Going self-employed

[tuff_enuff_toft]

The mrs is testing the waters with going freelance (self-employed) in mobile beauty etc, so just after some advice.

 

As this is all new, do you have to register as self employed? What are the pros and cons of registering?

Are they are pitfalls or advice or even loopholes to be aware off? Obviously, all costs receipts etc and sales would be documented.

 

Does self employed affect your National Insurance status etc?

 

Any advice or even stuff I haven't even though off?

 

Thanks,

TnT

[BIGIFA]

If she is going to be only self employed she will need a UTR number so he will have to register for that

 

she will have to pay her own national insurance in the form of type 2 and type 4 where this is necessary

 

if she is calming tax credits they will have a few hoops to jump through but she will still get it

 

make sure everything is documented and set up a separate bank account with a card for business purchases just to make things easier to keep track of (perhaps a Tesco credit card that you can earn club card points on just be sure to pay it off every month to avoid interest charges lol)