The Benefits of Freelancing as a Sole Trader
There are many different types of freelancers, but in the main they all have one thing in common. They all provide a service or a skill set which their clients could choose to gain access to by taking on an employee instead - with all of the expenses and responsibilities which that brings.
Often, your clients will not be experts in whatever it is that they decide to use you for. So they either have to employ someone to do it for them, or look for outside assistance from professionals. Hence the opportunity for freelancers is born. In recent years, with the development in remote working technology and in the use of the Internet, it is now far easier to work ‘virtually’ for a number of different clients than it would have been even five years ago.
By freelancing for one or more clients you can generate an income which is often better than a full time employee salary, whilst also enjoying the benefits of being your own boss. But this is not unreasonable, bearing in mind the lack of holiday and sick pay, and the other additional benefits which are lost when moving from permanent employment to freelance work! Our Freelancer Calculator will show you how much you can potentially take home as a sole trader.
As well as having the ability to command much higher hourly rates of pay than permanent employees – especially if you are prepared to put in the extra hours, you also have the option to take on as many clients, and as many projects as you like – with total flexibility in your business structure.
All manner of freelance business types have sprung up over the last few years, from the more traditional domains of freelance copywriting, journalism or photography to the more recent freelance marketing specialists, web developers, project managers, PAs and so on.
Benefits for your Clients
The benefit from your clients’ point of view is that they can gain access to a wide range of services which freelancers provide – and what’s more, they can choose to only pay for these services as and when they need them. Clients often do not have the budget to employ someone full time, even if initially they might think they want to, which provides a perfect opportunity for freelancers to show their worth. Using a freelancer is efficient, flexible and cost effective. Three things which most businesses today are certainly looking for.
If you are considering making the move to freelancing then the following pages may also be helpful:
- Freelancing Part Time - can you freelance whilst still in your permanent role?
- Sole Trader or Limited? - which route is right for you?
- Setting up as a Sole Trader Freelancer - what you need to consider when setting up as a freelancer
- VAT and NI - how do VAT and NI affect you as a freelancer?
- Freelancer Insurances - what insurances do you need as a freelancer?
- Freelancer Take Home Pay Calculator - how much more could you earn by going freelancing?
- Finding Freelance Work - how to find your freelance roles
- Freelancer FAQ’s - all your questions answered
Easy Accountancy
Easy Accountancy is the UK’s only national specialist accountancy firm for freelancers, sole traders and small businesses
If you’ve just started out as a freelancer or run a small business, you’ll definitely need a small accountant and there are plenty of options out there! However, most accountants will charge you every time you get in touch with them; for every phone call, email or meeting.
We don’t want our clients to be scared to contact us and potentially lose out on valuable tax saving advice. It's even more important when you first start out as you really need to set your business up in the best way possible. As a start up you’ll probably have loads of questions and will really appreciate the fact you can call your accountant as many times as you like without the fear of racking up large bills.
Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own accountant throughout the year, so you never need to worry about picking up the phone and then receiving a bill afterwards for the privilege, and covers all your business and personal tax affairs needs. All clients additionally receive:
- Help to run your business in the most tax efficient way possible
- Help so you can understand the taxes you need to pay
- Advice on the best ways to manage your business
- Updates and reminders so you'll never miss a deadline
- Help to ensure you maximise your tax allowances
- Provide proactive tax advice throughout the year
We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 0500 234111 / 01442 275767 or email nikki.hanlon@easyaccountancy.co.uk
We also have a money-back service guarantee - all of your telephone calls and emails will be answered on the same day, or we will refund your monthly fee (another first within the accountancy world).
To appoint us as your accountants, please fill in our Client Agreement Form online.
If you are a contractor working through a limited company then visit SJD Accountancy (our sister company) who specialise in providing tax advice and accountancy services for Limited Company contractors.
For more information or a general chat about your business plans please Ask us a question, call us on 0500 234111 / 01442 275767 or email nikki.hanlon@easyaccountancy.co.uk
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