How do you pay tax if you’re self employed in the UK?

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How do you pay tax if you’re self employed in the UK?

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When you become self-employed, the way you register and pay your tax will change slightly. When you work for a company, your employer will handle your tax and it will be deducted from your paycheck on a monthly basis.
If you are self-employed, you will need to register with HMRC as an individual or limited company for self-assessment tax. This will mean that you submit information about your earnings for the year and pay the correct amount of tax once a year. You can usually register for self-assessment online on the HMRC website. When I first became self-employed, I consulted a firm which specialized in accountancy in Essex. I really didn’t know where to start, but the professional help guided me through the process and on reflection, I think that self-assessment is actually more simple than it might seem. I hope this helps, good luck.

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