employed?

[strawbubbi]

Hi everyone

So I'm new to the whole earning money online thing, but I've seen a few people/websites mention about being self employed for doing certain tasks. Now I don't want to find myself in any trouble or owing the tax man money, so at what point would I have to register as self employed? Is it when I'm earning a certain amount on a regular basis?

Thank you
Abby

 

[Jon]

Hi everyone

So I'm new to the whole earning money online thing, but I've seen a few people/websites mention about being self employed for doing certain tasks. Now I don't want to find myself in any trouble or owing the tax man money, so at what point would I have to register as self employed? Is it when I'm earning a certain amount on a regular basis?

Thank you
Abby

Once you earn more than £1000 in a tax year self employed then yes you need to register with HMRC.

We have a self employed toolkit here - https://blog.themoneyshed.co.uk/self-employed-toolkit/

 

[Debtfreewannab]

Hi everyone

So I'm new to the whole earning money online thing, but I've seen a few people/websites mention about being self employed for doing certain tasks. Now I don't want to find myself in any trouble or owing the tax man money, so at what point would I have to register as self employed? Is it when I'm earning a certain amount on a regular basis?

Thank you
Abby

I Think but I’m not 100% certain that if you already work and earn over the taxable amount then you have to make over £2500 income additionally i think lol

 

[Queen Jess]

Once you earn more than £1000 in a tax year self employed then yes you need to register with HMRC.

We have a self employed toolkit here - https://blog.themoneyshed.co.uk/self-employed-toolkit/

Yep - this is straight from the gov.uk website:

What you need to do
You’ll need to register for Self Assessment if any of the following apply:

• you earned more than £1,000 from self-employment between 6 April 2017 and 5 April 2018
• 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

You must also follow certain rules on running and naming your business.

If you don’t need to register, you can still make voluntary Class 2 National Insurance payments - for example to make sure you get the full State Pension.