Self-employed people must pay National Insurance contributions. But the good news is that the rate you’ll pay is lower than the rate employees pay. This is your essential guide to National Insurance for the self-employed. We’ll explore how much you have to pay, how to pay it, and what happens if you don’t pay. How…
If you’re new to the world of freelancing, then you may also be new to the world of tax returns. When you work for a company, tax is relatively straightforward – it’s just a figure that shows up on your payslip, a sum that HMRC takes off your wages each month. This arrangement is known…
Can’t pay your tax bill? Don’t worry. There are some steps you can take, whatever the issue you’re facing. If you can’t pay your tax bill for financial reasons, this post will explore the help and support that’s available. But first, we’ll look at some other issues that may cause you to miss your tax…
When you submit your tax return at the end of the financial year, you have to tell HMRC about all the income you’ve received from all sources – including self-employment, property, capital gains, and so on. This is so HMRC knows how much to tax you. “Undeclared income” is any source of money that, for…
UTR stands for Unique Taxpayer Reference. The government uses your UTR number as a means of keeping track of you for tax purposes. They can’t use your name for this, as lots of people might share the same name. Nor can they use your date of birth, for the same reason. And they can’t use…
If you’re a self-employed freelancer or contractor, or if you’re running a small business, then establishing good relationships with your clients is key to your long-term success. And few things are more effective at kindling good relationships than a sincere note of gratitude. There are some obvious benefits to thanking clients and customers for their…
Life as a freelancer can be immensely rewarding and very well-paid. But it can also be challenging, particularly if you’re just starting up. We have many guides that’ll help you make those important first steps as a freelancer: One area where most new freelancers struggle is in finding paying clients. Where can you find clients…
It’s common for people to work multiple jobs. You could have a full-time job and a second job, perhaps working evenings or weekends. Or you could work multiple part-time jobs. Many also do some self-employed work alongside a second job. All of these working arrangements can cause some confusion about the amount of tax you…
If you’re self-employed, you work for yourself. If you’re an employee, you work for someone else. Simple? – well not that simple! HMRC has different tax rules for self-employed people and for employees. But the line between a self-employed person and an employee can often be very thin. The off-payroll working rules make sure that…
It’s every freelancer’s and contractor’s worst nightmare: You do the work, but the customer refuses to pay. It’s frustrating, but the good news is that the law is on your side. So let’s take a look at the steps you can take if a customer refuses to pay for work done. We’ll also look at…