In this series of blog posts at Chinwag Jobs, we present Secret Diary of a Freelancer, brought to you as part of Xchangeteam’s Freelancer of the Year 2008 awards.

Welcome to my secret diary. It’s secret because I want to be candid and give you the inside track on what my life is like as a freelance gun for hire. It’s warts an’ all but hopefully inspiring in the main, highlighting the highs and the lows of my profession. We freelancers are the future: hear it here first.

The tax man cometh

Our digital marketing freelancer is getting into spirit of Xmas and thinking Tax Self-Assessment

For the likes of the self-employed, Christmas means expense. Holidays are never paid obviously, and then there’s the large present-buying bill. Apparently, Christmas this year is going to be more of a conservative affair. People are not going to be spending large sums on gifts; gone are the excesses of yesteryear; nonetheless, it’s significant expense and it falls on top of a holiday period which is also naturally non-income generating.

With these Scrooge like thoughts in mind, let’s consider the other significant happening at this time of year for the freelance professional.  Not only will you have significant outgoing at this time of the year, but you will need to account for them.

It’s that self-assessment time again. You need to submit your accounts online before the January 31st deadline.

Get yourself an accountant if you don’t already have one – that’s my advice!

I had for years submitted my own accounts, thinking that it was a good policy for me to be familiar with the ways of Inland Revenue and not to pass off any of the accounting headache; but that assumes that I was effective at attributing expenses in the most tax efficient way. It seems I wasn’t, and I’ve saved myself money and a big admin headache by employing someone who is.

Just as you tell your clients to bring in the specialists (namely the likes of you and me) when required, so you need to bring in an accountant to go through that mountain of receipts.

It should mean a little extra money in your coffers (the accountant should pay for itself) which will please your inner scrooge no end.

Finally, A Word From The Sponsor, Christmas also means the close of entry for the Freelancer of the Year Awards. So along with the Xmas pressie list, sorting out your self-assessment, remember to get going on your entry. If I can receive a nomination, so can you. Prompt your client, or enter it yourself.