Self-Employment, step by step
General principles; the specifics differ by country.
- RegisterMost countries require registration within a set period of starting.
- Separate the moneyA second account for tax. Move a percentage of every payment in immediately.
- Keep recordsEvery invoice and every receipt. Digital copies are usually acceptable.
- Know your allowable expensesCosts wholly for the business reduce taxable profit.
- File and pay on timePenalties are automatic and rarely negotiable.
A common rule of thumb
- Set aside 25–30% of every payment
- More at higher income
- Better to over-reserve than to owe
General education, not tax advice. An accountant usually costs less than the mistakes they prevent.
Questions about the Self-Employment poster
- What’s on the Self-Employment poster?
- 5 numbered steps, with a full worked run-through. General principles; the specifics differ by country. Register — Most countries require registration within a set period of starting.; Separate the money — A second account for tax. Move a percentage of every payment in…; Keep records — Every invoice and every receipt. Digital copies are usually acceptable.; Know your allowable expenses — Costs wholly for the business reduce taxable profit.; File and pay on time — Penalties are automatic and rarely negotiable.. General education, not tax advice. An accountant usually costs less than the mistakes they prevent.
- Who is the Self-Employment poster for?
- Self-Employment belongs to the Money section rather than to a school year, because money is not something one grade owns. Anyone learning tax can pin it up — a beginner, a student mid-course, or someone revising years later.
- When should you use the Self-Employment poster?
- Nobody deducts tax for you. Set money aside from every payment, from the first one. A wall chart earns its place by being glanceable from where the work is happening, so Self-Employment belongs on the wall where that money work actually happens, within glancing distance, rather than filed away.
- What other posters go with Self-Employment?
- Capital Gains, Working Across Borders and How Income Tax Works sit alongside Self-Employment in the Money section. Printed together they make a wall rather than a single sheet, which is how a reference set actually gets used.Capital GainsWorking Across BordersHow Income Tax Works
- Is the Self-Employment poster free to download and print?
- Yes. Self-Employment downloads as a free PDF with no account, no email and no watermark, like everything else in the Money section. Print as many copies as you like for a home, a classroom, a library or a tutoring group; reselling the file is the only thing the licence rules out.Read the licence
- What size does the Self-Employment poster print at?
- Self-Employment is a vector PDF laid out for US Letter, and prints on A4 with Fit to page — the same file, no separate download. Because every mark on it is drawn rather than photographed, it stays sharp enlarged to A3, A2 or A1 at a copy shop. Colour carries emphasis only, so a greyscale print of Self-Employment loses nothing.Printing guide
Related posters
Charts that sit alongside Self-Employment on the same wall.
Browse every Money poster, or start from the full catalogue.