Setting up properly as sole trader

[aveatry]

Registering as a sole trader is quick, and keeping basic records of income and receipts makes the tax return pretty painless.

Except Labour are introducing digital tax starting now and you have to do it every quarter and use recognised software

 

[mrrusty]

Except Labour are introducing digital tax starting now

They are, but this year you have to turn over > £50K. Next year £30K and then £20K after that. Get an accountant and some software (I use freeagent which is free with RBS/Natwest business accounts) and it's no big deal

 

[Murdochcat]

Except Labour are introducing digital tax starting now and you have to do it every quarter and use recognised software

Actually this goes back to the Conservatives who set the times and dates

 

[aveatry]

They are, but this year you have to turn over > £50K. Next year £30K and then £20K after that. Get an accountant and some software (I use freeagent which is free with RBS/Natwest business accounts) and it's no big deal

That's interesting what about a turnover of under 20k could that indicate that they are raising the tax threshold to 19k.