Setting up as a freelance Journalist

[aidanf]

I've been working full-time as a journalist and I am about to go freelance. Obviously, I want to do things the right way from a tax point of view. What are the first steps in setting myself up? I've looked on the revenue site and it's a bit all over the place. If anyone could help me that would be great.

Thanks.

 

[millertime]

Any good accountant can get you tax registered , you need a form TR1 to register for VAT (depending on your turnover)and income tax. Go to Revenue.ie, Forms, TR1

 

[aidanf]

Thanks for Millertime, really appreciate it

 

[Icarus]

You should defintely have a chat with an accountant first. You probably could handle your own books as you go along and only need to check back for annual returns but there's no harm in getting yourself ship shape from day one in regards to handling your vat (if applicable), what is tax deductible during the course of your work like travel/food/home bills/money earned from syndicating abroad, the possibilty of a home office may having an impact on capital gains tax if you sell your home etc.
It can take alot of hassle and energy undoing earlier mistakes. I'd advice asking other freelancer journalists or your union to recommend one, that way you'll get someone who knows the territory.

A small aside: I recently read something about how many freelance journalists in the UK have for years been told by employers that by cashing their cheque they automatically agree to whatever terms the publisher may have in relation to rights over their article. It turns out that although this beleif was widespread that it had absolutely no basis in law. Interesting I thought!

 

[aidanf]

Thanks Icarus, I've been reccomended a couple of accountants, so I'll chat to them before anything else.

That is interesting about the freelance journalists in the UK, I always assumed that once you are paid for a particular piece, they own it and can change it to suit them, although there is nothing stopping you getting paid for a similar piece in a different publication. I suppose it just comes down to journalistic integrity. Or lack of.