Best way to keep self employed records

[L_Bailey]

Hi Guys,

I'm fairly new to all this, and just wanted some advise on the best way you have come up with to keep the appropriate records?

I'm also not sure on national insurance payments? do i need to pay anything for being self employed? if so how do i go about doing it?

all advise is greatly appreciated!

Thanks
Lucy

 

[scottydolly]

Hi Guys,

I'm fairly new to all this, and just wanted some advise on the best way you have come up with to keep the appropriate records?

I'm also not sure on national insurance payments? do i need to pay anything for being self employed? if so how do i go about doing it?

all advise is greatly appreciated!

Thanks
Lucy

When you register as a sole trader they should be telling you all this. You will have to pay NI contributions. As for your records get a spreadsheet laid out with all your income and expense etc x

 

[EmJ]

My accountant helped me out with all of that. I get sent letters twice a year to pay my ni and accountant does the rest

 

[L_Bailey]

I registered self employed but haven't had any more information. the HMRC website is rubbish and doesn't actually tell you what you need to do :/

I have been having a look into it and because i will be earning very little to start with can i get a small earnings Certificate? even though i'm employed by someone as well?

are accountants expensive though?

Thanks again.

Lucy

 

[scottydolly]

I registered self employed but haven't had any more information. the HMRC website is rubbish and doesn't actually tell you what you need to do :/

I have been having a look into it and because i will be earning very little to start with can i get a small earnings Certificate? even though i'm employed by someone as well?

are accountants expensive though?

Thanks again.

Lucy

I have excemption to pay class4 NI contributions because i fall below a certain Threshold in my self employment and already pay full NI contributions through my other wage. I did it over the phone first time and when it expired they sent me out a renewal request form

 

[Lynne Baker]

If you actually phone the revenue they will tell you everything you need to know.

 

[squidgernetball]

If you actually phone the revenue they will tell you everything you need to know.

And you can be very vague - they don't even ask for your name!