When you’re in business, it’s vital to stay on top of your finances and keep your books in order, but this can often be very confusing and stressful especially when you only have yourself to rely on.
Emily Coltman ACA, Chief Accountant to award-winning online accounting system provider FreeAgent and author of Finance for Small Business and Micro Multinationals, gives her 10 top financial issues that freelancers and contractors should be aware of.
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Freelancers starting on their own can suffer from a lack of credibility – clients are naturally wary of new businesses. It’s important to develop this credibility, and therefore trust, as quickly as possible, to ensure a growing client roster and a profitable business. These five tips, outlined by Jamie Lawrence of inspiresme, are easy ways to help put clients’ minds at rest and encourage them to pay for your services.
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So you’ve taken the plunge and you’re self-employed. Make sure you’re tax savvy and that you consider the following seven top tax tips. Remember we all have to pay tax but we don’t need to tip HMRC. Get organised so that you know when you have to pay tax and how much you will need to set aside. Also make sure that you take full advantage of all the tax breaks available to self-employed individuals. New business owners can do without nasty surprises so forewarned is forearmed.
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A growing number of workers are taking the plunge and going freelance, an exciting and scary move to a world very different to that of an employee. Developing progressive habits is important as soon as you make the move to ensure that you doing everything you can to build a viable business. While everyone works differently, some aspects of freelancing are important to success. This article looks at five of the most common habits of successful freelancers and why they’re key.
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