Self Employed (Sole Trader) Guide

Have your eBay sales taken off?
Have you been flipping on Amazon and realised you can make money this way?Have you recently started some self employed work? A side hustle? A new business? Making extra money?

Then this guide is for you.

This guide is intended to help people who are living in the UK and earning

income or profits from buying and selling goods, started selling services or

renting out property.

This will go over the steps needed to set up as a Sole Trader, the basic information required and some helpful tips on how to correctly get started.

Covering:
HMRC Rules and definition

How do you register with HMRC?

What to name your business?

What records do I need to keep?

ACCOUNTING METHODS — COSTS AND EXPENSES

Taxation - how much do you pay?

Sole Traders vs

Limited Companies?