The short version: A CWF1 is the paper form you use to register as self employed with HMRC. Most people do this online these days, but the paper form is still available if you prefer.
Why do I need to register?
When you’re self employed, tax isn’t automatically deducted from your earnings like it is for employees. You need to tell HMRC you’re self employed so they know to expect a Self Assessment tax return from you.
What information do I need?
The form asks for your personal details, National Insurance number, business address, and information about what you do. Pretty straightforward stuff.
What happens next?
After you register, HMRC will send you a Unique Taxpayer Reference (UTR) number. You’ll need this to file your tax return and pay your tax bill. Keep it safe.
When’s the deadline?
You need to register by 5th October in your business’s second tax year. Miss it and you could face penalties. If you’ve started trading, don’t leave it too long.
Just started working for yourself and not sure where to begin? Give us a shout and we’ll walk you through it.
