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Posted Wed, 15 May 2024 04:58:30 GMT by Cherry Wong
Dear HMRC, If I am a service contractor to provide IT services for a HK company (not sure if it has UK presence or not) and locating in UK. As a sole trader, could you advise if below are correct or any missing? 1. as i just provide services to one company, is it eligible as a "sole trader"? 2. do i need to receive the payment (from the HK company i served) in my business bank account or any personal account will be fine? 3. for point 2, does it require to have the bank account in HK or UK, any concern? 4. setup/register as sole trader (self-employer) ( 5. what kind of NIC, tax are required? 6. should the above perform in the self-assessment? Monthly or annually? Many thanks. 

Name removed admin .
Posted Fri, 17 May 2024 09:58:43 GMT by HMRC Admin 25
Hi Cherry Wong,
1.  Yes
2.  It can be either
3.  It can be either but the income must be reported in sterling
4.  Correct
5.  Class2 NIC  and Class 4 NIC
6.  Annually
Thank you. 

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