Not Capital Gains, but you need to register at http://www.hmrc.gov.uk for self assessment. If your income is high enough, you will pay Schedule D tax, and Class 4 National Insurance. Anyone self-employed also needs to pay Class 2 National Insurance.
why would you need to pay capital gains tax? You will certainly have to pay income tax though. you need to decide what legal structure to be - are you going to be a limited company or just a sole trader? you need to register your new status with your tax office and start keeping accurate records of your income and business-related expenditure, so it is easy to do the first tax return in due course. Not sure about insurance - I would have thought you might need public liability insurance? You would also need to tell your home insurance company and maybe pay extra for running a business from home. You will also need to tell the council and they might charge you business rates.
You need to register with HM Revenue Customs as self employed, and if your turnover is in excess of ��68k you need to register for VAT.Capital Gains Tax is due when you make a gain on the sale of an asset; it isn t a tax on the profits of a business.You probably need Product Liability Insurance - see attached link.
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