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Posted Thu, 14 Sep 2023 17:32:42 GMT by FCP
Hi, I am currently Full Time Employed earning more than 100k/year and I am considering setting myself as a sole trader to pursue a parallel line of business. I already file a Self-Assessment report on a regular basis (i.e. I have an Unique Taxpayer Reference, Goverment Gateway ID, etc). Do I still need to perform Step 4 'Register for Tax', as defined on ? If so, how? I do not expect to reach the 'Small Profits Threshold' (£6,725 for the year 2022/23 and 2023/24), do I still need to register for Class 2 National Insurance contributions? If so, how can I do it? I do not expect to reach the VAT threshold. Many Thanks
Posted Fri, 22 Sep 2023 10:25:26 GMT by HMRC Admin 25
You will still need to register as self-ehmployed.
If you do not meet the threshold to pay class 2 it will not be charged:
Register for Self Assessment
Thank you. 

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