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Business registered for self assessment as sole trader. Now HMRC is verifying details which should take a week.
How long does it typically take to complete self assessments? And what sort of hassles are there typically in the process?
Thanks for your responses guys. My business is quite simple. I work on upwork as a freelancer online. That's my sole source of income. I'm yet to register it. I don't even know whether I should register as a sole trader or ltd. company.
I've made roughly 9,000 GBP the last tax year...
I'm barely getting by on my business and can't afford an expensive accountant. At the same time I can't manage the accounts myself. I want someone reliable.
How can I know if an accountant is good? What should I look out for? And what price can I expect? I hear they are pretty cheap for small...
Thanks for all the replies!
@Scalloway
If I register after 5 april, will I have to pay taxes for that year (05-apr-2016 - 05-apr-207) on January 31, or will it be the extended tax year? If its the former case, then I wont have any taxes to pay.
Thanks
@SteLacca
For NI purposes when am I...
I haven't yet registered my online freelancing business.
Only made just under 8000 GBP.
First income in October 2016. I havent registered it yet. I made less than the threshold.
Questions:
1) Should I register now?
2) When should I do the self assessment?
3) When should I do the return??
4)...