Any individual who has been
considering quitting the '9 to 5' to set up their own freelance office will
probably need little encouragement to do so by our own accountants
in Canary Wharf here at Freelancer Accounting (http://www.freelanceraccounting.com).
It does, after all, seem to reflect an increasing movement by many people and
organisations towards more flexible ways of working. However, you will still
need to be organised and disciplined to make the transition work.
The benefits of becoming a
freelancer, with an experienced and capable PCG
accountant by your side, are many - but it doesn't suit everyone. Those who
want to be able to work more flexibly, choosing their own hours, are certainly
likely to welcome becoming freelance, as are those who are sick of long train
or motorway commutes. It's also very cost-effective, both in terms of the
initial launch of your company and its subsequent operation. You can also enjoy
your home surroundings and amenities and better accommodate the needs of the
family, in addition to demonstrating to the tax authorities that you are 'in
business on your own account'.
There are many aspects of
freelance working, however, that people do not look forward to so much - such
as the potentially increased isolation and boredom and clashes between family
and business demands. You may also struggle to switch between a home and work
mind-set, and family and neighbours may continually interrupt you while
working. There are, though, ways of overcoming these issues that many of the
clients of our accountancy
services adopt. These include having a separate phone line installed for
work purposes, as well as scheduling breaks and taking the time to meet and
socialise with people - the latter especially important if you live alone.
Other ways in which you can
ensure that your transition to home working is as successful as possible,
include simply treating your work time as seriously as you would if you were
working in any other office, and ensuring that anyone you share your home with
understands this. The most experienced people who use our small business accountants also
know the importance of a definable, permanent workspace rather than the kitchen
table, and also ensure that they meet the people that they are working with
occasionally, given how much more memorable personal contact is than
communication via email.
Bear in mind that rules that
have been in effect since 2003 mean that business rates don't normally need to
be paid on a home office, subject to certain conditions. These include only using
the kind of equipment that might be found in any domestic study and not
employing people from the premises, among others. The Valuation Office Agency
assesses the ratings and each case is considered on its merits.
Get in touch with the accountants in London of
Freelancer Accounting (http://www.freelanceraccounting.com)
for more assistance with the management of your freelance business's affairs,
including advice on the tax treatment of business expenses such as home working
and travelling expenses.
Editor’s
Note: Freelancer Accounting (http://www.freelanceraccounting.com) are represented by
the search engine advertising and digital marketing specialists Jumping Spider
Media. Email: info@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959
/ +34 952 783 637.