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Monthly Archives: December 2012

Are you a web developer?

If you are involved in web development, designing websites or mobile applications then 2012 should have been a good year for you financially.

Salaries for freelance web developers rose by about 25% over the year, and this is expected to continue into 2013, there is a limited supply of good develpers and companies requiring a web presence is continuing to rise.

Web development is definitely a good field to be in, and one which any new entrant to the workforce should consider, with a good demand for these skill expected to continue and skill shortages expected in web development for the next five years.

FreelancerAccounting assists many freelance web developers with their accounting and taxation needs.

What you need to know about subcontracting

As a freelancer and client of one of our accountants for freelancers here at Freelancer Accounting (http://www.freelanceraccounting.com), chances are that you’ll be used to adopting flexible approaches to assignments, based on such factors as your current workload and personal circumstances. Certainly, there are few freelancers who haven’t at least considered subcontracting – whether doing it for someone else or getting another person to subcontract for them. But what are the advantages and disadvantages of subcontracting?

 

It’s possible that you will have considered finding a subcontractor if an opportunity suddenly arises for work that you don’t have the free time to complete yourself, given other ongoing projects. Of course, you could always turn down the offer of work, but in the case of many clients, a similar opportunity may not arise from them again. But if you try to tackle the work yourself despite your crowded schedule, it’s very likely that the results won’t be up to standard.

 

That’s why, especially if the client is a massive one that you value your relationship with and that is offering money that you just can’t turn down, you might be tempted to bring in a subcontractor. Certainly, this is something that many of the clients of our contractor accountants do very successfully, as it lifts pressure off them and even places them in a position to attract bigger jobs than previously. There is, however, the potential for more stress, as you’ll suddenly be a client yourself and need to manage your subcontractor to ensure that they produce work of a satisfactory standard.

 

This project management side of things is something that our small business accountants always urge clients to bear in mind when they are negotiating fees. You might need to learn to manage staff, having never done it before. As so often, though, thorough preparation makes a big difference. Before you take on a worker, peruse their CV and do a bit of other research on them. Ask for samples of previous work, and pay attention to the seemingly small things that could indicate your likely experience of working with them – such as how long they take to answer an email.

 

Alternatively, of course, you may fancy becoming a subcontractor yourself, which allows you to take on grander projects than you might have previously been able to attract on your own. Doing this can be a good experience if you want to move up another level, but on the minus side, it’s likely that you won’t receive credit for the work. Earnings may also be lower.

 

Nonetheless, as a client of one of Freelancer Accounting’s (http://www.freelanceraccounting.com) accountants in Guildford, you may feel that the downsides are a worthwhile price to pay for the chance to take on more intriguing and prestigious assignments. Contact us now for tailored advice on your accounting and tax affairs as a freelancer.

It’s the end of the year… Self Assessment time!

We’re into December now, which is a time that many non-clients of our accountants London dread. No, we’re not talking about Christmas present shopping and beating the scrum for the Boxing Day sales, but instead the obligatory Self Assessment tax return, for which the online submission deadline is 31st January. Freelancer Accounting (http://www.freelanceraccounting.com) gives you access to well-qualified tax and accounting experts who can assist you with your return.

 

It is, though, very helpful to have some pointers as to the basic Self Assessment process, even before you get in touch with us – and irrespective of whether you are a company director, a sole trader business such as a plasterer or plumber, or even an employee who pays tax at a higher rate. Once you’re familiar with the basic steps, you might then wish to contact our contractor accountants for the most recent tax advice and the peace of mind of knowing that such an important tax return has been completed correctly in readiness for submission. Our Self Assessment tax return services are available at a competitive fixed price.

 

Prior to registration, you will naturally need to determine whether it is necessary for you to submit a Self Assessment tax return at all. But presuming that you’re a freelancer, the short answer to that question is “yes”, as this type of tax return is generally applicable for anyone whose income is not taxed “at source”. For this year’s submission deadline, you should have registered by 5th October, with penalties to pay for those who missed it. In return for registering, you will get a Unique Taxpayer Reference Number (or UTR Number) and will not need to register again each year.

 

On-time and accurate Self Assessment is so important, which is why our accountants for freelancers would always urge you to properly organise your financial records – as tedious as this may seem – in order to avoid headaches further down the line. Timing is also obviously important, with conventional wisdom dictating that you should not leave your Self Assessment tax return until the day of the deadline. By submitting earlier, you’ll know your amount of owed tax earlier, so you’ll be able to plan ahead all the sooner. A failure to submit your return on time means an instant £100 fine, which can easily increase if you continue to delay.

 

The good news is that if you have prepared well, the actual final completion of the Self Assessment tax submission form shouldn’t be that arduous. It should simply be a case of logging into HMRC Online services with your username and password before working your way through the form with your records to hand. But if you are still in doubt about anything, feel free to contact the small business accountants here at Freelancer Accounting (http://www.freelanceraccounting.com) for prompt, professional and informed advice.