Busy day and squeezed in a nice long walk in the sunshine. A few people have been in touch seeking advice about self employment and running your own business since my post this morning. So here is my advice for you, its fairly general but everyones circumstances are different so apply where necessary! Number 1. Please, please, please register with HMRC as self employed and do your tax return. Even if you dont make a profit you still have to prove to them that you havent and unless you have thousands of pounds spare to pay the fines its well worth the bit of stress it causes you to do the tax return and its probably not quite as scary as you might think. HMRC are also very lovely if you have any doubts/questions/worries about doing something right/wrong just give them a ring. Also pay your national insurance contributions on time again avoiding fines etc. It all keeps the taxman happy! Number 2. Try and keep your accounts up to date as regularly as you can. Much easier to do it on a monthly rather than 12 monthly basis especially with the tax return etc. it might seem like torture at the time doing a whole hour of maths (I hate it with a passion) but being organised about it will help in the long run. Alternatively get an accountant if you can afford to for either your general accounts or just for your tax return it would be money well spent if you want complete peace of mind. Number 3. Do whats best for you! I dont have children, am in good health and when I became full time self employed I was living at home with my parents so I didnt really have any major responsibilities when it came to bills etc but I would encourage you to work as and when is best for you. You need to work a system and day that is suitable for you, I generally work 10-6 in the day then from 7/7.30-9/10 in the evening with a lunch break too as this fits in around my boyfriends work hours and our lifestyle. So do a day that works around any of the other commitments you have in life and suits you the joy of self employment is that you are the boss so you can be flexible about your working day. Number 4. Be strict with yourself. Remember if you are too flexible about your working hours you wont get anything done and trust me it is very easy to let yourself wander off and get distracted at home alone. You have to have a boss and employee mindset in some ways you have to crack the whip for yourself. Number 5. Seek out help if you need it, there are lots of business courses, advice centres, local business schemes that you can find which offer lots of help, mentoring and support if you want it. Number 6. Time off! Have some time off I seriously forget to do this sometimes but work in as much time off as you can. Have a proper lunch break and try to eat something more than a cereal bar or slice of toast. You have a whole kitchen at your disposal when working from home so use it! Get an early night once in a while and have a lie in, go sit outside in the sun with a cuppa, have a meal out in the evening, take a day off for you. I hope this helps you all in some way or another and Ive covered the important points Ive winged it a lot over the past couple of years, learnt some things the hard way but just work hard, promote yourself and what you do, try not to be pushy or annoying, look after your customers and keep everything legal and you will be ok :)
Posted on: Sun, 13 Jul 2014 17:03:24 +0000
Trending Topics
Recently Viewed Topics
© 2015