This article will be of interest to self-employed artists. It aims to provide guidelines on how to manage and control the day-to-day finances associated with their work. What follows describes what a hypothetical artist, Karen, should do once she has...
Financial planning for the future is something that is not always at the forefront of our minds. The question that is more usual is how to finance life and art at the same time.
Being self-employed means you are carrying on your own business rather than working for an employer. With this there are many advantages and disadvantages.
Self-employment means that you work for yourself or in partnership with others. Being self-employed enables you to choose the type of work you wish to undertake and the amount of time you wish to spend working on it.
You are subject to VAT if you are self employed or work on a freelance basis and have sales in excess of the following thresholds. The threshold for registration is €37,500 for services and €75,000 for goods.
You are required to register for VAT if you are self employed or work on a freelance basis and receive turnover from taxable supplies in excess of the VAT registration threshold.