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  • 1. Guide to Freelancing
    Things to consider before you embark on a freelance career
    Claire Owen
    May 2011
  • 2. Overview....
    • So you want to be a freelancer?
    • 3. Explore why clients uses freelancers and what kind of traits you need to make a real success of it
    • 4. Going about getting the gigs
    • 5. Prepare CV and online portfolio
    • 6. Understand the many routes to market
    • 7. Getting Paid?
    • 8. ‘Temp’ paid via PAYE vs Self Employed vs Limited Co vs Umbrella Co
  • So you want to be a freelancer?
    • This means you’ll be working for different companies at different times and essentially you’ll be selling your skills by the hour/day/week/month/project
    • 9. Upside for clients:
    • 10. More flexible over hours etc. than permanent staff;
    • 11. Easier to hire and fire - and are not a long term commitment;
    • 12. Available at short notice
    • 13. Provide skills the in-house team may not have;
    • 14. Complete one off or small, regular tasks that do not require a full time employee.
  • So you want to be a freelancer?
    • Upsides for you:
    • 15. Being you own boss - which can be extremely enjoyable and satisfying
    • 16. More money - freelancers are usually paid more than employees working alongside them on a project;
    • 17. Freedom - e.g. Freelancers can, to varying degrees, choose when and where to work, when to take holidays etc.
    • 18. Variety - by moving from contract to contract and company to company, freelancers can develop very varied experience and an impressive CV;
    • 19. Less tax - freelancers who take professional advice can also greatly reduce the amount of tax they pay.
  • So you want to be a freelancer?
    • Downsides for you:
    • 20. Less security - freelancers are not protected in the same way as employees;
    • 21. Uncertainty - there are usually no guarantees of another contract when your current contract ends;
    • 22. Hassle - because you will be running your own business, there will be forms to fill in, rules to obey and accounts to keep;
    • 23. You will be on your own - as well as sometimes being lonely, being your own boss means, for example, that nobody will pay you when you take a holiday or are ill.
  • So you want to be a freelancer?
    • A successful freelancer:
    • 24. Knows what they want to achieve from being in business and have thought through the financial implications of going it alone
    • 25. Is decisive and self-motivated.
    • 26. Easily adapts to different conditions, tools, culture and ways of working.
    • 27. Gets on with other people and makes new relationships easily
    • 28. Feels comfortable in a leadership role.
    • 29. Has the ability to know when their advice is wanted and when it is not
    • 30. Is always aware of a potential business at a client's site.
    • 31. Looks own work rather than just lets agencies look.
    • 32. Will have a database of potential clients, with those he or she has worked for before, near the top of the list.
    • 33. Will keep potential clients up to date with contact information when it changes
    • 34. Will have such a good reputation for their work – repeat business is the norm.
  • Going about getting the gigs!
  • Getting Paid
    • PAYE
    • 50. Easy for you, money paid with all tax/NI deducted
    • 51. Not all companies want to take on freelancers this way – can be a hassle for them and concerns over ‘employment’ rights
    • 52. Self Employed
    • 53. Relatively easy to set up
    • 54. Small regular NI Contributions
    • 55. But employer could be contravening HMRC rules – see ESI
    • 56. Administrative responsibilities
    • 57. Limited Co
    • 58. Relatively easy to set up
    • 59. Never an issue for a company to accept your invoices
    • 60. Potential risk under IR35
    • 61. Administrative responsibilities
    • 62. Umbrella Company
    • 63. Protects you from IR35
    • 64. Removes admin burden
    • 65. There is a cost attached
  • Any Questions?
  • 66. Useful Links
    • Revenue & Customs www.hmrc.gov.uk
    • 67. Businesslink - www.businesslink.gov.uk
    • 68. Online accountants - www.crunch.co.uk/
    • 69. Freelancing sites/blogs
    • 70. http://www.freelanceuk.com/become/set_up_freelance_company.shtml
    • 71. http://creativeagencyfreelancing.com/getting-started/setting-yourself-up-as-an-agency-freelancer-uk
    • 72. http://www.freelanceadvisor.co.uk/money/freelance-questions-how-do-i-set-up-a-limited-company/
    • 73. http://www.freelancesupermarket.com/featured-articles/setting-up-a-limited-company-in-3-simple-steps.aspx
    • 74. Recruitment Agencies
    • 75. www.becomeuk.com
    • 76. www.the-creamery.co.uk