HOW DOES SELF EMPLOYMENT TAX WORK IN THE UK?

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Wondering how tax works as a Sole Trader? In this video Dan gives you all the key points.

Dan cover questions including as:

When do I pay my tax as a self employed person
How does tax work as a Sole Proprietor
Limited company vs sole trader (uk)
Do I have to pay national insurance
How do I pay national insurance as self employed
When do I pay national insurance as a sole trader

..... and more!

#selfemployed #Startup #HMRC

If you need help with registering, or have further questions - please get in touch below.

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Call: 02392 240040
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Thank you for taking time to explain this simply - it's much appreciated

clarelonghurst
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I can’t even put into words how helpful these videos are. Thank you 🙌🏼

lnlhome
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Pretty useful thanks so much! I'm seeing most of your videos cause I'm starting as a sole trader now. You have amazing thumbnails images for each videos haha love it!

horasiosantaella
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Thanks for the video Dan...easy to digest and well explained

harjittheyara
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Wish they'd teach this at schools.

Prettysunshine
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Best to the point, most informative video Iv watched on YouTube about tax

SAYYOUCAN
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Thank you ..been searching for something like this. Very helpful;

beth
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Thanks for the simple video! This will be my first year having to pay tax as self employed, I’m barely 18 so it’s quite a lot for me to take in.

LatinUnion
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Great video explaining it all so simply

sassybee
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It was a really helpful video Now I can say I have dot how this works and can read through more than before to watch. Thank you Sir.

Regards. Alessandro

lexios.s
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Did my dude just say 22, 000 pages! Thanks for the great info too boss!

HJDL
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Thank you for the video! I learned a lot

itschloetsang
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It was really interesting. However, I wish you would explain how to calculate it as well.

shaghayeghs
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really useful! thank you i have subscribed

RiceNinja
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Lovely video. Could you please expand on why a sole trader should think about a limited company once they earn a certain amout. Thank you

rossthompson
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Binging all your content now, thank you for making these. I work in the film industry and have normally been paid as PAYE where tax and NI deductions are done for me by production, but this year I have started doing invoicing jobs (alongside the PAYE work) where I have to sort my own tax - do I need to register as self employed in order to submit a self assessment in this case?

aleksandrapryt
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Thank you Dan. So just to be absolutely sure I've understood..we need to save approx 25% of our total income into the business before expenses etc Sorry, I was touched with the very-slow-to-learn- stick !

angiecarter
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Accounting profit = pay - expenditures
12.5k profit free
13.5k - 50k - 40% tax
50k on ward, 45% tax

tipwo
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Hi, due to my turnover being a lot lower this year I have decided to do my own self assessment. With the help of your videos I have found it an easy task . However, the part that confuses me, is when filling out the expense box for wages . It states not to include your own wages . My tax due is calculated for me on my profits, using the cash basis method . So where are my tax/ni contributions calculated on my drawings? which I take each week in order to pay my personal expenses.

sharonfrost
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Great video, thanks. What can I claim and not claim, for example a new phone or printer?

ObsidianXXX