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When you’re a self-employed dad-to-be getting to grips with your paternity pay rights will help with:
- planning the amount of
taketo time off;
- understanding how your earnings will be affected.
Self-Employed Paternity Pay
Whilst being your own boss can bring many benefits
That means you may not be able to earn any money for any paternity leave you take.
It’s a similar situation to when you take time off for a holiday or if you are sick and can’t go to work.
How to Plan for Your Self-Employed Paternity Leave
The key to preparing for your paternity leave when you’re self-employed is to start planning early.
That way you’ll be able to:
- Make sure you have enough money set aside while you are not earning;
- Warn your customers that you are taking some time off for paternity leave;
- Pick a date by which you need to have all your work completed and up to date so nothing is overdue while you are on leave;
- Arrange support and assistance to cover anything important while you are off.
Government Support for the Self-Employed
Although there is no such thing as self-employed paternity pay, there are other forms of financial assistance available. This includes Child Benefits and Tax-Free Childcare support.
Read More: Tax-Free Childcare for the Self-Employed
Anita is a Chartered Accountant with over a decade of experience taking self-employed business owners from financially confused to business savvy.
She is the creator of the ‘Go Self Employed’ website, which is her corner on the internet where she makes self-employment less terrifying.