Episode 09:Emily Coltman
What You Need To Know About Accounting As A Freelancer
Emily Coltman works with online accounting company, FreeAgent and she generously takes us through a variety of topics including what the differences are between a sole trader and a limited company in the UK, what receipts you need to keep and how to best do that, and the ins and outs of V.A.T. It is a jammed pack episode so make sure you have some paper and a pen ready because the information will be coming at you fast.
She also gave a ton of tips and tricks for the freelancers who are just starting out and have no clue as to how to set up their business for legal and tax purposes, plus gave us some great guides and tools to use to make this time of year a little bit less scary.
Do you use an accountant for your business or do you do it all yourself? Have you ever tried an online accounting company? What did you find to be the pros and cons? Leave us a comment below!
In this episode
- The differences between operating as a sole trader or a limited company including some specifics regarding tax time
- The importance of separating your banking between personal and business
- Top three expenses you can claim
- The ins and outs of V.A.T.
- Some clarification on the legalities of working with overseas clients in terms of your accounting
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