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The CWF1 form is used to register or re-register with HMRC as a sole trader. You can also register online.
If you need to tell HMRC that you’re self-employed using a CWF1 Form, the deadline is 5th October in your second tax year. Make sure you register in enough time to submit your Self Assessment tax return to minimise the risk of receiving a penalty for late registration.
Submitting a SA1 Form signs you up for Self Assessment, but there are lots of different reasons why you might need to register. A CWF1 Form confirms to HMRC that you’re setting up your own business.
The form will ask you for your personal details, National Insurance number, and the nature of your self-employed business. This includes the business name you plan to trade under, and the address where the business will operate.
HMRC will issue you with a Unique Taxpayer Reference (UTR) number, which you’ll need each time you submit a tax return.
As a self-employed person you’ll need to maintain good bookkeeping records which show how much money your business earns and what it spends. This information will help you complete your tax returns more easily, and make sure that you claim tax relief for any allowable expenses!
Learn more about our online accounting services for businesses. Call 020 3355 4047 to chat to the team, and get an instant online quote.
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