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Where Taxpayers and Advisers Meet

self employment registration & UTR

lucky62
Posts: 12
Joined: Sun Oct 29, 2017 1:44 pm

self employment registration & UTR

Postby lucky62 » Mon Nov 05, 2018 10:11 pm

hi

I already have a UTR, I think was issued when I was self employed for a brief period in 1990. Since then I have been in regular employment but earlier this year lost my job but I am thinking of starting a market stall in the near future. As I already have a UTR would I need to register as self employed when I start trading bearing in mind that It'll be unlikely I will hit the £1000 trading threshold or would I just need to declare my earnings through self assessment without registration (as I have my UTR already? ) I'm unsure at this point if I would continue trading in 2019/20 it depends how well I do when start trading.

Thanks.

D&C
Posts: 29
Joined: Thu Dec 22, 2016 10:04 pm

Re: self employment registration & UTR

Postby D&C » Mon Nov 05, 2018 10:40 pm

I don't think UTR's (for individuals at least) existed until Self Assessment started in 1996:97.

But you have until October 2019 to register for tax purposes so may be prudent to wait and see how it goes as far as exceeding the trading allowance.

Remember not registering and paying National Insurance may impact the amount of your State Pension. Might not do of course but only you will know for certain.

lucky62
Posts: 12
Joined: Sun Oct 29, 2017 1:44 pm

Re: self employment registration & UTR

Postby lucky62 » Mon Nov 05, 2018 10:54 pm

I don't think UTR's (for individuals at least) existed until Self Assessment started in 1996:97.

ah! I think it may be because I had to fill in self assessment when I sold some shares bought through a company Share Save Scheme. Would I need to register self employed in that scenario?

lucky62
Posts: 12
Joined: Sun Oct 29, 2017 1:44 pm

Re: self employment registration & UTR

Postby lucky62 » Mon Nov 05, 2018 11:02 pm

what I mean to say is: if I have a UTR already, am I not already registered to declare any self employed earnings through self assessment?

SteLacca
Posts: 426
Joined: Fri Aug 07, 2015 2:17 pm

Re: self employment registration & UTR

Postby SteLacca » Tue Nov 06, 2018 4:16 pm

You should still tell HMRC, otherwise you won't be registered for Class 2 NI, which will cause you a lot of headaches later. HMRC have a tendency to remove Class 2 NI calculated on a Tax Return when they can't match it with a NI record, leading to an underpayment.

I currently have a matter working with HMRC internal policy challenging the legality of them doing this, but for the moment, that's how they are working,

jason13
Posts: 147
Joined: Mon Mar 28, 2011 2:02 pm

Re: self employment registration & UTR

Postby jason13 » Mon Nov 12, 2018 1:25 pm

I currently have a matter working with HMRC internal policy challenging the legality of them doing this, but for the moment, that's how they are working,
Is more information about this available somewhere?

SteLacca
Posts: 426
Joined: Fri Aug 07, 2015 2:17 pm

Re: self employment registration & UTR

Postby SteLacca » Mon Nov 12, 2018 4:30 pm

There isn't, yet, and I can't provide any because of client confidentiality.

Suffice to say, the wording of the legislation, and several FTT cases all support my position. Unfortunately, FTT are not binding.


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