For the past couple of months, I’ve been rather lazy about chasing people up. You could generously classify this is me “being patient” but, in truth, I think it’s just a relief to have one fewer plate to spin. It takes the pressure off when someone says “I’ll get back to you” and grants you permission to put your feet up for a bit.
However, in the end, all I was doing was storing up trouble. And also storing a box of gin glasses in my hallway but that’s a story for another day. So where’s the line between being accommodating and letting things slide?
After untangling a few messes of my own creation this week, I tried to make a mental checklist for different types of query - from employers to builders - and classify them by when to chase, when to relax, and when to just forget the whole thing But as the list grew ever longer, I realised that it’s not the query itself that dictates the category, it’s the consequences of my query being unresolved.
If I don’t chase something up, what might happen? One scenario is that I end up letting someone else down - there’s often a chain in professional matters and sometimes you really are “asking for a friend”. Perhaps that someone else needs a specific piece of information, or perhaps there’s bad news on the horizon for which you could help them prepare. Letting people down isn’t just a horrible feeling, there’s reputational risk to consider.
Or there are practical concerns - in Freelance Land, getting paid is something you can never assume will go without a hitch. It’s good to get a gentle reminder in before you have to get aggressive in your correspondence.
Then there’s the risk of snowballing. If you don’t nip something in the bud, will it get worse? Will people get more wedded to an attractive but impractical course of action? Or is there a direct cost of inaction or to needing to change course later?
And finally there’s disappointment. If we don’t chase things up, might we needlessly miss out? How often do we say or hear the words “I wish you’d reminded me”?
So I am checking all my outstanding queries against these consequence-categories before deciding how soon or whether to chase:
Dependents (other people need me to be in control)
Practical (real-life consequences)
Snowball risk (this could get worse)
Disappointment (I’ll be sad to miss out and even sadder if it turns out that I needn't have done so)
The Holy Grail of unresolved queries, of course, is the one that resolves itself before you have time to attend to it. But, really, how often does that happen? And anyway, I quite like being indispensable.
Tax corner
I promised to share anything useful that I found out while preparing this year’s tax assessment - my first proper one as a freelancer. Before doing so, let me state (as if it weren’t blindingly obvious) that I am not a tax advisor. I am a tax idiot - that’s why I have a tax advisor.
On the subject of late payment - ie, when you were paid for work you did in the following tax year. I’m told it’s fine to declare only the income you’ve been paid in the tax year.
However, this means using the “cash basis” of accounting rather than the “traditional basis”. (I have no idea what either of those things are but I don’t need to know since I won’t be the one preparing the tax form.)
Apparently, there are a few drawbacks to using the cash basis, which mostly seem to relate to running a proper-serious business. I’m not so, again, I don’t care about that - but just in case you are, here’s the list. You may not want use the cash basis if you:
- need to get finance for your business - a bank could ask to see accounts drawn up using traditional accounting to see what you owe and are due before agreeing a loan
- have losses that you want to offset against other taxable income (‘sideways loss relief’)
- run a business that’s more complex, for example you have high levels of stock
- want to claim interest or bank charges of more than £500 as an expense
Hope that’s helpful to at least a couple of you.
Friday dance break
Ooooooo,.... Ahhhhhh…. And after the silly costumes comes the fire - bonfire night is nearly upon us. I hear the young people aren’t bothered about bonfire night although I’ve no intel about why. Environmental concerns? Unfortunate religious connotations? A heartfelt desire to blow up parliament? (Who among us, eh?) Surely it’s not because they don’t enjoy freezing their bum off in a local park?
We had all the best “fire” songs a couple of weeks ago so I’ve looked a little more laterally. Talking Heads’ Burning Down the House is surely the track with the most appropriate title if you fancy blue-steeling it up this morning. But disco is also a rich seam - Donna Summer’s Hot Stuff presents itself but, I think, is just edged out by The Trammps' Disco Inferno. Start your weekend with a bang. ✨