7 Steps to Business Start-up

This guide discusses the main points you should consider in the early stages of starting out as a self-employed art practitioner, designer or creative business. This is an original work devised by Ali …

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VAT

VAT is charged when a VAT-registered business sells to either another business or to a non-business customer; when VAT-registered businesses or self employed individuals buy goods or services they can …

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Studios, pensions and tax

Buying your own studio is the dream of many artists – Kay Linnell and Nick Wilson from Accounts Action Ltd explains how to do so in the most tax-efficient way. The most tax efficient way of buying a s …

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Benefits for self-employed people

There are some benefits you can claim while working, whether employed or self employed, although these will soon change with the roll-out of Universal Credit. JobSeeker’s Allowance is available if you …

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Sarah Preece: tax returns for artists

Sarah Preece, Executive Director at Battersea Arts Centre and founder of Making Space, suggests a step by step approach to filling in your tax return and looks at how getting to grips with the numbers …

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Hiring people

Even if you work self-employed, there may come a point when you need more formal assistance in your business – for example to produce a large commission – but not to such an extent that you can keep a …

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Tax losses

If you have incurred a loss in your self employment business, you are entitled to relief for such losses. If a loss arises from a self employed business (that is, not a hobby but a viable, income-gene …

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Business expenses and working from home

In general, nearly all the expenses incurred wholly for business purposes will be allowable for tax purposes, with the exception of entertaining expenses, fines and penalties. One of the most common t …

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Tax returns and Self Assessment

If you are registered as Self Employed once a year you will need to fill in a tax return – or Self Assessment form, in the HMRC jargon – to let HMRC know how much you have earned, how much your deduct …

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National Insurance

Employees and self-employed people must also pay National Insurance (NI) as well to pay for benefits and pensions. NI, separate from income tax, pays specifically for unemployment benefits for yoursel …

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