Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United Kingdom Taxes

Legally, what are the minimum requirements (tax etc) that need to be set up for freelance work?


I have a full time job, but want to do some freelance work as well. I want to go with self assesment on the tax side of things. Do I just have to fill in a tax return form each year to start my freelancing, or are there other things I should be aware of?

There's a lot of things to be aware of. You should really track your income and expenses, and almost everything can be deductible. You should have a contract for all freelance jobs; this will help you keep your paperwork in order. Your first year or so of freelancing, I'd suggest going to a tax prep company to help you with your taxes, as they will help you be sure you're legally CYA. Here's a site with links for everything freelance:

http://freelancewrite.about.com/...


Good luck, and feel free to contact me if I can help you later on. I've been a paid FL writer for more than 10 years, and ::knocking on wood:: haven't messed up my taxes yet.

~Tia~
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