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Business How to Freelance Creating a Long Term Business Forming a Company

Tara McQuaide
PLUS
Tara McQuaide
Courses Plus Student 1,200 Points
Posted by Tara McQuaide
Tara McQuaide
Courses Plus Student 1,200 Points

Why not form a company before you start to freelance?

Pasan starts the video with "after you've been freelancing for awhile..." to consider starting a company mainly for tax purposes and liability. Those key points seem important from the get, so why wait to make that happen?

1 Answer

Jonathan Grieve
MOD
Jonathan Grieve
Treehouse Moderator 91,253 Points
Jonathan Grieve
Jonathan Grieve
Treehouse Moderator 91,253 Points

It depends on the rules of the ruling state, I would imagine. But here in the UK if you intend if making money and trading your web design or other services, even if it's on your own you would need to register for self-assessment, so absolutely if you feel it is the right thing to do, you should feel free to form your company right away :)

Tara McQuaide
Tara McQuaide
Courses Plus Student 1,200 Points
Tara McQuaide
Tara McQuaide
Courses Plus Student 1,200 Points

I understand it would be riskier to pay all the fees associated with the startup right off the bat, but if the goal is to keep finances in order and especially not get screwed come tax season, it only makes sense. Guess it depends on how committed you are to the freelance/own-business game.