Financial journalist Rachael Revesz gives her advice on filling out a tax return as a freelancer, contractor or someone who is self-employed.
Weâve all heard the old adage about the only certainties in life being death and taxes. It sounds a bit miserable. But if you record your income and your expenses as you go, and make your spreadsheet as colourful as possible, it doesnât have to be a major headache.
Taxes, like everything else, are a learning curve â especially when youâre a contractor, self-employed or youâve set up your own business. When it came to filling out my first self-assessment tax return nice and early last year I smugly thought Iâd done a good job with it. But actually, itâs the same thing as when I handed in my first university essay two weeks before the deadline and was told to re-write it: being early isnât the same thing as doing it properly.
Hereâs what I wish Iâd done the first time round: