Free workshops for members
The date and time: Oct 11, 11.00am-5pm
Newcastle Upon Tyne
Tutor: Stuart Worthington
Managing finances correctly and efficiently is an important issue for any freelance. This workshop will help you get to grips with key financial issues and to ensure that you don’t waste your hard-earned cash through ignorance. It includes:
Budgeting and money management
- Personal and business financial issues
- Short and long-term aims and objectives
- Covering overheads
- Project direct/variable costs
- Survival budgeting
- Break-even analysis
- Practical trading and cash flow forecasting
- Profit and loss calculation
- Pricing and costing
- Agent and agency commissions, credit and debt control.
Legal Entities and Business Vehicles
- Evaluating and explaining business status such as employment, self-employment and owner-management
- Key Contract differentials for performers and stage management
- The pros and cons
- Income streams
- Trading names
- "IR35"/agency tax status issues
- Other liabilities.
Working with HMRC
- Business registration
- Tax explained, including Capital Gains Tax, Income and Corporation taxes plus VAT
- Allowable business expenses
- Personal, investment and capital allowances, tax credits, pension premiums, vehicle benefits and mileage allowances
- National Insurance Contributions: Classes (1,2,3 and 4) and main social security benefits
- Tax returns, bands, rates and dates: how to calculate, minimise and when to make payments.
- Books and record-keeping – what, why and for how long.
- The 80/20 rule
- Staying in control of your business
- Maximising the potential of valuable support.
Who should attend
- Those freelances working in the creative industries who wish to get a better insight into how to manage their finances effectively.
- A clearer understanding of what financial issues you need to cover when working for yourself
- A clearer understanding of how to use management information to achieve your objectives.
Apply online by Oct 2
All workshops have been over-subscribed to date so successful applicants will be chosen randomly after the cut-off date of Oct 2. We will let you know if your application has been successful by Oct 3.
WHO’S AN FEU TRAINING MEMBER?
Equity, the Musicians’ Union, the National Union of Journalists and the Writers’ Guild are working together in this instance under the banner of ‘The Federation of Entertainment Unions’. This enables us to maximize resources to deliver skills development opportunities common to our multi-union members.
Our aim is to help the career progress of our freelance members through the recession and beyond by providing a range of free and low cost blended-learning opportunities.
It’s free to join the FEU Training website and there’s a variety of advice and information available to members. To register: go to www.feutraining.org.
t: 07580 348726