Tuesday, April 15, 2008

Professional matters


When you arrive at the point where you can't face being a criminal any longer, try googling Scottish Enterprise or Business Gateway

They will give you advice on what to do.

You must keep a record of all your purchases - receipts and ideally a separate bank account. (Purchases made prior to you going 'legal' can be used to lower your first year's tax bill.)

Information on Income Tax and National Insurance contributions is here

Tax is calculated on PROFIT not turnover, so get an accountant to look at your books. He or she will save you whatever fee they charge - and more.

Insurances are up to you - equipment, public liability, illness, pension, etc

A good resource for news, jobs, insurers, lawyers (and an annual review of the professional photo vest market) is the printed version of the British Journal of Photography, available in the college library - and also online

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