Becoming a freelancer, contractor or self-employed person may seem daunting at first, but many people who take this route never regret it. They create a network of clients and benefit from more agreeable working conditions.
It is important for every self-employed person to ensure they are paying the right amount of tax and National Insurance. Neglecting to pay, or getting the figures wrong, could cost you a lot of money.
This section covers the key issues you need to know about to ensure this doesn?t happen.
A phrase you may have heard in any discussion about being self-employed is 'IR35'.
This has caused an outcry in many circles, particularly among IT contractors who no longer benefit from favourable tax breaks as a result of this newly introduced Inland Revenue 'anti-avoidance' legislation.
We take a close look at the issues in this section.
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