Contracting LTD to Sole Trader

[dx4100]

Hey All

Looking for a simple answer and its surprisingly difficult to find it just googling. So forgive my stupidity and hopefully someone can quickly answer it.

Just closed my LTD and I am going to do any future freelance work as a sole trader. I am still registered for Self Assessment. Is this good enough to just start acting as a sole trader or do I need to fill a some form to tell HMRC I am now going to be a sole trader. There is CWF1 which looked likely but its talking about "re-registering" when I haven't unregistered.

Thanks

[jamesbrown]

Yes, nothing special. Registering for self assessment is the main thing, but you're already registered (and VAT, as necessary).

I hope you understand that you're unlikely to get work this way, certainly not through an agency. Also, I hope you didn't MVL YourCo. I appreciate you didn't ask about either of those things, but consider them a bonus

[dx4100]

No MVL - I only had a couple of grand left in the company so just dissolved company and used CGT allowance.

Future work is direct so agency isn't an issue.

Thanks!

[Lance]

Hey All

Looking for a simple answer and its surprisingly difficult to find it just googling. So forgive my stupidity and hopefully someone can quickly answer it.

Just closed my LTD and I am going to do any future freelance work as a sole trader. I am still registered for Self Assessment. Is this good enough to just start acting as a sole trader or do I need to fill a some form to tell HMRC I am now going to be a sole trader. There is CWF1 which looked likely but its talking about "re-registering" when I haven't unregistered.

Thanks

when you say you haven't unregistered. What haven't you unregistered from.

You MUST register with HMRC as self-employed. That has nothing to do with VAT, LTD, or self-assessment.
Register for Self Assessment: Register if you’re self-employed - GOV.UK (www.gov.uk)

[jamesbrown]

when you say you haven't unregistered. What haven't you unregistered from.

You MUST register with HMRC as self-employed. That has nothing to do with VAT, LTD, or self-assessment.
Register for Self Assessment: Register if you’re self-employed - GOV.UK (www.gov.uk)

To quote the OP, “I am still registered for Self Assessment.” The OP will, therefore, already have a UTR and should have an online account with HMRC. All they will need to do is update those records (to pay Class 2 NICs) and won’t need a new UTR or to re-register for self-assessment. Will see if I can find a link for the OP...

[jamesbrown]

It looks like the online CWF1 is the easiest way to update your records. Provide your existing UTR in the relevant field and note that you've previously registered for self-assessment:

https://www.tax.service.gov.uk/short...e=CWF1&sub-dep