When to register for VAT You must register if: your total VAT taxable turnover for the last 12 months was over £85,000 (the VAT threshold) you expect your turnover to go over £85,000 in the next 30 days You must also register (regardless of VAT taxable turnover) if all of the following are true: you’re based outside the UK your business

Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors do not have to register, but deductions are taken from their payments at a higher rate

Register if you’re self-employed If you have to send a tax return and did not send one last year, you need to register for both: Self Assessment Class 2 National Insurance How you register depends on whether you’ve sent a tax return before or not. Register by 5 October in your business’s second tax year. You could

Who can apply for a National Insurance number You can apply for a National Insurance number if you: live in the UK have the right to work in the UK are working, looking for work or have an offer to start work You can start work before you receive your National Insurance number if you

Overview You must keep records of your business income and expenses for your tax return if you’re self-employed as a: sole trader partner in a business partnership You’ll also need to keep records of your personal income. If you’re the nominated partner in a partnership, you must also keep records for the partnership. There are different rules on keeping records for limited