Just as you have to pay council tax on your home, so your business must cough up business rates for its premises. They can be a pain and an easily overlooked cost when you are starting your business. In some circumstances, you may even have to pay business rates if you run a business from home.
This guide will help you understand what business rates you might have to pay, how to challenge the rates set, and even if you can claim any relief.
Alongside freedom, the potential financial benefit associated with contracting or freelancing is a prime motivator for many people thinking of working for clients as an independent worker.
One of the first things people ask is: “what hourly / daily rate should I charge as a contractor?”
This is the 2011/12 NICs table. The employers’ NI rate has increased by 1% to 13.8%, and the main Class 1 rate for employees has risen from 11% to 12%.
Class 2 and Class 4 contributions, paid by the self employed, have also increased.