Most important things to do when you are self-employed in the UK

Being self-employed in the UK has a lot of benefits and is recommended if you feel like you have the potential to run your own business. Here is how to become successful, what you need to sort out before starting your company, and some of the most frequent questions.

Sort your taxes

Being self-employed means paying taxes as well as your National Insurance. Everyone can do this but only up to 5 October of your business’ second tax year.

The tax year starts on April 6 and lasts till the 5 of April of the following year.

You will need to calculate on your own how much tax you need to pay, or you can higher an accountant to do this for you. Nowadays there are also some online accountants which may be a bit more affordable.

Self-employed FAQ

 What is NICs?

NICs stands for National Instant Criminal Background Check System which checks a person’s background to see if they are eligable to start their own business.

You should pay £2.95 a week for the 2018/19 tax year. Only those business which make less £6,205 in the 2018/19 tax year will not have to pay for the NI contributions.

If you are self-employed you will also need to pay the 4 NICs. For the 2018/19 tax year, this is 9% on your annual profits which you make anywhere between £8,424 and £46,350.

What is VAT?

VAT stands for value-added tax and is something which you should register if your business makes more than £85,000 annually.

Should you open a business bank account?

Try to keep your business records and finances separate from any personal affairs. Try and open a business bank account where you will pay around £6-£10/month.

Do I need insurance?

You are actually obligated by law to have an insurance policy. The fees will be different depending on the type of business you are, so it is different for everyone.

Have a look at CPBA’s government funded beauty courses here: OUR COURSES

How to become a barber? Courses that jump-start your career in Barbering

If becoming a barber has been your dream call why not pursue your choice? Did you know that you can get your diploma in less than 4 months?! CPBA helps you achieve your goals in the shortest time possible, especially when compared to other school, colleges, and courses.

Who should become a barber?

If you feel like you are creative enough, you love to chat with people, and you are always open to new techniques – this is the job for you. Barbers often have an amazing eye for detail, and they can transform and fix-up many different hairstyles. They work with male clientele mostly, and they love precise and defined looks.

What does becoming a barber entail?

With the CPBA course you will learn to cut, style, as well as layer hair. You will cut-free hand, using clippers, as well as trimmers to give a precise and stylish look. Detailed techniques will also allow you to do many different hairdos, while also framing the face and styling the beard, as well as the moustache.

barber

Barbers also know how to work with straight and curly hair, and will give their client exactly what they want in a timely reasonable matter.

Why take the CPBA course?

With this course, you will have unlimited guidance with a set of professionals. Once done you will get an internationally recognized VTCT Level 2 Diploma certificate. With this certificate, you will be able to work as a hairdresser right away, or you can develop your skills by proceeding with other training.

You can graduate from this course in 16 weeks only!

The total cost of the course is £1,800, but as previously mentioned, you can get it for free.

This applies to both men and women who are between the age 19-23 and are getting their first level 2 qualification. You can also be above the age of 23 but you should either be unemployed or earn less than £15,736.50 per year.

You can find our barbering course here.

Have a look at our other courses as well, just click here.