Being a professional in the ‘Photography Industry’ can mean multiple things. You may be a portrait photographer, a studio photographer or a landscape photographer. You may work for a business which provides you with all of your photographic materials - or you may work on location, but to a client’s requirements. On the other hand, you may take your own shots and then sell them independently online. You might be a photojournalist, or maybe your paparazzi. Whichever sector your in, there is always the option to go freelance.
Becoming a freelance photographer is pretty straightforward when given the correct advice.
The key determiner of how you choose set up your business will be whether you want to invest in your own studio to do commissioned work. -Maybe you are just aiming to sell the shots that you take. In which case, all you really need is a website and lots of contacts- which can be gained through good promotion techniques!
The other thing to consider is whether you want to work full-time as a photographer, or whether you want to free-lance as a side job in the early days. Free lancing on-the-side can be a good move to limit the financial risks and get a taste for the industry without jumping in the deep-end.
Follow our blog for access to tomorrow’s post, which features free-lancing part-time.
If you’re deciding between the two options (full-time or part-time) it may be a good idea to talk to an experienced accountant in the industry for advice on tax implications you should be considering- or maybe tax allowances and grants you aren’t taking advantage of.
Here’s a number to call for advice now:
+44 (0)20 3829 3492
There are a number of benefits to freelancing as a photographer, for example:
· Freedom and flexibility to work for as many different types of client as you like, as well as the obvious benefit of increasing your take home pay.
· Ability to command higher hourly rates of pay than permanently employed photographers.
Follow our blog for access to this weeks upcoming article : ‘The benefits to being a freelance photographer’
If you’ve decided give it a go- full or part time,and whether to set up as a sole trader or limited company (advice coming soon in upcoming blog post) , you’re going to need a wide range of tax and accountancy advice and support.
When choosing your accountant there is a number of things to look for:
· Do they have expertise in your industry? Are they specialist? Just your run-of-the-mill accountant wont be as informed of all of the grants and tax incentives you can gain.
· Is there hourly-rate/charge sustainable for your budget?
At least in the early days it is essential to have an accountant. All too many freelance photographers who overlooked having an accountants come to us with their tax mistakes and penalties.
Experienced accountants will offer you a number of services- be sure to check through this before committing to an accountant. For example at Bambridge accountants we offer you advice on:
• Tax allowances
• Take home pay
• How much you should put aside for your tax bill
• Whether you should register for the Flat Rate VAT scheme
• If going limited would be beneficial
• What’s the most tax efficient way to run your business
• Are there any grants or taxes you could benefit from
• Advice on going self-employed, running a small business
• Free consultations
And much more