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I recently began freelancing, is there anything I need to register or do first?

Date: Jul 27, 2020

I recently began freelancing, is there anything I need to register or do first?

Q&A Monday | Season 1 | Episode 2 | Question 1

“I've recently began freelancing, what and how do I need to register or do first?"

Helen: So that all depends on how you’ve set yourself up, I’m going to assume that you have set yourself up as Self Employed rather than a Limited Company. So the main thing is to get yourself registered with HMRC as Self Employed. It’s a simple online form, that’s actually quite user friendly for HMRC.

That is one of the priority points to do, another thing I would do is check how you are keeping your finances. So how are you noting the income you receive and how are you recording your expenses so that you know what you’ve got coming in and what you’ve got going out.

This should give you a bit more of a view into where you are heading, help you track your cash flow and make things easier for your tax returns.