Already completing self assessment, anyhting else to do for a sole trader?

Hi HMRC team, I'm full-time employed and complete a self assessment, due to foreign income. I might want to explore in addition to set up a small business as a sole trader beside my employment. Do I need to register anyhting else with HMRC or do I just complete the relevant section in my Self Assessment? Sorry to ask, but the pages about Sole Trader and self employement are not very clear to me. Many thanks in advance hermest

Hi

You would use the same UTR and update your return when filing.
You may also need to register to pay class 2 National Insurance if you are not also employed under PAYE - please take a look at Self-employed National Insurance rates

Thank you

Hi, many thanks for your response, that is very helpful. I already employed under PAYE and pay national insurance. Best regards Torsten

Hi hermest,
You can declare your self employment income using your existing UTR and tax returns.
You do need to register as Self Employed, so that you can pay voluntary Class 2 NIC, if your profits are below the threshold.
Set up as self-employed (a 'sole trader'): step by step
Thank you.