Tax
Self-employed people are responsible for paying their own tax and National Insurance. They have to keep a detailed records of what they earn and spend on the business and send their business accounts to HM Revenue and Customs every year. Most self-employed people use an accountant to make sure they pay the correct tax and claim all the possible tax allowances.
As soon as you become self-employed you should register yourself for tax and National Insurance by ringing the HM Revenue and Customs telephone helpline for people who are self-employed, on 0845 915 4515.