A glossary of terms you'll probably encounter as you start freelancing.
The Information Commissioners Office (ICO) is the UK's data privacy watchdog.
Tax due payable to anyone earning over a certain income in the UK, and the primary tax you'll pay when you're self-employed
Tax law designed to level the amount of tax paid by those in employment and self-employment.
The process of calculating and reporting your income and expenses to HRMC each year, rather than being taxed at source.
A side-hustle is additional paid work done alongside regular employment, often as a way of earning extra income or testing out self-employment.
A sole trader is considered to be ‘self-employed', and is the singular owner of a business, entitled to keep all profits but liable for all losses.