Most freelancers choose self-employment because they love the freedom and flexibility it offers. But they come at a price if you fall prey to the classic freelancing traps. Here are five freelance mistakes to avoid.
The idea that we leave full time education and then spend 45-50 years in uninterrupted gainful employment is dead. Cultural, economic and sociological changes over the last five decades have altered for ever what is achievable – or even desirable – throughout our working lives.
Most people working in the Construction Industry Scheme (CIS) are due a tax rebate, and on average this rebate is over £1,500. The problem is that there are many services both locally and online that offer to help with your tax return, so which one should you choose? Here’s a quick guide on what you need to consider.
Travel costs from your home to a place of work are one of the major expense claims of self-employed individuals, contractors and freelancers. However, whether this is counted as a taxable expense could soon come under the spotlight in what could be a serious shake up of contractor expense claims.
The House of Lords Select Committee, who have been consulting on Personal Service companies and the effectiveness of IR35 in policing UK contractors and freelancers, have today published their report. In the surprising findings, 11 of the 16 recommendations which come out of the report are aimed directly at HMRC.
Temporary job opportunities are likely to increase over the next 12 months, putting contractors and freelancers in higher demand, according to the Recruitment and Employment Confederation (REC) JobsOutlook for March 2014.
The Finance Bill 2014 has now been published by the government, meaning that the tax changes which were announced last year are now in force. Contractors and freelancers should make themselves aware of the new legislation in order to ensure that their finances and taxes are compliant with the system.
IT freelancers are in demand within the financial services sector having seen their pay rise by 13 per cent, according to a recent salary report from Robert Walters. The report states that the double-digit pay rises are the result of improved market conditions in the industry, which have allowed banks to move focus away from regulatory spending.
New research from the Professional Representation Network has claimed that the top UK contractor earnings are three times more than the country’s average wage. The study found that the top 100,000 contractors in the UK earned an average of approximately £80,000 per year, significantly higher than the national average of £27,000.
As a contractor you will be largely responsible for securing your own contracts. Due to the temporary nature of freelancing you will be required to find new clients on a regular basis. This process, of course, will become easier and more familiar as your experience as a contractor grows. However, there are certain things that you can do boost your chances in order to secure a new contract role.