SELF EMPLOYMENT WORKSHOP

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