How to become self employed in the UK

[@SmallBusinessToolbox]

If you've found these videos useful you can now support my channel directly (i.e. not Patreon). You get access to spreadsheet template downloads, comment on articles and more. A small investment for your growing business - join here: smallbusinesstoolbox.uk/member/ 👍

[@karleetoss1713]

Hi, I'm starting on setting my own business up, I will need to buy a van, and was wondering how do I go about putting the cost of the van through the business? / tax return? would I need to set the business up first, or buy the van then set it up after, as I guess I will need to earn enough money in in the first year to claim the van as taxable? thanks

[@arc-1709]

Sole trading from home on eBay? I’m not hoping to make much just to pay my bills I’ve just sold from home items but want to expand eventually

[@python1058]

Do u have Instagram

[@petekelvin2736]

So hard to find nice content like this. I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability

[@petekelvin2736]

Invest globally in bitcoin, gold, silver, forex market, commodities. Just don't be left out and save yourself

[@jasonburns7083]

Please can you look making a video about becoming self employed but in full time work

[@charliemoore4677]

@Jason Burns what if you don’t need any video but a guidance from an expert will definitely go a long way for you like it did for me .

[@charliemoore4677]

You can connect to her on what@pp or check her @ Sophie Clare Williams on google

[@charliemoore4677]

You can connect her google @ Sophie Clare Williams

[@charliemoore4677]

Or via what@pp +1 ( 5 1 8 ) 7 4 1 - 4 0 5 0

[@charlotteartist6606]

Thanks so much! This is something they should honestly teach in school! This is the first I've learnt about paying tax and I'm a freelance artist (have been for about a year) and I knew pretty much nothing about paying tax! Now I feel I have a decent grasp and have completed my registration as being self employed!! Can't thank you enough x

[@SmallBusinessToolbox]

No worries and totally agree this should be taught in school. 👍

[@neilgrigg7972]

Can i ask if you were earning much when you did self assessment?

[@marcycarter8246]

This video has made my anxiety of registering literally drop down to zero

[@SmallBusinessToolbox]

Glad you found it useful! 👍

[@truthhitman7473]

@@SmallBusinessToolbox How can you get a good accountant when you're on Job seekers allowance ? 😂 If people are still signing on and claiming benefits , would it not be impossible to start your own business and setting up a PayPal business account without having your benefits stopped ? There are so many videos on business but none on the reality of those who are signing on and wanting to be self employed.

[@lobbylobbster]

I cannot thank you enough for this information Andy. You're a star. Cheers

[@Xofttam]

Thank you so much for this video. I've started my own business through eBay and was getting a bit overwhelmed with all the HMRC process but you have made everything so much more clear for me and taken my worry about the resignation process away. It's not nearly as hard as I was thinking. So thank you again.

[@SmallBusinessToolbox]

No worries and welcome to the world of self employment! 👍

[@Oliveolive123]

just starting up as a sole trader in a commercial property as a holistic massage therapist , videos are so helpful and clear thank u

[@SmallBusinessToolbox]

Awesome - best of luck Lucy! 👍

[@rodp2310]

Hi Andy. Very good video as always. It can be a bit of a minefield to navigate the government gateway/HMRC registration process - you can find yourself seemingly going round in circles at times - and they do seem to change the look/links far too often. There seem to be too many routes into the government gateway and it is not always clear whether you have just registered for a gateway account or actually successfully registered as self-employed. I (in the day job as an accountant) often find that newly self employed clients tell me they have registered as self employed - but we then find that all they did was set up a gateway account rather than registered and got a UTR. Couple of points to add.... Very worthwhile mentioning voluntary class 2 NICs - it’s a very cheap way to clock up a qualifying year for state pension - note that the new state pension requires 35 qualifying years rather than 30. For VAT, the compulsory registration threshold is assessed on a rolling twelve month basis (always looking back 12 months from the current month for the 85k) rather than per tax year - which can catch some people out - especially if they leave it until December/January to get their figures together and find they should have registered months earlier. Your advice about knowing your numbers and getting on top of them from day one is very important. Keep up the helpful advice - it’s great that you share your knowledge and first hand experience on a platform like this. The ‘horse’s mouth’ practical advice is often much better than coming from the (sometimes intimidating) ‘professionals’. But thanks for the shout out for the value of a good accountant. But you are right to advise people to question what they are told by their accountant - it’s the best way to learn and understand for yourself. Best wishes. Rod

[@SmallBusinessToolbox]

Thanks Rod - great to have a view from an accountant too! Great additional points - here's the link to 'Check Your Pension': www.gov.uk/check-state-pension 👍

[@pgtips9824]

Thanks a lot. Very clear and straight to the point. High quality stuff.

[@veronicasamms7893]

This is the most informative video I have seem thank you so much.

[@retrofindsuk3612]

Bloody hell. THIS is the video I was looking for. Outstanding.

[@ademylmaz5768]

Thank you for your perfect explanation I been looking for months about self employment and you sort all my questions!!!

[@AA2Aorg]

This is great. Really clear. If you ever remake this its probably worth mentioning that if you employ someone (even part time) then there is a legal requirement to have Employers Liability Insurance

[@janedonald592]

Just registered a sole trader. thank you so much this was very helpful

[@seagrey75]

Next month I’ll be sole trader self employed, thank you for this video!

[@SmallBusinessToolbox]

Best of luck with your business! 👍

[@jamie7able]

Thank you. Perfect, calm way to get us newbies inducted 👍

[@jack-theoptimisticbaromete4278]

Fantastic video. You explained everything well. I'm a lot less nervous about the prospect of having to do this now! Thanks!

[@kendiachristodoulou9489]

You're an absolute life saver! You've just guided me through this process - Thank you so much! SUBSCRIBED! :)

[@Jujuchan96106]

Thank you very much for this video! I have been self-employed for half a year, and I only realise I need to register myself now. Looking at instructions online was very confusing. And this step-by-step video made the registration as a sole-trader clear and easy. Thank you again!

[@SmallBusinessToolbox]

No worries - best of luck! 👍

[@naomimorris3708]

You don't know how helpful this was to me. Thank you so much!

[@darrenthomas3690]

I nearly didn't play this video and so glad I did as it led me to watch your others. After years of being to anxious about the possible complications of self employment you literally answered and simplified everything thank you for sharing your knowledge.

[@raulmoyamulaphotography9781]

Fantastic videos, a lot of information but clearly explain in a language easy to understand. Thank you

[@Crash4949undefeated]

Thank you so much for your videos, I was finding it so hard to get my head around everything. I'll recommend you to everyone.

[@liilshakemillie1516]

You answered all the questions I had in my mind👌🏾 very good video thank you

[@Coachlindiwecara]

Thank you for this. Until I found this video I was very confused and I almost gave up! Thank you.

[@petergibbons9936]

This video is very goo and informative, I was so scared of doing it myself but he explains it so simply and easily. All the info is still all relevant in 2020, the website might have changed slightly since 2017 but it helped me through it step by step. Thanks so much and would recommend watching for anyone starting up as a sole trader.

[@haggishunter3943]

Thanks Andy, informative video. Just built a garden workshop for a bike repair business and I'm stressing about a few things. This was a good start. Looking forward to seeing what other videos you have. Very helpful and easy to grasp 👍

[@suebanks8677]

Great tutorial, I now feel confident enough to register my business with HMRC. Will also follow your other tutorials.

[@giuliabove4949]

Thank you so so much. I have totally subscribed to your channel. I was dreading this and done in 10 minutes. 🙏

[@allunthomas3759]

I'd like to thank you for the help this video has done for me don't think i would have managed it without

[@joaoguevarauk]

This tutorial video was actually really good, Thank you very much!

[@BlakeArtworks]

Thanks my English brother! Very helpful

[@ShoppingwithRina]

Thank u so much for this info

[@visaandtravel3609]

Very nice and informative video .I m very happy to watch this .I m very thankful to u sir . Great man

[@tomaszmarciniak8582]

Thank you! Priceless support, I do highly recommend this guide.

[@scottmclean6301]

Your 2nd chanel. Excellent mate. I will watch all these vids tonight after work

[@SmallBusinessToolbox]

Cheers Scott! (technically this is my 5th channel... don't ask... 😂)

[@esmilceespinola1825]

I would to see a new videos about a self employed. Thanks

[@shezamarinova7773]

I'm so so grateful for this tutorial! Thank you!!

[@AstroExploring]

Thanks for this! The whole process seemed very daunting before I watched your video!

[@SmallBusinessToolbox]

No worries!

[@liniidesign2408]

Thank you very much Andy! This has been unbelievable helpful!

[@retrogamer434]

Absolutely brilliant !!! can’t thank you enough you have helped me so much ✌️✌️✌️✌️✌️

[@aimeemcculloch3073]

Very helpful video thank you so much !

[@Inspireyourimagination]

This is a great clear and understandable video thanks for that! 😁👍

[@futcrunch]

yooo you are the goat thanks.

[@shoboyjr]

Thank you, very clear and straightforward.

[@BillsAllotmentDiary]

Been watching your Gosforth handyman channel for a while and have been looking to possibly go self employed saw on one of your vids you linking to this channel. Its been a fantastic help. My daughters boy freind s mum is a retired HMRC person and she has said should I take that plunge she will advise on how to get started and what is allowable. watching the vids picking up loads of useful info. Next I need to learn how to keep records in spreadsheets lol

[@SmallBusinessToolbox]

Thank you and best of luck! 👍

[@yukiprice7323]

Thank you for the sharing this info! Currently looking to start up my mixed martial arts personal training business and this video really helped :)

[@SmallBusinessToolbox]

Fantastic stuff - best of luck! 👍👊

[@profesoor0101]

You have no idea how much hussle you have saved me

[@SmallBusinessToolbox]

👍👍

[@BeObjectiveBeHumble]

SMMA Advice needed plz. Hi everybody, hope you are well in these tough times. I am researching how to set up my SMMA in my home city in the UK, as a sole trader and sort of nervous about taxes and business expenses. I'd appreciate your kind advice as you know what you are doing. It's something that I want to get a decent understanding of to feel more comfortable as it's worrying me somewhat, then move on to learn the skills, make a business plan and start reaching out to clients after I research more on my niche. 1- What is the difference between a sole trader and a Ltd company? 2- If someone is a sole trader then what are classed as business expenses? 3- Do we keep all receipts and make sure we only make all transactions to do with our business with our business card then after all expenses we are allowed a certain profit before we are taxed? 4- Is buying a good new laptop with its bag and insurance a business expense? 5- Getting a car to travel and meet clients? Is it covered by way of the 45p per mile rule up to 10,000 miles or can a person the 1st year just buy it then claim for its cost and insurance and road tax and fuel costs for visiting clients? And is a person limited to the type of car they can get? 6- Can we lease a car on the business? 7- Is the cost of having a virtual office for a year a business expense even if we actually work from home? 8- What about software used in the business itself to reach clients, make Facebook Ads and to help with the whole work flow process? 9- What about a brand new phone contract with unlimited calls/texts and data and insurance to use only for business? 10- Business cards and advertising and a website with SEO, domain name and hosting for the business itself? 11- Maybe 4 or 5 nice sets of smart clothes for client meetings? 12- Hotel, travel and food costs to meet clients in other cities? 13- The costs of paying for attending training for the skills needed in the business including hotel, food and travel expenses if out of the city? 14- Then the cost of my own living costs such as the rent of my flat/apartment and bills and food? 15- What about paying for a business card if need be as some have fees involved? 16- Accountant fees? 17- Is Advertising for my agency to reach clients classed as business expenses? 18-If we get a business loan, then we pay it back monthly, is that part of business expenses? 19- How about the WIFI we pay for that we use for our work at home? 20- And lastly, how about paying for outsourcing some of the work from abroad or getting some of the services by way of partnering with another agency for white label services? Does that all fall under business expenses? How does this all work? As I’m sort of nervous and confused before starting my own SMMA? I want to understand this somewhat then move on from it without having to worry anymore. Thank you.

[@SmallBusinessToolbox]

That's a huge comment! 😂 A lot of your questions are already covered on this channel but in all honesty with that many questions I would strongly advise speaking to an accountant. Best of luck! 👍

[@N3.1Kryuk]

Thank you for such a great video

[@dragosborcan4773]

Very helphul, i was looking at you and i done imediatelly, great video. Good luck mate

[@FaulksDigital]

I followed along at home. Cheers for this!

[@SmallBusinessToolbox]

No worries! 👍

[@ktf58]

Thank you very much - this video was really helpful when setting up!

[@SmallBusinessToolbox]

No worries - best of luck! 👊

[@Monweed]

Thank you for sharing knowledge with people

[@AttatlawNakornDivarangkoon]

Easy to understanding

[@seby7230]

Half and hour great job ...good service ..

[@lisagelder]

Thanks for this, really very very helpful, ive just watched again for probably the 3rd time and followed everything while i filled it all in online. Had a few issues half way through where it wouldnt recognise my email so just went back to the begining and started again, hope its all gone through ok as i was issued with 2 seperate ID numbers.!!! thanks again i will be following you for more fab advice. :)

[@SmallBusinessToolbox]

Unusual on the 2 ids - best of luck! If in doubt give HMRC a bell and they'll be able to help. Don't be surprised if you don't hear anything for a while now. 👍

[@Toska432]

thank you very much, a very reassuring video

[@johnnydepp7170]

You helped me, thank you.

[@prakashparmar9341]

Very helpful, thanks. Not done the return yet but hopefully still time.

[@GeorgeAusters]

Just set up!

[@ManlikeT-wc9nm]

Couple questions 1. How far into your business until you should apply for this? 2. If you have a job and a business on the side do you pay for national insurance for both of them?

[@SmallBusinessToolbox]

Hi - I would personally register ASAP - as soon as you know the business has legs really. You have the £1000 trading allowance now but if it looks like you'll make more than this per year then I'd certainly register. NI - you can defer class 2 I think but basically yes, you pay NI on both - it's proportional to your profits. 👍

[@ManlikeT-wc9nm]

Small Business Toolbox thanks a lot for the detailed reply’s! Im on the verge of starting a business as reselling, but want to get it planned and ready beforehand, so once again cheers 🍻👍🏽

[@hansdegroot8549]

Very interesting video. Thanks for sharing. I skipped the greater part of filling in the form, since this is too specific only for the UK. But the last few minutes I watched again fully. it seems there's a lot of discrimination in the world. In Slovakia the equivalent of the National insurance is also for minimal 30 years. Under a certain turn-over you can pay voluntarily. The amount which you have to pay is the same is the minimum of National insurance when your turn-over is till about twice that minimal turnover and is at the moment 160 Euro's (per month!!!!!) 1 Euro is about 0.87 British Pounds, I guess) And after 30 years of minimum paying you can receive a minimum garanteed state pension of about 300 Euro's.

[@SmallBusinessToolbox]

Wow, yes that's very different to over here. Although whether the state pension will even exist by the time I retire is dubious. 😀👍

[@cortzphlip3561]

Thank you for this video very helpful👍🏽

[@wachu4]

Absolutely great video, thank you so much.

[@SmallBusinessToolbox]

No worries!

[@alexonline607]

Thank you so much for this video 👍

[@AbdulAhmed-gx2rh]

Awesome! Thank you Sir.

[@EMILIOTAVARESLIMA]

Great video, thank you so much for this helpful tips.

[@SmallBusinessToolbox]

No worries! 👊👍

[@sjm14sjm]

Thankyou so much, this was excellent!

[@SmallBusinessToolbox]

No worries! 👍

[@milenamonka1463]

Great video.Really helpfull. thank so much.regards and have a nice day.

[@SmallBusinessToolbox]

No worries! 👍👊

[@JohnM...]

You DON'T need to register until the tax year of your second year in business. HMRC recognises that things like equipment may completely wipe out any profit in the first year or so.

[@SmallBusinessToolbox]

Yup... although no harm in registering sooner... generally.

[@wtfblonde]

Thanks, great info well explained

[@screamtv4293]

Thank you very kindly.. This video was helpful..

[@brushfuse]

Just registered: This was really helpful!

[@SmallBusinessToolbox]

Cheers - best of luck! 👍

[@samet8795]

14:24 after I select self assessment I face with ıd question. Choose 2 items we can ask you about.....

[@josephb5401]

Good video - very helpful

[@elaeysancanpolat9103]

it was really helpfull thank you !

[@MGKIBROM]

Thanks that's to helpful 🎄😇🙏

[@creativegriffin8971]

Thanks that really helped.

[@Ukulele_Ad]

Big help, thanks!

[@SmallBusinessToolbox]

No worries Adam! 👊

[@ThounderHorseLoicia]

thank you so much for this!!

[@lisakeane6073]

Is notifying the HMRC the same as creating a gateway account where you are issued with an ID number and password, so you can then progress further to set up as self employed? Thanks

[@sharonsmith1626]

really helped me, thank you

[@SmallBusinessToolbox]

No worries Sharon! 👍👊

[@VanieKaap]

Hi, I've gone through this process and have registered my business, I've received my UTR from HMRC, but where do I find information about my newly formed business? It's not coming up on companies house and I don't know where to find it - where do find the company number for instance. This is all very new to me. Thanks!

[@vegitasvegitas]

Video about insucrances please! Keep up! thanks :)

[@SmallBusinessToolbox]

Might do although insurance is a huge subject 👍

[@short.traveller]

Thanks for sharing your knowledge my friend. Really helpful.

[@SmallBusinessToolbox]

No worries! 👍

[@2326TOM]

thank you sir

[@sugarplumfairy101]

Hi Andy, love the channel. Quick question: I'm about to take early retirement and have a big build project ahead of me. Like you, I want to get involved and do a percentage of the grunt-work, order and manage trades and buy instead of all trades doing that and the taking a % for it. I won't be working for a payment as it will be my house. What would you say the best way to move forwards is. Many thanks

[@KurdooUK]

well done mate

[@pilarperez9553]

Thanks so much! keep them coming ;-)

[@SmallBusinessToolbox]

No probs! 👍

[@AAX777]

Great video. You forgot to include the link for the profit video.

[@SmallBusinessToolbox]

Haven't done it yet! 😀👍

[@ellieellie4554]

Amazing tutorial! Thanks so much! I am not sure what date should I give for when I started trading (question they ask: 'When did you start working for yourself or when did your trading allowance exemption cease?'.) Mainly, I started getting some small money from October 2018, but until 05 April 2019 I only made in total around £500, so much under the threshold. If I now want to register as a sole trader to declare tax from 2019/2020, should I state the date from let's say 31 March 2019, or should I go back to Oct 2018? Your help will be much appreciated! Thanks!

[@fri3nds652]

everything was going great till register on hmrc, ive been trying every way to prove my identity, but once again, because birtain doesnt want to help immigrants they refuse to allow my lihtuanian passport thru. they verified my passport to give me a eu settled scheme but not gov.uk verify, they said my passport was genuin and mine when coming back to the uk after holidays but not in the goverment gateway prove identity site. same problem always.

[@visaandtravel3609]

Great man

[@icrashed1432]

That is a great video explaining a lot for beginners. Just one question: what if a make a mistake answering one of the questions??? Can I fix it after sent? Cheers

[@tigercat1966]

Hi pal ..great vid ..very good advice about paying N I ...please update info as you now need 35 years to get the new state pension ..i am a fan and i have subbed cheers pete

[@SmallBusinessToolbox]

Cheers Pete! Sadly KZbin doesn't let you edit old videos, but this is covered in newer vids. 👍

[@joehammond8607]

Super helpful ! Is this relevant to a online business owner? I want to set up a online shop selling other people’s products.

[@stevewithers7724]

Thanks for the great videos Andy! I am just staring up my Handyman business and all of your content is really helpful. Website seems to want me to prove my identity which keeps failing - This is not mentioned in the video so what am I doing wrong?

[@karishmajage9549]

Thank you for such useful video. I have a small query, I would really appreciate it if you could answer this. I am a IT programmer working as a consultant. My husband has Skilled worker visa and through that I got a dependent visa and will be working remotely from home as a consultant in London for a USA company. Can I be self employed in UK if I receive salary from USA company in UK and How much tax I will have to pay?

[@Badgerworkshop]

Very interesting. I would be interested in insurance

[@SmallBusinessToolbox]

Might add that to the list! Cheers bud! 👍