If you have set up in business as a sole trader then there is something that is very important to do. What is it?
Tell the taxman…now!
If you don’t tell the HMRC that you are trading within a 3 month period of starting in business then you could be liable to a £100 penalty and more attention from the inspectors than you really want. Lewis Smith & Co. have had quite a few instances of people coming to us who have forgotten to register and even if we write a nice letter on your behalf we can’t guarantee to get you off the hook.
The registration process is easy and HMRC provides lots of information to help.
Lewis Smith & Co. specialise in helping people to start up in business whether as sole traders or by setting up limited companies. Just give us a call on 01384 235549 to set up a free, confidential meeting to discuss your business ideas.
Lewis Smith & Co. – Business start-up specialists for Dudley