Registering as self employed should be the first step after you have decided to take the leap and go it alone. You need to notify HM Revenue and Customs of your self employed status as soon as possible; if you fail to do so within three months of becoming self employed, you risk a £100 fine.

HM Revenue and Customs need to be informed in order to ensure that your tax affairs are dealt with correctly. You will be expected to pay a different type of National Insurance Contributions, and you will need to complete an annual self assessment.

Registering as self employed

There are three ways methods for registering as self employed.

• By phone. Registering by phone is the easiest option. Call the Newly Self-employed Helpline on 0845 915 4515 and they will guide you through the process. You will need your National Insurance number to hand, as well as the exact date on which you became self employed.
• Online. It is also possible to register as self employed online. Click here to register as a sole trader, or click here to register as a partner (remember that each partner will have to register separately).
• By post. You can fill in a registration form and post it back to HMRC. Click here to download the form.

Finally, if you have appointed an agent (for example an accountant) to carry out the registration process on your behalf, you will need to fill in a form authorising them to do so. Click here to download the authorisation form.