Russel Smith and accountant ran a workshop teaching us about how to be Self- Employed.
How do you become an expert? Say you are an expert!
Told that you were the best uk accountant for artists.
How confident are you with self employment? Not at all! 1 out of 5
What do you want to know?
Doing things for free,
Delivery/ operations
Sales and marketing
Finance
HR
Amazon
Amazon is a massive successful company with a great delivery and operations sector
Registering
When you become self employed you are being paid any amount from
If you are being paid £1000 pounds a year you should register
Multiple sources of income. You can be self employed and have a job.
To register for self employment
HMRC google that and and fill in the form
You get a unique number and then you have to do a tax return
Companies house website to check if there is a business with your name.
The founder
Numbers on the tax return
profit=income-expenses
Always better to have more profit
What are you getting paid for?
Services
Selling work
Workshops
Grant income
Freelance income
Expenses
Materials
Travel
Studio rent
Studio utilities
Payroll
Software
Computers
Equipment
Phone
Advertising
Website
Insurance (public liability, professional idenmancy)
Maintenance
Accommodation for trips
Entertaining
Car
Working from home
Events
Delivery
Printing
`Tax brackets
£0- £11,500 = 0%
£11,500 - £46,500 = 29%
£42,500+ = 42%
Best to put 20% aside from each person that pays you.
Log your expenses on a spreadsheet
Keep all receipts for 7 years
Getting Paid
When you do some work for someone, send them a sales invoice
So all of the payment details are addressed beforehand
Direct Debits
Go cordless
Pricing
People don’t buy on logic they buy on emotion
People buy from people because they like each other not necessarily because of their
Graphic design and branding
Sell yourself to people that you know who know a lot of other people.
3 tips
1-Don’t read the newspapers or watch news, small businesses are frowned upon so its not good for you news is negative
2-Get rid of your family and friends, most people don’t want you to succeed
3- Who you are is really important
I can start your business - Russell’s book






















