Pupil barrister
You may now, or shortly, be on your feet, thereby being thrown into the world of self-employment. Don’t be fazed - we are here to help you through the tax and financial jungle and to save you those two precious commodities that, especially in the early stages of your career, will be in very short supply: time and money.
Failing to plan your finances properly can turn out to be extremely embarrassing and costly. It is important that you start off on the right footing.
Listed below are the main issues which, in our experience, you will face at this stage of your career. Click on the links to read more.
- Registering for income tax & national insurance
- Registering for VAT
- Opening a bank account
- Setting up your accounting records
- To what date do I prepare accounts?
- Will my pupillage awards be taxed?
- How can I borrow tax efficiently?
- When do I pay my tax?
- How much should I put aside for taxes?
- My first VAT return is due. Can you help?
- Which expenses can I claim against tax?
- Do I need to maintain a mileage log?
- Do I get full tax relief for my car and computer?
- Can I claim tax relief on my court clothing?
- Am I taxed on my receipts or my earnings?
- I have no history of earnings. How can I get a mortgage?
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