Quote:
Originally Posted by ephemeris
Also you don't actually need to register anything as a sole trader. So long as you're registered for tax, there's nothing else you need to do. You're supposed to declare everything you make, but all which is under 12k (including other income) is tax free. Tax is calculated on everything you earn. For NI, you can top up whenever you like.
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My accountant (a lady friend I met on a paid clinical trial 2 months ago, but who will be my accountant) gave me some advice on starting out, sole-tradership and limited company's etc. This is stuff I learned about in business school 8 years ago but, that was 8 years ago so I'm not gunna lie to myself and say I GOT THIS. I'd prefer to pay a professional and not only that, but when I do need her, she's not a random stranger that I don't know.
As for registering as a sole trader, I'd prefer to do that. To me it feels better than simply quietly making some extra money on the side. It'll encourage me mentally. To be officially self employed (even if on the side) is a step towards becoming a full time entrepreneur.
I believe I'm an entrepreneur anyway even though I haven't launched anything yet. I have the mind, the drive, the focus, the vision, the dedication, the belief, the want, the need, the obsession.
Yea ok I know that all sounds cheesy and cliche etc. But in simple terms I'm a businessman at heart, and I will pursue that shit until I'm successful.