Do you want to work as a freelance copywriter in the United Kingdom? If you enjoy writing, it could be the best decision you’ve ever made.

Here are some pointers gleaned from my experience as a freelancer

Money:

As a freelance copywriter, how do you make money?

As an employee, I was always impressed by the independent contractors who were brought in to assist with tasks. How do you make money if you don’t have a steady source of income?

Freelance copywriters are comparable to estate agents and solicitors in that they work for themselves. We are compensated for our efforts on a project. We frequently work on multiple projects at the same time. A client may request that we continue to work for them on a retainer basis. This implies they pay us a set monthly fee for a specific number of jobs or hours.

What does a freelance copywriter in the United Kingdom charge?

It’s not your old wage divided by 365 days that determines your freelancing rate. Unfortunately, your new income will not be equal to your daily rate multiplied by 365 days.

The following expenses are deducted from your profits as a freelancer:

If you earn more than the Personal Allowance rate, you will have to pay tax and National Insurance contributions.

Pay for time off due to illness

Pay for vacations

Contributions to a pension

Electricity, heating, and office furnishings are all examples of workplace overheads.

A laptop, printer, printer ink (HP Instant Ink has saved me at least £70 per year), stationery, creating and printing business cards, web design, web hosting, and URL registration are all examples of equipment.

Travel, professional memberships, and networking event tickets

So, how much should you bill? It is dependent on your location, industry, and specialties. For current pricing, consult the Professional Copywriters Network’s rate guidelines.

Not by the hour or day, but by the project:
You most likely worked scheduled hours as an employee. As a result, you’ll approach work pricing in the same way. Freelancing hours, on the other hand, are not the same. Do you bill by the hour or by the day? Keep track of your time in meetings, phone calls, and emails on a timesheet.

You’ll get a better sense of how long things take after your first few projects. Switch to project-based pricing at this time. Otherwise, you’ll improve and become faster, but you’ll charge less.

Another tip: you should spend 70% of your working week on projects and 30% on admin, invoices, networking, marketing yourself, and updating your website. Make sure you don’t overextend yourself.

Tip: It’s often better to charge by project rather than by time.

Obtaining employment:

How can you find work as a freelance copywriter in the United Kingdom?

Networking and training events: In my first year I attended as many networking and training events as I could. Do you despise networking? Training days are less’salesy,’ and you learn something in the process. It’s one of my ten networking recommendations for shy people.

On the strength of previous projects: It is critical to have a portfolio of previous projects. People are interested in your track record. You might be able to do things for free or at a discounted charge when you first start. However, no one else needs to be aware of this.

Collaboration with a marketing agency: Successful agencies frequently require the assistance of a second pair of hands. As a professional associate, I’m really fortunate to work with some extremely excellent agencies.

You are the director, financial officer, employee, and salesperson for your company. Instead of thinking of it as a sales pitch, consider it as a way to assist. Is it possible that you’re making a client’s life easier? Then you’re helping them have a better life. It’s just that you need to get compensated for your services because you’re not a charity.

Social media: Use Twitter and LinkedIn to follow companies and people in your dream industry. Like their posts or, even better, leave a comment on them. It’s just a tiny tug on the sleeve to let you know you’re there.

“I recently graduated and would like to work as a freelance copywriter. “Do you have any suggestions?”

Join a freelance website such as Techlancer.

Getting some work experience beforehand is usually a smart idea. Consider positions in a large corporation’s communications department, as well as marketing and advertising companies. Working on a company intranet is a terrific way to get your foot in the door. Many copywriters begin their careers in journalism. Smaller contracts could also be used as a’side hustle’ to build up your portfolio.

Networking continues to be effective:
You’ll need to attend a lot of networking events at first. Some of them will feel comfortable, while others will not. But don’t feel compelled to sign up.

For an ex-employee, the best networking gatherings usually involve a lot of conversing and can feel like ‘jollies.’ They are, nonetheless, all necessary steps in the process of obtaining the job. They are, in my opinion, an important benefit of being a freelancer.

Payment:

The industry standard is to charge 50% up front:

The industry standard is a 50% project kick-off fee. They’re betting on your ability to complete the task. However, you’re gambling that they’ll pay you the whole amount. If they disagree, move away because they’ll most likely be a miserable client.

The only exception is for larger projects, where you may need to split payments into three parts: 33 percent at the start, 33 percent in the middle, and 34 percent at the finish.

The greater the client, the longer it takes to get paid:
Unfortunately, some huge corporations have absurdly extended payment periods. You issue your invoice, but it could take weeks for them to pay it. This is why it’s critical to learn about their payment terms and to be paid a percentage up front so you can keep up with your bills. To alleviate the burden of late-paying clients, attempt to set up a buffer savings account if at all possible.

It helps to spread out the payment rollercoaster if you have a number of clients rather than just one or two large contracts.

Expenses aren’t the same as free money:
My father kept telling me to “just put it on costs!” when I first started. Expenses, on the other hand, do not come from a large pot of free money. You must still pay for them. You simply do not have to pay tax on them after a year.

Should I discount or should I not discount?

Always show the full price first on your invoice if you’re discounting to build up your portfolio or aid a charity. The discount is then shown, followed by the total amount due.

Why? When someone asks, “How much did your copywriter cost?” You want them to quote your full pricing and then add, “but we got a discount.” They will quote your discounted cost if you don’t tell them otherwise.

Tax:

Profit and turnover:

Profit, not turnover, is the basis for taxation. Don’t know what they’re talking about? The money that comes in is referred to as turnover. Turnover minus expenses equals profit.

Once a month, keep track of your income and expenses.

Each month, I use a spreadsheet to track my income and expenses. It’s quick and easy, and it saves me time when it’s time to file my tax assessment.

From the start, put money aside for taxes.

You may start hiveing off this right away – see my Profit First advice below.

You must make Payments on Account to HMRC by 31 July as well as 31 January after reaching a particular threshold. That’s a 50% increase in tax due, which can be quite shocking if you aren’t aware of it.

Don’t forget to factor in National Insurance:
If you’re self-employed, the amount you pay is determined by your earnings.

So if your profits are over £6,500 a year, you must pay £3.05 a week in Class 2 payments, which is £158.60.

More than £9,500 in profit? That’s an additional 9% for Class 4.

Check out the government’s Self Employed National Insurance Rates for specific figures.

You have the option of submitting your tax assessment at any moment.

You may have overheard self-employed pals muttering about ‘getting their taxes done’ in January. However, you can submit them at any time after March 31st.

In the summer, I try to figure things out. My accountants are less busy at that time, and I feel more at ease knowing exactly how much my tax payment will be in January.

Do you require the services of an accountant?

I required an accountant because I went from PAYE to freelancing in the middle of a tax year. I’ve kept with them, though, because they’re fantastic sounding boards and can spot possible problems. There are also rumours that if you choose a reputable accountant, you will be less likely to be probed by HMRC.

Profit First is an option to consider:
Making tax payments can be jarring if you’re used to a steady paycheck. I strongly advise you to use the Profit First technique, in which you divide your money into pots and dedicate them to different areas.

When I get paid, for example, 5% goes into my Profit pot for goodies paid for by the firm, 60% goes into Owner’s Compensation – such as salary to myself, 25% goes to Tax/NI, and 10% goes to Operating Expenses. Depending on whether a pot, such as Operating Expenses, is overflowing or needs to be replenished, I may modify the percentages.

Taking care of yourself and your imagination

Disable phone alerts:
A customer email arrived one evening, which set my gears churning and kept me awake. My email is now scheduled to only appear between the hours of 9 a.m. and 5 p.m. I can only access it by accessing the app panel on my phone, and I’ve disabled Twitter and Facebook notifications as well. When I turn on my laptop, my’shop’ opens.

You require rest. You must also establish boundaries with your clients. Guess what happens if you respond at 11 p.m.? They’ll expect the same level of service the next time they visit.

You must safeguard your brain and enable it to rest before returning to work the next day. Otherwise, you’re deceiving your customers because you won’t provide the kind of service they paid for.

Have faith in your instincts:
It may sound counterintuitive, but if you get a sinking feeling while speaking with a prospective client, walk away. It’s difficult to say no to work. However, your gut tells you that this isn’t the proper endeavour for you. Surprisingly, my gut has always known. I always regret it when I overrule it.