When you’re working freelance, calculating how much tax you should be paying can be tricky. We’ve partnered with Crunch, who offer specialist accounting services for freelancers, to help guide you through the maze.
Crunch have two webinars running tomorrow, where their experts will be on-hand to answer your queries, depending on whether you’re working as a sole trader, or you have your own limited company.
What taxes do I pay? A webinar for Sole Traders – REGISTER HERE
What taxes do I pay? A webinar for Limited Company directors – REGISTER HERE
Both webinars are free, so don’t miss your chance to have your questions answered by the experts.
Don’t forget, all ProductionBase members receive a 10% discount on Crunch accountancy packages for the first year, as part of your exclusive range of Member Discounts.
Starting out as a freelancer can be a daunting process, not least from a financial perspective. We’ve partnered with Crunch, who offer specialist accounting services for freelancers, to help guide you through the maze. In this article, we’ll take a quick look at pay and tax for freelancers working as sole traders.
How do I pay myself as a sole trader, and how much should I put aside for tax?
You don’t need us to tell you that everyone loves to get paid. When you’re a sole trader, though, what sounds like a simple concept can get a little tricky.
As far as the law is concerned, there’s no legal difference between you and your business when you become a sole trader. You receive the income and you pay the expenses – including the tax liability, which you pay as an individual. That’s why we always recommend you put some money aside to pay your taxes, as HMRC have very strict deadlines.
So, how much should you be putting aside for tax, and how do you go about getting your hard-earned cash from your business into your pocket? Let’s explore.
Blogging has endured a somewhat torrid time within the online community recently with the use of social media seemingly making it redundant. Yet, from a marketing perspective, there are a number of reasons to use a blog to further promote your work. It would be naive to assume that being active on social media platforms signifies the demise of blogging for self-promotion, as an established social media presence could be used to direct potential employers to a more personalised exhibition of your work, interests and skillset.
ProductionBase is extremely pleased to recommend Crunch – a company that has transformed the previously grey and stuffy world of expensive accounting into a quick and cost-effective process.
How it works:
- Unlike a traditional accountancy firm, Crunch is geared to your needs, not the accountant.
- They remove every single task so you’ll be able to focus on what you’re good at – making programmes.
- You’ll get your very own account manager – that is with you every step of the way.
- From the quick setup process or simple transfer from your old accountant, to looking after all that boring paperwork from HMRC and Companies House.
- You’ll have an expert accountant to talk to, precisely when you need them – especially when you know you are not being charged by the minute.
- They are there to answer all your accountancy and tax questions as well as checking everything you do is correct before it’s submitted.
- Designed for the non-accounting mind, its one of the easiest accounting systems available.
- You’ll be sending invoices in minutes, dropping in expenses and seeing the health of your business instantly.
To find out more, visit Crunch – Online Accounting.
Since the recent media hosting upgrade, all members now have an external webpage, as well as their ProductionBase profile.
By default, these external profile pages are set to appear in internet searches, such as Google, Yahoo and Bing etc. This is great for people who want to show their profiles to people who are not members of PB, as you can give the link to anyone, or add it to your email signature for example.
However, if for any reason you would like your external profile NOT to appear in searches conducted via search engines, then please follow these simple steps to remove it from public domain.
At PB we have noticed that quite a few members have opted not to fill out the Credits section of their profile, opting to complete the Employment History instead. Credits and Employment History should be used differently. Make sure you detail all of your broadcast credits in the dedicated credits section, all of your other general experience should be detailed in the Employment History.
Entering your credits in the appropriate section will allow you to be found by employers who use the Credit Search. That’s why credits should be entered here rather than in your employment history. If you have a video clip to accompany the credit why not detail it in the additional info section of your credit, so that employers can see the finished masterpiece!
This week we are pleased to welcome freelance producer/director, Abi Kelly, who highlights the joys of multi-tasking and the lows of being everything to everyone.
When I was fumbling through my teens, dreams and ambitions were usually grounded in being part of something really exciting. If it was buzzy, creative and fun and didn’t involve Pythagoras’ Theorem or Bunsen Burners, then I was happy and motivated.
When I was at school and uni, success leading to immediate happiness stemmed from a whole spectrum of events: mastering lead roles in plays and musicals, writing ‘A’ grade poetry, organising a charity fashion show and winning The Effort Award in assemblies (“well done Abigail for scoring maximum in that whole ‘trying’ thing, but The Success Award once again goes to Beatrice Van Horn Alkema”.)