COVID-19 pandemic: Support for contractors

Covid-Pandemic Image

It has been an unprecedented few weeks for everyone, not least for the self-employed community as the coronavirus (COVID-19) has spread across the globe, leading to lockdown in country after country, the UK most recently. As well as the obvious worries about our health and that of our loved ones, it has also led to worries about how incomes will be maintained when the world has effectively ground to a halt for an indefinite period.

The Government has announced a variety of measures designed to help both self-employed and employed people protect their incomes, so what measures are available?

Read more

Working from home during the COVID-19 crisis

working from home

We’ve written a fair few articles on working from home over the years. After all, it’s often one of the major changes faced by employees becoming contractors. But this one’s somewhat different as now everyone who is able to is working from home and the challenges faced by contractors and freelancers working from home are a bit different too.

Contractors are now finding themselves working from home while their partners also work from home and, with schools closed, with their children at home too. So, while we usually offer tips on dealing with the isolation that working from home can bring, this one is about dealing with the pressures of working around people who aren’t normally at home with you, while you try to get to grips with the UK’s current way of life.

Read more

A contractor’s New Year’s resolutions for 2020

NY resolution

It’s that time of year when the words “next year I’m going to drink less/join the gym/lose weight” start popping out of our mouths. Quite often, we really do mean it as well. We’ll then all hurtle into 2020 with the best of intention before promptly giving up on 12th January. But what about making some New Year’s resolutions that you can keep?

Read more

A self-employed Christmas

 

self-employed Christmas2

Before you became self-employed, Christmas at work was probably either the most fun you had all year, or a horror you’d prefer to forget. Office Christmases can be wildly hit or miss and, if we’re being honest, can be often more of a miss (except here at Kingsbridge HQ, obviously).

Read more

What does the General Election mean for the IR35 Reforms?

What does the general election mean for ir35

Just when we all thought things couldn’t get any more complicated with regards British politics, a 12th December General Election has been thrown into the mix. As the news is filled with stories of campaigns, Brexit, and whether or not nativity plays will need to be cancelled, most contractors are wondering what this (and the delayed Budget earlier this month) will mean for April 2020’s IR35 reforms.

Read more

The pros and cons of flexible workspaces

Flexible Workspaces

Not that long back, not working from the office meant, instead, working from home or, maybe, a library. Then came the coffee shops with their free WiFi and the idea of more flexible workspaces began to gather pace, cumulating in the more formal co-working spaces now available in most cities across the UK. These offer WiFi, food services, printing facilities, meeting rooms, virtual office services and the company of other freelancers, and latest research has shown that these workspaces are growing in popularity with no sign of tailing off.

Contractor Umbrella reports that forecasts suggest there will soon be more than 20,000 co-working spaces globally and this number will reach 25,968 by 2022. That’s 56% growth in 2018 alone and an average of 2,500 new spaces popping up per year since 2015. Last year, a new flexible workspace opened in London every five days.

But what are the pros and cons of using these spaces?

Read more

Why the freelance creative sector is thriving

Creative Freelancers

It’s official. The UK’s creative sector is thriving after £1.1 billion in support from the Government in the form of tax reliefs.

Award-winning, water-cooler-moment TV series Killing Eve is just one such to benefit from them, and since they were introduced 2,955 films, 485 TV productions and 1,075 videogames have also benefitted. Meanwhile museums and galleries have benefitted from an exhibitions tax relief that has allowed them to host 300 exhibitions across the country.

Read more

More and more young people are looking to self-employment

Young Self Employed

Contracting is often thought of the arena of people further on in their careers, when they’ve built networks and gained enough experience to be considered experts in their field. However, that looks set to change with recent research by AAT and Survation revealing that 43% of 16-24 year olds have the ambition to set up their own business during their working life.

Read more

Fall into better habits

Fall Into Better Habits

It was the Autumnal Equinox on 23 September and with children returning to school and a general feeling of new starts everywhere, what better time to reassess your habits and fall (ahem!) into better ones? By habits we do, of course, mean your freelancer habits which, let’s face it, can easily become neglected. And once they’re neglected, they can actually become a hindrance to your freelance business.

So, which habits likely need a look at and what should best practice look like? The Kingsbridge team has put together some of the ones we hear about most often.

Read more

Employing your partner: What you need to know

Employing a Partner

It’s fairly commonplace these days for contractors to employ their spouse or partner to assist them – often in an administrative role. It makes sense on a number of levels:

  • The admin work (bookkeeping, filing, schedule planning, invoice chasing, etc.) that you would otherwise have to do in your spare time can be done by someone else during work hours, freeing up time for your whole family.
  • It means these tasks can be done from your home, rather than you having to provide an office space for someone else to work.
  • It can provide significant tax benefits as it transfers some of your income to your partner. If he or she pays tax at a lower rate than you do, or if they have unused personal tax allowance, this is likely to create a tax saving for you and your household.

Read more