Self-employment: a guide
Our PDF guide to self-employment supplements the information in this self-employment section.
Our guide to self-employment aims to help:
- self-employed people who want detailed tax and related information in one place, and
- non-tax specialists who advise low-income self-employed individuals and partnerships.
The guide covers setting up as a sole trader or a partnership and how to register with HMRC. It explains how you can prepare accounts, what business records you need to keep and how to complete your self assessment tax return. It contains a detailed case study showing how to prepare accounts and what to include on your 2025/26 tax return, using the cash basis.
The guide covers other areas you may need to consider if you decide to grow your business such as taking on staff or registering for VAT. It also explains what you need to do if you decide to stop trading and has detailed guidance on universal credit for the self-employed.
Making Tax Digital for income tax is a new tax reporting system some self-employed individuals will have to use. It is being phased in over three tax years, starting from April 2026. See our detailed guidance on Making Tax Digital to see if you need to use it and what you need to do.
Also, you may be interested in our gig economy guidance if you have a ‘side hustle’, use online platforms, are a social media influencer or earn from gig work.
