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A tax question

asked by Dan Hirst posted 11 Months ago at 17:53
Finally taking plunge and setting up my own business - scary..

I'm pulling together paperwork , but do I need to deal with tax office, have heard it can wait one year?
1-1 of 1 Answers
Caroline Horwarth answered 11 Months ago at 21:40
Yes, you don't have to pay any tax in the first year,but you do need to tell HMRC that you are self employed/working for yourself from the beginning. At the end of the year you will have to complete the self assessment form.
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