September 29th, 2017.

Standard life guide shows how to ensure you secure your financial future if you’re self-employed – especially with the tax deadline coming up on the 5th of October.

There can be many benefits to freelancing or running your own business – flexible hours, the option to work from home, no fixed holiday allowance and, of course, the chance to follow your passion.

On the other hand, one potential downside is that the responsibility for looking after your finances all falls to you. It’s not just about making sure your business is profitable enough to pay you a salary; you also need to think about your long-term plans. If you’re employed by a company, they’re required to set up a pension for you. If you’re your own boss, the responsibility for pensions – your own and that of any employees – is yours.

According to recent Office for National Statistics data, 15.1 per cent of all workers are self-employed – accounting for 4.8 million. With this in mind, Standard Life provides a guide to help secure your future finances if you’re self-employed.

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