Need advice for self employment

[sammyscissors]

Hi everyone my situation at work has gone from being fully employed to being self employed for various reasons but what i wanted help with is i dont have a clue what to do . My step sister is an accountant so she is gonna sort that department out but can any1 else tell me what i need to do please ??
Thanks a bunch

 

[hazelb]

As you will see from many posts on here, first check you really are self employed - and the business owner isn't just calling you that for their own convenience! If its a new job, and you work for your self - then that's straight forward

Can you explain about about how you will be working ( mobile, salon based, renting a room ?)

 

[AcidPerm]

Did you choose to go self employed? Your employer can't force you into it if you want to stay employed.

 

[sammyscissors]

Thanks for the replies , no they didnt force me it was brought up for reasons which i wont discuss so openly on here but basically im salon based been in the same salon for nearly 3 years . Im not renting a chair its gonna be 50- 50 split they pay the money into my bank account still and i just have to sort all my tax and n.i out myself just after some hints and tips really [emoji106]

 

[attitude]

Self employed take their own money then pay rent or commission to the person they rent the space from.

 

[AcidPerm]

Im not renting a chair its gonna be 50- 50 split they pay the money into my bank account still and i just have to sort all my tax and n.i out myself just after some hints and tips really [emoji106]

If you're self employed then technically you are an independent business owner renting a chair.
You need to start thinking and working as a business owner and not an employee.
Your ex boss is now just your landlord and can no longer dictate how you choose to work. If you want to use a different colour house or product range, that's your choice.

You need to start keeping your own client records and set your prices.
Work out a marketing strategy.
Consider how to increase your income with product sales
You will need to think about your minimum hourly rate and profit margins
Factor in savings for when you aren't earning - when you're off sick or on holiday

 

[hazelb]

As AcidPerm says, you have to think differently being self employed.

You clients are your clients, so you keep their contact details, clients records etc

It's also up to you do do your own marketing and get business in. It may be good to educate your clients that you are self employed, not just one of the stylists. You don't want to spend time promoting your business, just to find a client responding to your marketing has come in and booked with another stylist.

Your landlord might promote your service, but they don't have to.

If you start being told what hours to work, when you can take holidays or get paid an hourly rate - alarm bells should start ringing!!!
Unfortunately there are a few posts on here about employed stylists being called 'self emplyed' by their bosses to avoid paying tax, ni , sick pay and work place pensions.