Supporting graduate self-employment
AA2A does all the hard work of keeping up to date with information graduates needs to know about the fast changing rules around self-employment. Would you know the answer to the following questions? ... If not, we can help!
- When do the self-employed have to do 'Quarterly digital returns'?
- Which graduates can get Working tax credit?
- Why is Class 3 National Insurance particularly important for the self-empoyed?
AA2A answers these, and other questions (see below) as part of its presentation promoting Self-employment. Students and staff also have access to 14 pages of supporting information, which is updated annuallyGovernment benefits and schemes
- New Enterprise Allowance
- Universal Credit
- Jobseekers Allowance, Working tax credit and Housing benefit
- Council tax reductions
Legal aspects of self-employment
- choosing between self-employment and limited companies
- when and how to register
- how much you can earn before you must register
- do you need an accountant, or a business bank account
- choosing your year end for record keeping
- using online accounting software
- digital records, receipt banks etc
- allowable expenses
- 'Cash Basis' accounts and 'Simplified Expenses'
- Self-Assessment tax return
- paying tax on your profits and the 'Personal allowance'
- getting payments on account adjusted
Understanding National Insurance
- Classes 1, 2 3 and 4 - who pays what and why
- how NI affects your State pension and benefits
- when do you get credits and when are you exempt?
- how to find your NI record
Premises and Business rates
- how to find your business rate assessment
- avoiding assessment if you work from home
- how to find out if you get 'Small Business Relief'