An unpaid or delayed invoice is something all freelancers and contractors have to deal with at some point. Some clients are just forgetful, or disorganised. But you’ll also encounter clients who, for one reason or another, simply refuse to pay an invoice. So when faced with a non-payment of an invoice, what are your options?…
Being your own boss today is easier that it’s ever been before. More of us are becoming immersed in the world of freelancing, whether that’s in search of freedom, flexibility, work-life balance or simply to tap into additional income. Side gigs, market places or sharing platforms are making this possible. What Business Tools Does a…
If you’ve never had to send an invoice before, you might be wondering what to include, and what to expect. So we put together this essential guide to invoices for UK businesses, to help you get your invoice right first time. What Does a Freelance Invoice Need to Include? There are some things that you…
It’s common for people to confuse psychologists with psychiatrists, and vice versa. Both roles involve studying how certain factors can influence or affect an individual’s mental functioning. But there are key differences between the roles, which means that each role involves a different set of qualifications. In this post we’ll discuss the main differences between…
If you’re a self-employed freelancer or contractor, you have a legal obligation to keep certain records. These laws apply whether you’re a sole trader, or you’re in a partnership. These records are mainly for your own use, so you can effectively work out your profit or loss when submitting your self-assessment tax return. There’s no…
VAT is value-added tax. It’s applied to the sale of most goods and services, though certain goods and services are either exempt, or charged at a reduced rate. And unlike income tax, it’s collected by the seller. At the time of writing, the standard VAT rate in the UK is 20%. Only the most successful…
You can claim certain business expenses as part of your tax return. Only some expenses are allowable. You can read our complete guide to allowable expenses for self-employed workers. This is why it’s a good idea to keep the receipts for any purchase you make for your business. With receipts to hand, you’ll have a…
If you’re self-employed or a sole trader, do you need a business bank account? After all, you’re your own boss now. You do things on your own time, and on your own terms. So surely you can do business with your own bank account? It’s an issue many who are new to the business world…
When working out your hourly rate for contracting, what you’re really trying to work out is this: How much is your time, your energy, and your talent worth? These are difficult questions for anyone to answer. So instead, when working out your hourly rate, think in more grounded terms. Think about how many hours you…
If you’re new to the world of freelancing, you might wonder what to charge for your hourly rate. It’s a tough question. Perhaps for the first time in your life, you need to determine just how much your time is really worth. But working out your hourly rate for freelancing doesn’t have to be so…