Why self-employed?
If you’re going to break out on your own, it’s critical to do so with your eyes wide open, because every gain that freelancing might provide has a downside. O&D Accountancy is here to inform you about the benefits of Self-Employed and to assist you at every step of the way.
Although in many cases working as a self-employed will bring you more financial gains, you need to follow the right path for that. Just a UTR number is not enough for some self-employed individuals. CIS registration is a very important step for earning more money as a Self-employed. O&D can support you with the application and the registration for CIS (Construction Industry Scheme).
Every end of the financial year, it’s time for a tax return. This needs to be filled in, even if the financial gain was 0 for the previous year. Anyone, we won’t bother you here with too many things. Please book an appointment or just pop-in in our office, for a chat.
What are the advantages of being self-employed:
Work when it’s convenient for you: start early and take the afternoon off; work late and then have a nice lie-in; work Tuesdays. Freelancing typically provides you with a great deal of flexibility in terms of scheduling your work hours. At the end of the day, what counts is that the work is completed.
Choose your location: many office-related jobs can be performed from anywhere with an Internet connection. Stay at home, visit a café, hire a co-working place, or move to another country if you choose – the choice is entirely yours as long as you are not scheduled to meet with a customer.
Choose your projects: in theory, you are free to decline any task that comes your way (although you cannot afford to be that picky if you are cash-strapped).
Earn more money: in many fields, your hourly rate will be significantly higher than what you would earn in a full-time employment. You remain a good value to a client since they pay you solely for the time you work and are not required to offer you any in-work benefits such as annual leave or sick pay. If you have a full calendar of work scheduled, you could earn a fortune.
A more favorable work-life balance: Along with creative control over your firm, you also get to select how you want to run, which means you may work the hours that work best for you. This enables many people to better manage their job and other responsibilities, resulting in a healthier work-life balance.
Financial benefits: You may be entitled to some cash benefits if you are self-employed. For instance, if you work from home, you can deduct certain business-related expenses such as travel and a percentage of your electricity bills. If you’re just getting started with your self-employed company and earning little money, you may be eligible for some perks. Additionally, incentives are offered to people starting new firms.
Self-Employed REgistration
You decided to start to work as a Self-Employed and you don’t know exactly what to do, or you are too busy to do that?
O&D Accountancy will take care of the entire process, from applying until you have your Unique Taxpayer Reference number.
Bookkeping
Every penny matters! Record keeping is an essential skill needed in all businesses. Most businesses fail to keep proper accounting records and you could end up disqualified as a director or receive a fine up to £3,000.00.
Bookkeeping can be time consuming, at O&D our priority is your business! All of your day-to-day bookkeeping is handled by us so you can focus on your business.
Do not hesitate to book an appointment with now of our specialists!
Self-Assesment and tax return
You can say goodbye to the hard work, spreadsheets, and self-doubt when you hire O&D Accountancy for your self-assessment tax submission. All you have to do is contact us and book your free consultation. Then we’ll take care of the difficult portion.
Following the completion of your tax return, we’ll assist you in making your first and second payments on account of the current tax year. It can be difficult to save enough money to make payments in the thousands of pounds. As a result, we’ll assist you in creating a budget that works for you and making payments on time.
HMRC can fine you if you don’t fill out your tax return correctly, don’t finish your tax return at all, or don’t pay your taxes. We aren’t just here to assist you with your self-assessment tax obligations. We’ll take care of everything. We’ll even contact HMRC on your behalf if necessary.
Remember that our self-assessment tax return service is just one component of our monthly accounting services subscription. Signing up for a greater range of bookkeeping and accounting services has numerous advantages.
We are here to go above and beyond, you will be assigned your own personal accountant who will keep track of your income and expenses, making it easier to file your taxes when the time comes.
HMRC Penalties and appeals
Sometimes we are so focused on what we do, that we forget we need to pay some taxes. After some time, penalties will come.
And then you call O&D Accountancy Services LTD.
Thousands of contractors have benefited from our assistance. Many trades in the construction industry work under tight schedules and want to get on with their work as quickly as possible. The workload grows as soon as subcontractors are introduced; you wind up spending hours requesting information, confirming it, amending any changes, printing, and reprinting statements.
Construction Industry Scheme
Thousands of contractors have benefited from our assistance. Many trades in the construction industry work under tight schedules and want to get on with their work as quickly as possible. The workload grows as soon as subcontractors are introduced; you wind up spending hours requesting information, confirming it, amending any changes, printing, and reprinting statements.
