If you are already registered as self-employed, when you move to DPS Consulting, your existing self-employment status will not change. 

If you are planning to work as self-employed and use the services of DPS Consulting for the first time, the process is simple:  We will insert a limited company into the contractual relationship between the 'Agency/Client' (who you provide service through) and the 'Individual' sub-contractor (you). To achieve this DPS Consulting fulfils the role of invoicing provider and makes it possible for you to establish yourself as a self-employed individual.  We will look after all contract payment and invoicing services on your behalf.

Working in the UK

If you are working in the UK, you will have a period of up to 3 months in which to register with the UK Inland Revenue office once you commence being self-employed.  Registration is simply done by calling their "Helpline for the Newly Self-Employed" on 08459 15 45 15 asking for a free copy of the Starting up in Business Guide. The guide is comprehensive, containing all the information you need together with the forms required. Alternatively, you can access and view the guide on the Inland Revenue's website: http://www.inlandrevenue.gov.uk/startingup.

As a registered self-employed individual you will start paying Class 2 self-employed flat rate National Insurance contributions. In the April following your registration and each subsequent April, you will be sent a Self Assessment tax return to complete by Inland Revenue.

Being self-employed you will be taxed not on income (as with payroll) but on profit, which will be assessed as income less business-related expenses. You will need to enter any relevant personal information together with full details of your income and any business-related expenses for the period of the tax return.

As a registered self-employed individual, you will have the opportunity to claim business related-expenses. These expenses may include your rent and utility bills for use of part of your home office, council tax, rates, office sundries, stationary, business-related telephone calls and travel to and from your client site(s). The Inland Revenue's website contains full details of what expenditure is and is not allowable as business-related expenses.

Working Elsewhere in the World

Depending on your tax residency or where you are working in the world, you will need to familiarise yourself with the tax rules surrounding self-employment in order to ensure you comply with all relevant requirements. 

You will need to register as self-employed with the relevant worldwide tax authority.  As self-employed, at the end of each tax year it will remain your responsibility to manage your own tax affairs and to ensure that you satisfy your personal tax liability.

Further Information

If you would like further information on Self-Employment Guidelines and Criteria, simply Request a Start Up Pack.