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Posted Fri, 20 Dec 2024 00:49:28 GMT by Sayantika
Hi, I'm an art teacher, teaching art to few students online and my home. My monthly income is around £800 - £1000. So I registered as a sole trader and got my UTR. Now I can see that I don't need to register as a company, or do I need to? Should I just wait till 5th of April 2025 for HMRC to let me know how much tax I have to pay after I submit my self-assessment? Also, I wanted to provide some certifications to my students and for that I was discussing with Trinity college of London. They have a pre-requisite that I should have a registered business. So I guess I have to register my business anyway, am I correct? What are the implications of doing it? Thanks. 
Posted Tue, 07 Jan 2025 14:42:42 GMT by HMRC Admin 19 Response
Hi,
If you are a sole trader then you do not need to register as a company.
The balance due from your self employment income will be calculated once you submit your Self Assessment tax return. 
Thank you.

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