Moving is one of the hardest things you ever do, and it can get overwhelming quickly. When you’re freelancing, getting or keeping your job in the U.K is unfortunately never a smooth process. There are many things to keep in mind, and some are almost impossible to get on top of yourself.
Read on to get an idea of what is to come when you move to the U.K. from the U.S.
1. Stay on Top of Your Taxes!
If there’s one thing as freelancers that we can all agree on, it’s that tax is a frustrating part of the job. While you may think by residing in the U.K, you are exempt from paying American tax—you may be wrong!
Check out where your clients are based, what currency you receive payments in, and what accounts you use. If you’re not careful, you may end up paying heavy back taxes or get into a sticky situation you weren’t ready to handle.
Not sure what to make of your taxes? Use an online tax accountant service like MI Tax CPA to stay ahead of payments for the tax deadline.
2. Ensure You Know the Local Laws
If you’ve moved recently to the U.K, you will likely have spent much of your time trying to organize general work permits and visas. So, now you can begin freelancing just like before you moved, right? Wrong!
In every country you reside in, you must go through a separate registration process to ensure you are licensed as a sole trader. With over two million people currently working as freelancers in the U.K, there is a definite need to categorize and process each case for what kind of work they are doing, which will make a difference to certain things such as your taxes.
To get a handle on what classification you fit in, it’s worth checking up with the U.K Government’s definitions. It can get confusing quickly, but with a bit of research, you are already on track to making your application and getting registered.
3. Prepare for Anything
Freelancing is always tricky, no matter where you live. With the freedom of your career path comes constant surprises, and when moving to a new country, you may have to prepare for unexpected bumps.
Changes to health insurance, banks, and timezones can create problems you never had to deal with in the U.S. Even transferring your savings from U.S dollars to pounds could be tricky.
While you can’t predict the future, when you shift countries, try to make sure you aren’t overloading your schedule at first and have substantial savings to back yourself up, just in case something comes up!
Moving somewhere new is always exciting, and with your freelancing, you can find more time to explore your new home while managing your schedule.
With just a little bit of preparation, you should feel confident that you are on track and not likely to get in trouble for something you didn’t understand!