You could be classed as a trader if you sell goods or services. If you are trading, you are self-employed.
You are likely to be trading if you:
- Sell regularly to make a profit
- Make items to sell for profit
- Sell items on a regular basis, either online, at car boot sales or through classified adverts
- Earn commission from selling goods for other people
- Are paid for a service you provide
If you are self-employed, you may need to set up as a sole trader and for this we are here to help you.
Use form SA1 if you need to register but you are not self-employed, depends on your circumstances. For example, if you:
- Become a company director
- Receive income from land and property in the UK
- Have taxable foreign income of more than £300 a year
- Teceive yearly income from a trust or settlement
- Sell shares, property or other assets liable to Capital Gains
- Have yearly income over £100,000
- Get untaxed income that can’t be collected through your PAYE tax code
- Have income over £50,000 and you or your partner carry on receiving Child Benefit payments
- Have Capital Gains Tax to pay
