1. Run your business for yourself and take responsibility for its success or failure
2. Have several customers at the same time
3. Can decide how, where and when you do your work
4. Can hire other people at your own expense to help you or to do the work for you
5. Provide the main items of equipment to do your work
6. Are responsible for finishing any unsatisfactory work in your own time
7. Charge an agreed fixed price for your work
8. sell goods or services to make a profit
Many of these also apply if you own a limited company but you’re not classed as self-employed by HMRC. Instead you’re both an owner and employee of your company.
You can be both employed and self-employed at the same time, for example if you work for an employer during the day and run your own business in the evenings.
Registering as self-employed
keep business records and records of expenses
send a Self Assessment tax return every year
pay Income Tax on your profits and Class 2 and Class 4 National Insurance – use HMRC’s calculator to help you budget for this
You’ll need to apply for a National Insurance number if you’re moving to the UK to set up a business.
