Your guide to seamless accounting and administration

Are you considering taking the exciting leap into self-employment in Malta? Being your own boss and pursuing your passion is an exciting journey, but it comes with its fair share of challenges, particularly in the realm of accounting and administration. Fortunately, you don’t have to navigate this path alone.

The self-employment landscape in Malta

Self-employment is a thriving sector in Malta, encompassing a diverse range of professions. Whether you’re a driver, real estate specialist, technician, hairdresser, beauty therapist, nail technician, chef, handyman, or a freelancer working in any industry, here are important obligations you must fulfill:

1. Social Security Contributions: As a self-employed individual, you’re required to contribute to social security payments, safeguarding your future financial security.

2. Tax: Meeting your tax obligations is crucial. You must pay income tax and provisional tax as required by Maltese tax law.

3. VAT (Value Added Tax): Depending on your income and business activities, you may need to register for VAT and file regular returns.

Navigating the administrative maze

One of the biggest challenges faced by self-employed individuals in Malta is the extensive paperwork and administrative processes involved. From the moment you decide to embark on your self-employed journey to daily operations, understanding which authorities to consult and how to manage essential documentation can be daunting.

Fairwinds Management Limited: Your trusted partner

At Fairwinds Management Limited, we recognise the complexities of self-employment and the strain it can put on individuals, especially those starting this exciting journey. Our experienced team is here to guide and assist you in every aspect of your self-employment venture, streamlining your administrative burdens.

Our comprehensive services for self-employed individuals

We offer a comprehensive suite of services tailored to meet your unique needs as a self-employed professional:

1. Registration with Jobsplus: We can assist you in the process of registering with Jobsplus, ensuring you meet all necessary requirements.

2. Bookkeeping: Our meticulous bookkeeping services ensure your financial records are accurate, up-to-date, and compliant with regulations.

3. Social Security Contributions: We’ll help you navigate social security contributions, ensuring your future financial security.

4. Personal Tax Returns: Filing personal tax returns accurately and on time is essential, and we’re here to assist you every step of the way.

5. VAT Returns: If you need to register for VAT, we’ll handle the application process and file your VAT returns.

6. Representation with Tax Authorities: Should you require representation or assistance with tax authorities, we have the expertise to protect your interests.

Embarking on a self-employment journey in Malta is a rewarding experience, but it’s essential to have the right support in place to navigate the complexities of accounting and administration. At Fairwinds Management Limited, we have the knowledge, expertise, and dedication to help you achieve success as a self-employed individual in Malta. Let us be your trusted partner on this exciting journey, ensuring a seamless and prosperous venture into self-employment. Don’t let administrative challenges hold you back—take the leap with confidence and thrive in the world of self-employment in Malta.

Fairwinds Management Limited is a MFSA licensed firm offering Business Solutions in Malta. As part of our services, we offer Accounting, Administration, Corporate and Legal solutions.  Fairwinds Management also manages the brand Accounting Services. More information about us and our key services please visit our website. You may reach Fairwinds Management on +356 2704 0903 or info@fairwindsmanagement.net.

Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.