Why is Professional Indemnity Insurance an Essential Part of the Freelancer’s Armoury?
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Why is Professional Indemnity Insurance an Essential Part of the Freelancer’s Armoury?

ByMichael

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…

producing a first invoice
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Self Employed Invoice Template for UK Businesses

ByMichael

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…

Tax Return: Can I Use Bank Statements Instead of Receipts?
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Tax Return: Can I Use Bank Statements Instead of Receipts?

ByMichael

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…

man working out hourly rates for work
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How to Work Out Your Hourly Rate for Contracting and More

ByMichael

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…

How Long Should You Keep Tax Records?
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How Long Should You Keep Tax Records?

ByMichael

If you run a business, whether you’re a freelancer, a self-employed contractor, or the managing director of a limited company or partnership, you need to keep detailed records for tax purposes. These records might include all sales and incomes, all your business expenses, and if you’re self-employed, records of your personal income. If you employ…

When Do I Need to Register My Business?
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When Do I Need to Register My Business?

ByMichael

You have a legal obligation to register your business. But when do you need to do this, and how do you do it? Whether you’re just starting out, or you’ve been running a business for a short while already, this post will show you how to meet the legal requirements. When To Register as Self-Employed…

Do I Need to Register My Business Yet?
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Do I Need to Register My Business Yet?

ByMichael

Whether you’re running an independent craft business from your spare room, or you’re managing a small business and looking to grow, sooner or later you’ll probably have to register your business. The question is, when? It all depends on what you do, where you work, and whether you employ others. This essential guide will help…

When Does HMRC Investigate Self-Employed and Small Businesses?
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When Does HMRC Investigate Self-Employed and Small Businesses?

ByMichael

A HMRC investigation is a daunting prospect for any business. These investigations can be immensely time-consuming and extremely costly. So for self-employed and small businesses, the idea of a HMRC investigation can be genuinely terrifying. You can avoid HMRC investigations if you learn about the sort of circumstances that commonly trigger investigations. There are also…