CWF1

A CWF1 form is something that you fill out when you’re self-employed. You use it to tell HMRC that you are earning money and need to do a Self Assessment. You can use it both to register or to re-register as a sole trader. Of course, you can also do all this online, but you would use this form if you prefer paper registration.

When you complete a CWF1 form, you have to provide the following details:

• Name
• Address
• Business address
• National Insurance number
• Business details

What is Self Assessment?

Self Assessment is the process by which you pay the taxes you owe to HMRC on untaxed income. If you work full-time as an employee, you pay your taxes directly from your salary. This method is called Pay As You Earn (PAYE). But when you’re self-employed, you earn money gross i.e. tax is not deducted from it. This means that you have to declare your earnings to HMRC yourself and do a tax return by the 31st January following the end of the relevant tax year. For more information about completing a Self Assessment tax return, see our handy glossary page or contact one of our experts today!