How easy is it to set up your self employed business with HMRC as a holistic/ massage therapist ?

It is quite straightforward and not scary at all.

 At the beginning contact HMRC to tell them you are self-employed.

To do this.

1 Go online onto HMRC website.

2. look for Register for self-Assessment page.

3. Fill in your online form.

Information you will need are.

Name, address, National insurance number, business details including what you do and date you started.

When you register HMRC will send you your Unique Taxpayer Reference number. (UTR).

Set up a government gateway account to manage your tax accounts online.

Once a year in January you will file your online assessment, you can do this easily for yourself or pay an accountant (they will charge you about £800.00) I keep all my finances simple PAYE, cash bases , I just have to have my takings total and expenses total , a lot of the boxes are not applicable to me. The HMRC will calculate your profit for you and you will pay 20% tax over £12,570 on your profit. The national insurance is little or non at all if you are under or just on the lower amount before tax.

Keep records, to be organised and makes process easier.

Set up a business bank account or having a separate bank account helps to be organised. Keeping your personal and business accounts separate helps to keep you organised.