Setting up?

[goldpendant]

Hello

I'm about to start freelancing following 18 months out of work. I've got a contract with a big company in place, but I don't expect to make much in my first year or two, maybe £1K/month maximum.

Can I check I've understood the gov.uk guidance properly?

• register for self assessment and get the 10 digit code from HMRC, even though I've nothing to file as yet

• keep records of earnings/invoices/expenses

• file tax return/self assessment each year.

Is that it? Really? I certainly don't need a Ltd company at this stage.

Thanks in advance

Note, I want to be registered as self employed as I'll need to use the 30 hours childcare for my 4yr old this year, so need to be registered.

If you will be only earning 12K per annum then no reason for you to be trading as a Limited Company BUT you may very well find that the company you are working for will insist on you trading as a limited company. You need to ask them what they require.

Indemnity insurance? Public liability? Does the contract specify these?

Yep, I don't do any more than that. I've been self employed for about 9 years.