Registering A Sole Trader

[e-web solutions]

I am thinking of going free lance and registering myself as a sole trader.

I was wondering what is the best way to go about this and what steps to take.

[10 Yetis]

There is a man "they" call Alan, he is an accountant, but don't hold that against him, he is very nice.

He will, no doubt, shortly be moseying on by and he will give you all the answers you need.

From my experience, I think all the relevent info is somewhere on the Businesslink site http://www.businesslink.gov.uk

[bwglaw]

I am thinking of going free lance and registering myself as a sole trader.

I was wondering what is the best way to go about this and what steps to take.

1. Appoint an Accountant or someone who is adequately competent
2. Inform the Inland Revenue re: Tax and NI (1. above will do it for you)
3. Open a business bank account (not compulsory but good practice)
4. Start trading!

[webdesignguy]

couldn't agree more with your first point handsongroup a good accountant is VITAL. worth their weight in gold.

[JoyDivision]

I am not too sure, my parents have been trading for 8 years now and got inspected by Inland Revenue once, they said they were some of the best accounts they have ever seen on a home visit.

As longs as you can do basic maths and you read up on all the laws if your earnings are not that high its probably not worth it. Otherwise all your profits will go on accountants and lawyers.

Maybe after the turnover is above £20,000 it might be worth looking into.