Help with registering as self employed

[meejulie]

Help!! Hi, I'm so glad i've found this forum, I have been looking for somewhere to get advice on behalf of my son. Where do I start? He is 18, left college in June. He has been working part time for a company for the last 3 + years, he is paid by cheque, they make no tax or NI deductions. Since finishing college he is working more hours for them. He also works for a company week-ends where he is PAYE. He is has also started his own business hiring equipment. I know he urgently needs to register as self employed and register his business, as he is dyslexic this is falling on my shoulders and even though I am used to accounting and PAYE this is all a bit confusing. When I go to register him as self employed do I need to tick the boxes saying he has a business even though that is not registered yet, and how long does he have to register the business? Any help would be wonderful as I have been trawling the net for ages. Many thanks a confused mum! :(

[CassioAcc]

Hi,

You need to register as self employed within 3 months of starting the business. To register call HMRC

http://www.hmrc.gov.uk/selfemployed/register-selfemp.htm

As your son is also working elsewhere and paying NI on his PAYE income he can apply for a deferrment of Class 2 NI (self employed NI).

I'm sure you are aware that he will need to declare all earnings on a self assessment.

The Newly Self-employed Helpline is 0845 915 4515

[meejulie]

Thanks, you have given me somewhere to start, I am sure I will be back with more questions, now to do it!

[meejulie]

Here I am already, How do I apply for a deferrment of Class 2 NI (self employed NI)? Thanks

[CassioAcc]

http://www.hmrc.gov.uk/nic/ca72b_notes_12_08.pdf

[Blackberry]

You should really get an accountant, they will sort all this stuff out for you and advise you on the best set up for the business etc.

I specialise in helping small businesses and would be happy to help if you needed it.

[meejulie]

I was thinking it might be easier to get an accountant to set him up. I will be fine keeping the books once he is set up but I know he could loose money if it's not done properly. Thanks for your offer but we are in Poole/Bournemouth bit of a distance from you. I don't suppose you could put us in the right direction for finding someone more local? Thanks for taking the time to reply.