Number four on my list of why you should self publish was because there's the potential to fulfill your writing ambitions. No doubt one of those ambitions is to eventually give up the day job altogether and pen amazing works full time, thus becoming a business in your own right.
As soon as you sell your first piece, you're a business. In fact it's a good idea to start up ahead of that first sale so you can claim expenses for anything you buy and use towards your writing endeavours when it comes to preparing your tax return later on.
So you're at that point where you can now give writing your full attention and maybe you thought all you had to do was write (rewind two and a half years and that's what I thought too!) but it's actually more complicated than that. You're now self employed. Scary stuff! And there's a lot to think about and a lot of hats to wear - remember my post The 10 jobs of a modern day writer?
The good news is, it's never been a better time to be a writer because the online world of self publishing is brimming with possibility. However, the bad news is, you've got to work your ass off. But you knew that.
Here are some links to give you an insight into my own tax(ing) journey:
For help with setting yourself up as a registered writing business, check out my blog post here.
For guidance on the tax return itself, what you can claim and how it's calculated, check out this post.
Why I'd rather eat a doughnut than file a tax return - check out this post when I eventually had to file my first return and how it went.
A few more thoughts and considerations on becoming a pukker writing business:
For a great article on collecting all the vital data to help you stay in control of your new business, check out Simon Whaley's Data Collator article here.
For more information on self employment, visit the HMRC website.
Blogging is an amazing concept so here I am giving it a whirl. You'll get words. You'll get pics. Sometimes a vid or two. You'll get tongue in cheek, the odd humble opinion and an honest insight into my travels and writing life. Maybe even a few gems along the way. I'll be musing on home turf as I see more and more of the UK and sharing my experiences further afield on holidays and adventurous trips across the globe.