Help with Self Assessment Process - UK

Hi Folks!

I know there must be countless posts with the same question, but I wanted to run down my current situation and ask some questions.

I'm a full time University student based in Scotland, and have been running my business since around 2021. This was very much a hobby to earn pennies alongside by healthcare job, and receiving student finance/SAAS during Covid. Well below any form of income, say £200 maximum take back in those years.

I have had a variety of jobs alongside my University degree (this is now my second, one after the other), but I was made redundant in May of this current year. Whole department in my new job was let go, and I couldn't for the life of me secure a new position elsewhere. The job market and competition in Glasgow is pretty nuts!

As of May, I made the conscious decision to invest all my energy in my business, regardless of if I found a suitable job or not. Still a student, but my main source of income as of now is both through Student Loans and through my business.

I was alerted by Etsy that I needed to update my Tax information and verify my seller details as everyone did, but that got me thinking about declaring self employment.

Calculated my total income from my business April 2023/2024, and found that I've earned £1074. So, this morning, I registered for Self Assessment with HMRC under 'Self Employed/sole trader'.

Despite technically owning my business since 2021, the registration noted "if you have not earned above £1,000 in the tax year, you do not need to include this." So, I registered the date as May 30th, when I lost my position. I think I'm going to call HMRC in the week to double check that I've done this right...it was pretty confusing!

Now that the Registration is complete, is there anything further I need to do or apply for? They didn't ask for any bank statements or profits, so how would they know what I owe (if any?)

I'm assuming I just have to wait for my UTR number to come through and then find out the next steps?

Apologies if these questions seem silly - I'm an avid worry-er of making a mistake or getting into trouble somehow! Instead of getting overly stressed, I'm choosing to take this process as a sign of progress with my business that I've loved for so long!

Sending love, any advice or tips would be greatly appreciated!