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The Business of Freelancing
Freelancing Advice
Freelancing – Plan – then jump in full time
Starting off freelancing is not something you take on lightly or without planning. Firstly, you’ll need to have real confidence in your marketable skills and be aware of how your skills rate with the best in the market. Work out what you will need as a minimum to set up on your own – and [...]
5 problem areas for Freelancers
If freelancing was really so easy how come we’re all not just working for ourselves? Well, of course, no one ever said working for yourself would be easy. There are advantages over being employed by someone else, but there are also many problems that will need motivation and energy to overcome. Her are 5 major [...]
The Freelance Lifestyle
Freelancing- starting off part-time
Some people might be attracted to the idea of freelancing and are sure that they have marketable skills but it seems so scary just to give up your job and set up on your own. After all, when you are an employee it is someone else’s responsibility to get the work, attract the clients and [...]
Freelancing lifestyle issues
Freelancers do not; on the whole have the rigidly controlled day that employees at work have. This can be a benefit or a problem. Many people become freelancers because they are self motivated and hardworking and want the flexibility to organise their own work life perhaps around their family life or range of freelancing projects. [...]
Freelance Work
Umbrella Company Benefits
People on fixed term contracts or tasks, often through an employment agency may find benefits with having umbrella services. Umbrella Companies act as employers to people working on fixed term contract projects or activities. The term “Umbrella Company” comes from the fact that the company employs many different kinds of independent contractors brought together as a legal entity under the “umbrella” of one company. This legal entity then provides employment services for contractors by making sure that all legal tax and accounting requirements are met.
Benefits of umbrella companies
• A relatively easy way of managing contract work – the umbrella company works quickly to set up the services
• Umbrella companies benefit contractors on short term contracts or low hourly rates
• The umbrella company does the invoicing and administration, follows up payment and manages the contractor’s payroll. That is PAYE and National Insurance are calculated and deducted off the gross before payment is made, so reducing worries about tax payments
• Umbrella companies benefit those that are only temporarily undertaking contract work, or for those who are just starting and seeing how work as a contractor suits them.
• The one thing left for the contractor to do with his or her admin is to see that the umbrella company gets time sheets and expense receipts forwarded to them.
• It is worth freelancers and contractors looking into the benefits for them of umbrella services.