When registration may be required
Who this guide is for: For people starting a sole trade or side hustle who need to know whether to tell HMRC, and what happens next.
- Step 1Gross trading income
- Step 2Register if required
- Step 3Receive UTR
- Step 4Keep records
- Step 5File and pay
Decision flow: £1,000 and below versus above
| Gross trading income | Taxable trading profit | Typical next step |
|---|---|---|
| £1,000 or less | Full Trading Allowance may mean £0 taxable profit from that trade | Registration or reporting may still be required in some cases — do not assume you can ignore HMRC |
| Over £1,000 | Profit depends on expenses or allowance method | Register for Self Assessment by 5 October after the tax year you started trading |
Compare the allowance with actual costs in Trading Allowance Explained.
Registering versus Self Assessment versus paying
- Registering as self-employed tells HMRC you have a trade and need a Self Assessment record.
- Registering for Self Assessment is the broader process that issues your Unique Taxpayer Reference (UTR).
- Receiving a UTR lets you file online and manage your account.
- Filing a return reports income, expenses and allowances for the tax year.
- Paying tax settles Income Tax and National Insurance that are due.
Tell HMRC you need to file by 5 October following the end of the tax year in which you started trading. For example, if you started between 6 April 2025 and 5 April 2026, register by 5 October 2026.
For online Self Assessment, file your return and pay any balancing amount by 31 January after the tax year ends. For 2026/27, that deadline is 31 January 2028.
What happens after you register?
- UTR — HMRC issues your Unique Taxpayer Reference.
- Online account — use Government Gateway / your Personal Tax Account to file.
- Record keeping — start from day one; see Business Records for Sole Traders.
- Annual return — file Self Assessment for each tax year you are required to.
- Payment deadlines — for 2026/27, file and pay online by 31 January 2028.
- Possible payments on account — advance January and July instalments if eligibility tests are met; see Self Assessment Payments on Account Explained.
Estimate Income Tax, National Insurance and first-year cash payments Use the Self-Employed Tax Calculator
Employed and self-employed together
PAYE on employment does not remove the need to report a trade through Self Assessment when registration rules apply. Tax already collected at source can affect whether payments on account are required.