Professional Contexts 2 – Branding business, contracts & forms

Second Year

 

In this session, we looked at the business identity, image copyright and some discussions of VAT.

Starting with the way of registering as self-employed via HMRC and we were told the HMRC website including all information we need to be aware of. Then we went through the business identity, from example, sole trader, partnership and limited company. Talking each of definition , how we run our business as different identity, also, we talked about the pros and contra on those identities.

 

 

Then we ran to the copyright. Copyright is a complex area low. The definition from Cambridge Dictionary, ”The legal right to control the production and selling of a book, play, film, photograph, or piece of music.” If taking it simple, quoting from Beyond The Lens, it said ‘copyright gives the photographer alone the right to control the use of their photograph, through the “restricted acts.”, which means the creator owns the copyright on piece of work, however, it could be more complicated if running business.”

 

Copyright stands different position in identity of business, basically, sole trader hold the copyright as well as a business owner, while employee of company is opposite. Besides, copyright in partnerships would be controversial as running business, which they should fully understanding it would stay with one partner or both.

 

VAT is another issue when running business which might face with. Beyond the Lens pointed out, “it is important that any person in business should understand how VAT affects their income and expenses, and the legal requirements for VAT registration and payment. This section will define the differences between voluntary and compulsory VAT registration and will clarify those goods and services on which VAT must be charged and on which VAT an be reclaimed.” We also had told VAT level changes every year, which we should keep checking it regularly. The reason to register because if we have reached the threshold, we could claim back VAT on purchase goods which up to 4 years before registering, the goods in meaning of anything stuff we buy, excluding a service or stationary.

 

I think I would do what most photographers do as a sole trader. Because I want to have more freedom to keep learning things, also, I could have spare time working with both commercial and personal project. But the downside is I have responsibility for all my business debts as a sloe trader, I could works as both freelancer and for Ltd. Company, generally I think I would focus on sole trader. I realize that I should get into depth to know what VAT something like this and be aware of it so I would not too worry about it when starting business. Unless I find someone is fully trustful to work as partnership, and I know the person really well, or I would not take the risk which might bring about responsible issue.

 

I would consider to be a freelancer working above 5-7 years after starting business, then thinking about being an employee because I think working after 6 year roughly which showed enough personal working experiences in professional industry, knowing that how to communicate with client, conveying my thought confidentially, and increasing my connections to other people, expanding career network, from my point of view, most companies would hire worker who has got work experiences, if I have to turn into member of stuff, I would have a rough plan similar like this, setting up the target of time to see how far I could approach, however, if that doesn’t work well, I still could be the sole trader or looking for  partnerships.

 

Apart from registration with HMRC, I think social media like Facebook, Twitter or Instagram would be other ways to show that you as a freelancer, furthermore, some platforms which offer freelance jobs would be the great path to show yourself as well as spreading out your finished projects. Maybe, traditional way could work as well, depending on which clients you want to let them het attract on you. Another one is assisting for photographer which would be helpful to spread your career to get to know more people who has the same passion as you.

 

By reading through ‘Setting Up A Successful Photography Business’, it said as a self-employed, HMRC would require you to pay certain taxes, such as income TAX on the earning money, corporation TAX if working for a limited company, as well as own National Insurance contributors, which describe in a easily understanding way nut I think I should look at other discipline of working non-nation country which might be different with what the book said about.

 

 

Reference: