Guidance

Check what taxes may apply to you as a sole trader

Find out which taxes you might need to register for as a sole trader and the rules you'll need to follow.

From:
HM Revenue & Customs
Published
31 July 2024

If you鈥檙e a sole trader, or thinking of becoming one, use this tool to help you find out:

  • taxes you may need to register for
  • rules you need to follow
  • registrations you may need to complete

Before you start

You鈥檒l need to know what business activities you are doing or will do.

This tool will not register you as a sole trader or for any taxes. Your answers are not stored or seen by anyone.

Updates to this page

Published 31 July 2024

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Contents

Part of Set up as a sole trader: step by step

  1. Step 1 Check if being a sole trader is right for you

    1. Find out more about becoming a sole trader

  2. Step 2 Choose your business name

    1. Check the rules for naming your business

  3. Step 3 Check what records you need to keep

    When you start trading you must keep records. This will help you work out your profit or loss for your tax return.

    1. Find out what business records you need to keep

  4. Step 4 Register as a sole trader

    1. Check how to register as a sole trader

  5. Step 5 Check what taxes may apply to you

    1. You are currently viewing: Check what taxes may apply to you as a sole trader

  6. Step 6 Plan for your tax bill

    You may need to pay Income Tax on your profits and may need to pay National Insurance contributions.

    1. Get an estimate of how much you will need to pay
    1. Find out more about Income Tax rates
    1. Find out more about National Insurance rates

  7. Step 7 Get help and support

    1. Join a webinar or watch a video to learn more about your responsibilities
    1. Find out how to choose a tax agent if you want to use one