New to self-employment - tax and NIC 2021-22

This publication sets out some of the tax and other commercial issues to be considered by new self-employed business owners.

The booklet covers:

  • Taxation of profits
  • Self-assessment returns
  • Paying tax and payments on account
  • National Insurance
  • VAT
  • Making Tax Digital
  • Self-employment v incorporation

Practical uses:

  • This is a useful handout for the newly self-employed and other self-employed clients that are unsure how are they will be treated by HMRC.
  • Add material to your website and drive traffic to the page using social media.
  • Send a copy to staff. Will update their understanding of the issues presented. You could also instruct them to send copies to any friends or family that may find the information useful.

Other Spotlights publications available to subscribers

Pension Contributions - tax breaks 2021.22
Working from home - tax breaks 2021-22
Off-payroll working changes - from 6 April 2021
Trivial benefits - tax-free benefits 2021-22
Extracting company profits - strategies for 2021-22
Utilising COVID tax losses 2021-22
Capital expenditure - tax breaks 2021-22
Incorporating a property business - 2021-22
Making the most of digital accounting 2021-22
Staying ahead of business challenges 2021-22
Why tax planning is a sound investment 2021-22
New business challenges in the post-COVID economy 2021-22
Business exit challenges in a post-COVID economy
Creating multiple income streams 2021-22