Firstly, you need to work out which tax year your start date falls into. The tax year runs from 6th April to 5th April, so your start date falls into the tax year ended 5th April 2014. You must therefore register by the following 5th October, i.e. 5th October 2014. As you are registering as self employed, the form you need to complete is HM Revenue & Customs (HMRC) form CWF1 or you can register with HMRC online at www.hmrc.gov.uk.
You will also need to pay Class 2 National Insurance which is only £2.70 per week for 2013/14 so most people choose to pay for these contributions via Direct Debit. You will need to complete HM Revenue & Customs form CA5601 if you would like to pay via this method.
Although you have some time before you need to register, avoid leaving it too long as you may face penalties for late registration.
Please note, this is merely with regards to self assessment, and does not include VAT or employer matters for example.
Your local TaxAssist Accountant would be happy to help you meet your responsibilities with HM Revenue & Customs, and can also help you to set up your records or put together a cashflow forecast etc.
By Jo Nockels
Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.