In this guide, we look at the taxes you will encounter if you start your own business as a sole trader, and other things you should bear in mind before taking the plunge and becoming self employed. (more…)
If you decide to work for yourself and begin trading as a sole trader, (self-employed) you will need to set up your accounts to record your income and expenses.
In order to do this you will need to be aware of tax, national insurance and other factors that will affect the records you need to keep as a sole trader.
To help you understand your duties and to get your book-keeping done painlessly, here’s the low-down on setting up your sole trader accounts. (more…)
If two or more people wish to go into business together, and don’t want to set up a limited company, a partnership offers a simple way to get started. It is similar in many ways to going the sole trader route for an individual.
One of the main benefits of becoming self employed is the ease with which you can start up and run your new business.
You can even become a sole trader (another term for self-employed) whilst working as an employee for someone else, so you can test the water and see whether working for yourself suits you.
To help you understand some of the most important issues, you’ll need to tackle, here are 5 things you need to do when you decide to go self employed: (more…)
In recent years there has been a large increase in the number of individuals working for themselves in a trade, profession or vocation.
Becoming self employed is a new and exciting chapter of life, but it is crucial to get all the basics right to ensure that your new business is as successful as possible. With so much to think about, we asked David Genders, author of The Daily Telegraph Tax Guide to explain the key financial and tax points you need to consider when going self-employed. (more…)
Becoming a sole trader is the simplest way to get your new business off the ground. You can start trading immediately, subject to any industry-specific licences or insurances you might be required to have.
As a sole trader, you will have complete control over your business and finances. You can adapt quickly to any changes in your business, without having to concern yourself with a great deal of bureaucracy. (more…)
UK graduates interested in freelancing or self-employment feel their university should have done more to support them, according to a new study by business insurance broker PolicyBee.
The study, which surveyed just over 1,000 recent graduates, found that 62% of graduates said freelancing or self-employment was not discussed at all by their university’s career department. (more…)