Guide to Being Self-Employed and paying Tax

Here is a checklist to consider when starting out as self-employed:

Do you have at least three months of living expenses saved up?
Are you registered for self-assessment with HMRC?
Do you have access to all the equipment you need?
Have you set up your workspace safely and ergonomically?
Do you have a separate bank account to store business cashflow?
If you’ll be turning over £25,000+ do you have an accountant?
Do you have a safe way to store all your work documents, backed-up and encrypted?
Do you have all the appropriate insurance for your line of work? (most commonly public liability insurance, but specialists might need insurance tailored to their field)
Do you have a workflow, routine, schedule or business plan to follow?
Do you have your first job lined up?

Got through this? Then try looking at this survival guide from Bectu:

For help filling out your tax see:

And some FAQ’s you may have (there will be plenty):

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