Right now, many of us are choosing not only our jobs but our mode of work. The coronavirus and Covid-19 pandemic of 2020 and 2021 has impacted all sorts of areas of our lives. As governments around the world have implemented lockdown periods and social distancing measures, many of us have been unable to work in the way that we did prior to the pandemic. Rather than carrying out in-office roles, many of us have switched to working on a remote basis. Many industries have also been impacted, resulting in company collapse, job loss, redundancy and other issues for workers. If you’re considering changing what you do for a living, it’s not all too surprising. Maybe you want to work in a different field. Maybe you want to work for yourself. If you’re considering this, you may want to consider freelancing. This is a great option for generating income with more freedom and control over your career path. Here’s some more information on the subject to get you started.
What is Freelancing?
First, let’s clear up what freelancing actually is. As a freelancer, you will work for yourself. You will build relationships with different clients and you will complete projects on their behalf. This is great. You get to choose who you work with, what projects you will take on, how much you charge, where you work from and what your working hours are. This provides flexibility as well as higher levels of work satisfaction.
First Steps Towards Becoming a Successful Freelancer
So, what will you need to do to get started as a freelancer? Here are some suggestions to get you started out on the right foot.
Understand How To Create Contracts
You’ll need to use contracts with people you work for to ensure that you both know the terms of engagement. This can include what work is expected of you, deadlines and the rates you are charging. Use a contract template to get started out.
Register as self-employed
The first step you’re going to have to take is registering as self-employed. Most of us are used to being employed and having our employers deal with our taxes for us, deducting them from our pay before it’s sent to our bank accounts. But when you freelance, you’re going to have to pay your tax yourself. Registering as self-employed will provide you with a UTR number and will ensure you can file your self assessment to pay your tax at the end of the fiscal year.
Use an Accountant
Of course, tax can get complicated. Generally, it’s recommended that self-employed individuals use the services of an accountant, who can help ensure you pay the right amount of tax at the right time. They know the ins and outs of expenses, allowable deductions and more, helping to save you money too!
There are, of course, a number of other steps you’ll have to take to get your freelance career off to a flying start. But some of the options outlined above should help get the ball rolling!