Author: Rachael Anderson

Many freelancers across different industries are balancing invoices and incomes from multiple sources. While this can mean greater financial security and freedom, it can also bring additional administrative headaches when it comes to taxes. According to Lauren Harvey, Accounts Manager at The Accountancy Partnership, an expert in accounting and tax for freelancers, she sees many make life harder for themselves when it comes to tax. “Freelancers in all sectors, whether this be the creative industries or sports, are wearing many hats; one day hosting a workshop, the next day travelling to a client meeting and then the next settling down…

The importance of having good bookkeeping software can’t be overstated, and this is especially true if you’re doing everything yourself. One of the main advantages of being a freelancer is that you answer to no one, but this also means you’re solely responsible for ensuring the smooth running of your business. No pressure! Bookkeeping, the process of recording all the transactions in your business, is one area where it can be particularly difficult to keep track of everything all on your own, which is why good software can prove invaluable, simplifying your financial management and saving you precious time in…

Freelancing is great for so many reasons. It gives you full autonomy to run your business how you see fit, lets you show off your creative flare without anything holding you back, and gives you the power to decide how much, or how little, you want to work. But as a freelancer you still have rules you must comply with – we’re talking about all things tax! For some freelancers, putting their business’s finances through a business bank account is a legal obligation, but for others, it isn’t (although it could be in your business’s best interest regardless). In this…

Many businesses use wholesalers and suppliers, from the retail store where you purchase your favourite autumn jumpers, to the hairdresser blow drying your hair after a quick shampoo.

Considering recent challenges like the global pandemic and the rising cost of living, a lot of people are turning to side hustles to supplement their income. If you’re thinking of starting up your own side gig, you’ll be joining one in five Brits that have done the same since March 2020. But where exactly do you start? We’ll give you some tips and tricks on how you can start a freelance side hustle. What is a side hustle? A side hustle is basically a hobby or side job you do part-time in addition to any other employment you may…

Artificial intelligence (AI) has become a popular topic of conversation amongst freelancers all over the world, and while some of those conversations are positive, others aren’t so optimistic. As a freelancer, you may worry that AI could take work from you, which is a very valid concern. After all, there’s very little it can’t do! But what if you used AI to your advantage? By treating AI as a tool rather than a replacement, freelancers could improve their work in a more efficient way. In this blog, we’ll explore how you can make AI work for your freelance business. …

Let’s be honest here (our Freelancer News circle is a safe space), without making any profits, most of us would be rethinking our careers, and that’s ok. If you’ve ever thought about giving up and going back to paid employment, we feel you. It’s something that crosses almost every freelancer’s mind at least once. Not to mention business owners and self-employed individuals are being hit harder than ever with the cost-of-living crisis, and prices becoming more expensive by what feels like the millisecond. We know this doesn’t make you any less passionate about your freelancing work, but the vast majority…

You’ll need to make payments on account if your Self Assessment tax bill comes to more than £1,000 and less than 80% of your tax was collected at source through PAYE. Payments on account are advance payments towards your next year’s tax bill, split into two instalments due in January and July. They can catch freelancers off guard the first time they encounter them, so this article explains exactly how they work and what to expect. So, what are payments on account? Payments on account are essentially there to spread the cost of paying tax through Self Assessment. They work…

When starting out as a freelancer, it can be difficult to understand how much to charge clients for your services. Having the freedom and flexibility to determine your rates comes with its own rewards and challenges.

No – you do not need to include your UTR (Unique Taxpayer Reference) number on invoices, and in fact you shouldn’t. Your UTR is confidential personal tax information and sharing it on an invoice could put you at risk of fraud. It’s a common point of confusion, particularly for freelancers who don’t have a Company Registration Number and wonder if their UTR serves as an alternative – but the two are not interchangeable. This article explains what to include on your invoices instead, and who you should and shouldn’t share your UTR with. What is a Unique Taxpayer Reference?…