For the best part of two years, many people have been working from home. However, many people have also been making the jump to being self-employed. If you are working from home as a self-employed person, there are a few things that you need to think about as the world comes out from the pandemic.
Tax rules are changing
The rules around tax and how they might affect you is the subject of many books, blogs, and requires several qualifications. However, we can tell you that you might need to look into the new rules around self-employment. Using a ir35 calculator can help you get your head around some of the changes and work out any tax bills. However, always double-check with the tax office or your accountant. Some of the new rules have just come into play recently but there is a chance that more rules will change as Brexit continues to make its mark.
Registering your company
Getting your company name registered is a big deal, however, you need to ask yourself about the work address. If you are working from home, the logical answer is to register your address as your business address. This poses a problem as your address may be listed on a website for companies. Always double-check, and if you are not comfortable about this, you can hire a mailbox for your company mail to be delivered to.
Time management
This is one that we have all been guilty of, and it is time management. When you have a boss watching over you, you might be inclined to work a little harder and faster. However, when you work for yourself, you might be tempted to relax a bit. This is always a disaster because you can fall behind with work orders and then clients become unhappy. Always make sure that you manage your time and let people know if there will be any delays to their work. Time management is key when you work from home.
Saying no
On the back of our time management point, you will need to learn to say no. When you work from home, especially if you are a mum, you might get asked to head out for cups of coffee and a chat with your mum friends. As nice as this is, it can cut into your working day. We are not talking about a half-hour break, some mums have been known to sit in coffee shops from drop off to pick up. This is not good for you and you will have to tell them no. Or, if you do go, limit yourself to that half an hour.
There are many things that you need to think about when working from home, and these are only a small taste. Working from home can be great but you need to keep yourself in check. This means checking out the tax rules that apply to you, educating yourself, and ensuring that you can manage the workload that you take on.
