If you're self-employed, you'll have to register your business with HM Revenue & Customs, and complete a Self Assessment Tax Return every year.
If your business is run as a partnership, each partner is still required to complete a Self Assessment Tax Return each year, but in addition, the nominated partner must also complete a Partnership Tax Return.
Businesses also have to register for VAT once their turnover goes above a certain threshold.
Below is a link to HMRC with further advice if you're considering self-employment
www.gov.uk/guidance/help-and-support-if-youre-self-employed
More help and information, including the current VAT registration threshold, can be found through HM Revenue & Customs website below.
