Tax Rebates & Refunds

Tax responsibilities for self-employed individuals

June 29, 2012
Posted in Tax Rebates — Written by Jennifer

Working for yourself is a good way of taking control of your professional life. It enables you to break free of any ties that you have to certain organisations and therefore affords you the flexibility to go your own way. Of course, it does mean that you have to take on all the responsibilities of your professional situation on your own – you cannot shift anything on to anyone else, unless you can afford to have a team of staff or an accountant on your side.

If you are working all on your own then you will have to sort out the fundamentals of earning. You are not on the payroll so you will have to set up a business account and take charge of the payment of taxes as well as anything else that you have to get in order.

Self-employed people do enjoy a few tax deductible perks so it is worth gaining a deeper understanding of what essentials you can claim for that will be deducted from your tax bill because they are relevant to your profession. This is just one of the many parts of understanding your responsibilities as a self-employed individual.

No Comments (Leave comment »)

No comments yet.

Comment RSS | TrackBack URL

Leave a comment