When is self-employed tax due?
Self-employed tax and NIC is due following the end of the tax year.
For untaxed income earned during the 2019-2020 tax year, the deadline for submitting your taxes online is 31st of January 2021.
Do I have to pay VAT if I am self-employed?
Yes, once your revenue exceeds £85,000 you must pay VAT.
Do sole traders pay corporation tax?
Individuals that operate as sole-traders do not pay corporation tax. They will pay tax on their business profits through annual self assessment.