New figures from the Office for National Statistics show that 14% of the UK workforce are now self employed. This adds up to 4.2 million people with a rise of over 360,000 in the number of people who are self employed from 2008 to 2012. The infographic below shows how self employed workers relate to employees.
Infographic by Office for National Statistics (ONS)
If you are becoming self employed for the first time you need to make sure that HMRC are aware of what you are doing. The easiest way to do this is to register as a sole trader. However for many businesses there is a benefit to forming a limited company. Whether you choose to register as a sole trader or form a limited company you can do both for free through our website.
To find out more about starting your own business contact our business consultants on 0800 0828 727