Timescale for registering self-employed question

Discussion in 'Legal' started by Joe E, Jan 10, 2019.

Thread Status:
Not open for further replies.
  1. Joe E

    Joe E UKBF Enthusiast

    431 72
    Hi there

    My son has left full-time employment and is looking to go self employed shortly, I understand that 3 months is when you should be registering for this but is this set in stone only atm he doesn't know exactly when his first day of trading will be, but potentially it could be just after the 3 month period.
    So would it be better to do it now even though he isn't trading and receiving a new income yet?

    Many thanks
     
    Posted: Jan 10, 2019 By: Joe E Member since: Oct 24, 2007
    #1
  2. ecommerce84

    ecommerce84 UKBF Legend

    989 347
    The rules on when you need to register have changed from the old 3 months system.

    You now have to register by October 5th in your businesses second tax year. As an example if your son starts trading on 1st May 2019 and runs his tax year to 31st March, he would have until 5th October 2020 to register.
     
    Posted: Jan 10, 2019 By: ecommerce84 Member since: Feb 24, 2007
    #2
    • Thanks Thanks x 1
Thread Status:
Not open for further replies.