The Freelance Thread (Contractor, IR35)

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  • In what order should I do this or does it matter? I need to register as a sole trader, open a business account, buy that computer.

    That order. You would (personally) loan the company the funds. You also need an accountant.

  • loan what company? My lending myself money?

    I have a couple of accountant friends, I am sure I can just buy them a couple of pints...

  • Sorry, I somehow ignored the sole trader bit.

  • I did think about starting a limited company, but my possible freelance jobs are likely to be fairly straightforward and risk free - I teach a course for a week, I get paid, same again the next week, same again whenever I want, so 2 or 3 incoming transactions a month at most...

  • So my going freelance is not going according to plan as such - I have gotten myself another paid employment 3 days a week and the other 2 days will still be freelance. This means every penny I earn from my freelance will be subject to tax and my regular employment will use up the tax free allowance etc.

    So if I was to buy a laptop for £1350, that is solely for my freelance work (I have another laptop from work), how much of that can I claim back as my capital investment or whatever it’s called?

  • This means every penny I earn from my freelance will be subject to tax

    It...always....is.

  • 😒 you knew exactly what I meant...

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The Freelance Thread (Contractor, IR35)

Posted by Avatar for amey @amey

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