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 annually

Government 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

Finances

  • 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'