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Freelancing Part Time

Many freelancers opt to ‘test the water’ by working in their spare time to start with, whilst also remaining in full time employment. This gives them the option to see if a freelancing business is viable, before giving up the day job. In fact it is often an excellent way to start!

You do not have to tell your employer you are freelancing part time if you do not wish to although it is sometimes advisable in case of any potential conflict or clauses in your contract.

If you choose to freelance part time then the simplest route is often to become a sole trader. All you have to do to register is to let HMRC know by filling in a CWF1 form within 3 months of you setting up. 

After the end of the tax year, which is 5th April, you then have to complete a Personal Tax Return which declares your business profit – which is, in effect, your income or ‘payment’ for the year. This is the figure you will be taxed on and you are responsible for your own Self Assessment Tax and Class 4 National Insurance contributions.

Using an accountant will ensure that you do not put yourself at risk to the various HMRC penalties and end up having to pay interest that is charged for late registration, late submission of tax returns and late payments of tax. Easy Accountancy offers freelancers who choose to operate as a sole trader an all-inclusive, fixed-fee accountancy package of £60 plus VAT per month. This includes unlimited access to your very own accountant via telephone or email throughout the year for help and advice.

For more advice on how Easy Accountancy can help you and business, or to find out more about our fixed fee packages, please call 0500 234 111 / 01442 275767 or email heather@easyaccountancy.co.uk.

If you are considering freelancing on the side of your full time job then the following pages may also be helpful:

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

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 01442 275767 or email heather@easyaccountancy.co.uk.

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.