Many people in the UK are self-employed. This has so many benefits – the freedom of being your own boss is something that appeals to a lot of people and for many it gives them the flexibility to arrange their work life balance so that it works well for them.
However, there are also a lot of more complicated things to deal with when you are self-employed, as you are not working for someone who deals with this sort of thing on your behalf. One of the things that people find the most challenging when they first become self employed is the financial side.
For this reason, it is a good idea when you are self-employed to find an accountant who will be able to help you with this, as it can be a lot of work if you are not sure what you are doing! Find an accountant that specialises in business finances and self-employed people such as these Gloucester Accountants Randall and Payne.
Some of the things that you will probably need assistance with are:
Taxes – An accountant will advise you of which taxes you need to pay, and also when you need to pay them by. They may also be able to advise you on how you can save money on your taxes and help with your tax returns forms.
Pensions – When you work for a company, you will pay into a pension, but if you are self-employed this is something that you will need advice on doing yourself. An accountant will be able to point you in the right direction for advice on the right pensions for you.