Can a sole trader become dormant?

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Morning

I work as a sole trader as a software developer. I understand that when a limited company isn’t trading, it’s got to register as dormant. Well, I’m not currently doing business anymore as a sole trader - so, does that mean I have also got to register as dormant?

Cheers

Answers

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Sole traders do not need to register themselves as dormant. When you stop self-employment, you must contact HMRC to tell them that you are no longer self-employed. HMRC will then cancel your Class 2 National Insurance Contributions.

You will have to send a final Self-Assessment tax return by 31st October (by post) or 31st January (online) after the end of the tax year in which you ceased to be self-employed. Your final Income Tax and Class 9 National Insurance payment should be made by 31st January also.

a year ago
 

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