Book Keeping - The Basics (2004-01-01)
DEALING WITH THE INLAND REVENUE AND APPOINTING AN ACCOUNTANT
- As a self-employed person you must inform the Inland Revenue that you have commenced self employment within 3 months of commencement.
- You must also advise the contributions agency as you may be liable to pay National Insurance. The rate of Class 2 National Insurance is currently £2.00 per week.
- You can appoint an agent to look after your tax affairs and deal with the IR on your behalf. Look for an accountant with experience of your trade or profession.
No qualifications are required to practice as an accountant.
So make sure you use someone who has plenty of experience and a commitment to high professional standards.
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