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Sole trader and registering with hmrc

7 replies

moveblues · 08/05/2022 11:38

Hi all
So in the tax year 2020-21 in addition to my regular salary I earnt under the £1000 sole trader tax free allowance, meaning (as far as I can tell) I don't need to do a self assessment for that tax year or register with hmrc.
This year I've earnt that already and I know I'll need to pay tax.
I haven't yet registered with hmrc but when I do, do I say that I traded last year or not?
Thank you... I'm useless with this stuff! :)

OP posts:
moveblues · 08/05/2022 19:49

moveblues · 08/05/2022 11:38

Hi all
So in the tax year 2020-21 in addition to my regular salary I earnt under the £1000 sole trader tax free allowance, meaning (as far as I can tell) I don't need to do a self assessment for that tax year or register with hmrc.
This year I've earnt that already and I know I'll need to pay tax.
I haven't yet registered with hmrc but when I do, do I say that I traded last year or not?
Thank you... I'm useless with this stuff! :)

Bump

OP posts:
Howmuchwood · 08/05/2022 19:52

When you say this year and last year, which one do you mean for the tax year 2021-22 (which ended on 5th April 2022).

chisanunian · 08/05/2022 19:54

As far as I am aware, the current legislation does not require you to register as self-employed if you are below the £1,000 limit.

However you need to check for yourself on the HMRC website.

OrangeBall · 08/05/2022 19:55

Just register now if you will be earning over £1000. You can wait but to be honest, it is easier to get these things done

BritInUS1 · 08/05/2022 19:56

Just register from 06 April 2022

Lou98 · 08/05/2022 20:02

Phone them to register. As far as I'm aware you don't need to register if you earn under £1k so you would put the start date as the start of this tax year but if you phone to register instead of doing it online then you can explain to them and see what they say.

When I registered as self employed a few years ago I phoned them and it was very simple to do

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