# self employed and trading as????



## ash0402 (Feb 27, 2012)

hi im in need of a little advice and wondering if any of you can help,
iv recently registered with hmrc as self employed and what i want to know is what does it entail trading under a differant name? for example 'john doe trading as wash and wax' 
do i need to register my company name somewhere? 
or do i just go out and get on with it!?
and help or advice would be appreciated


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## Thomas L (Jan 4, 2011)

when your self employed thats it as far as HMRC is concerned. If you want to register a company then you go Ltd and become an employee of your company.


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## GJM (Jul 19, 2009)

Not need for LTD if your not actually registering a company, doesn't stop you being a sole trader and trading as joe bloggs T/A wash n wax


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## ash0402 (Feb 27, 2012)

im not planning on registering as a limited company any time soon, so i can basically just go ahead then? 
is it okay to write invoices with just 'wash&wax' at the top, or does it need to say 'joe bloggs t/a wash&wax' ??
thanks guys


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## alexj (Apr 12, 2012)

Invoices are different to receipts

As giving someone an invoice usually means 

they have a certain amount of time to pay, 30, 60 or 90 days !

I would suggest you take a deposit for any job via cash or paypal, 

with an invoice issued by yourself stating the job details with

the remainder of the money paid on the day when the car is collected 

This could be issued by email if you receive the deposit via paypal

Then a receipt would be issued at the same time as payment at the end of the job, this could be prepared in advance on your computer, more professional than hand written. I would physically give this to the client when they pay, with your business card and maybe a promotional offer they could use at a later date.

On the numbered invoice and receipt (same number) you would have your trading name, your name, address (business or home if you dont have premises) and your phone number, website, email. Obviously the job description, the total and also the fact that you are self employed and pay your own tax and national insurance. 

This means that even if you receive cash you are still paying tax on it, as some people become suspicious or expect a discount for cash.


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## ash0402 (Feb 27, 2012)

okay got ya, thanks, can i just use invoices the same as receipts at the end of a job?
and do you only need to put your name t/a your company name on reciepts/invoices? or does it need to be anywhere else?
and just to confirm i don't need to tell hmrc or anyone else?


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## amiller (Jan 1, 2009)

ash0402 said:


> okay got ya, thanks, can i just use invoices the same as receipts at the end of a job?
> and do you only need to put your name t/a your company name on reciepts/invoices? or does it need to be anywhere else?
> and just to confirm i don't need to tell hmrc or anyone else?


You don't need to tell anyone else-no. There are requirements regarding record keeping for Self Assessment purposes though (e.g. you need to keep purchase records, sales invoices for a number of years, wages records, etc).

i'm guessing you won't be VAT registered, as there are a number of strict requirements regarding invoicing and registering if you are going down this route.

might want to think about a business bank account, trade insurance, various licences with the council perhaps?


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## MrReynolds (Jun 14, 2010)

Just thought id pop in and say there are some top blokes on this forum all willing to help each other out!

If only everyone was like this in the real world!

And thanks for the advice posted, it has helped me out aswell as the OP!


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## ash0402 (Feb 27, 2012)

:thumb: brilliant, thanks for the advice everyone!
and your right MrReynolds top blokes


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## alexj (Apr 12, 2012)

HMRC will send you a self assessment tax return which you will need to fill out in retrospect after a year with your incomings minus your outgoings, 

and then there is the figure you start paying tax which is £8,105 2012/13 

Dont forget to pay your NI otherwise you wont get a state pension

So if incoming - legitimate outgoings is over £8105 you pay 20 % on anything over

If you think youre going to be paying tax make sure you save it

all of these figures and proof will be needed if HMRC ask you for details, 

you must keep evidence for 7 years.

It is better to have a seperate business bank account but is not obligitory


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