The prospect of working from home as a contractor or freelancer may sound like bliss. There are no co-workers, no commute, no rules…but it’s not all sunshine and roses. Many who switch to self-employment often experience frustration, discontent or a dip in productivity at one point or another.
Rather than abandon the freelance dream, you can read on and discover a few ways to easily solve potential issues.
Creeping isolation
There’s probably no one at home with you during the day, which may at first make you more productive with minimum distractions. But after a while, you could begin to feel isolated. People need to socialise, and often company can give you the push you need to do the work.
Constantly being around others isn’t necessary, but you can take a break from home-working every now and then. This can be by networking, which will also help you to broaden your connections, potentially acquiring leads in the process.
Another idea is to go to a co-working space occasionally. If the costs are too high, perhaps find local freelancers who you can club with to co-work in a café.
Rising stress
As long as you’re at home, you’re always in the office. It can be difficult to switch off when everything you need to do is right there in front of you. But this has the potential to cause stress, which will ultimately affect your productivity as well as your happiness.
You can resolve this by setting clear working hours, and scheduling in breaks throughout the day. With this free time suddenly available, you may struggle to figure out a way in which to spend it. Undertaking a creative hobby is a great idea – it’s been proven to boost concentration and increase happiness. And, who knows, you may find something you absolutely love.
Increasing bills
As you’ll be at home for a longer amount of time, your bills are going to increase – internet and electricity in particular. This can cause frustration, especially if you didn’t take this into account when making the switch to self-employment.
Budgeting will help with the change, as will claiming expenses. There are a number of utility bills which can be claimed, such as gas, telephone, internet, electricity, water, and repairs. All of these, except telephone and internet, can be claimed via a flat rate, on the premise that you work from home for at least 25 hours per month. Also, depending on whether you’re a homeowner or renting, you can claim on mortgage interest or rent.
Trying to work out which expenses you can claim, as well the flat rates, can seem daunting to those who aren’t accountancy experts. This is where Bright Ideas can assist those working from home. We’ll take the calculations off your hands and explain all the tax and accountancy jargon to you in simple terms.
To book in a FREE consultation, contact us today on 0161 669 4221 or info@biaccountancy.com.
