Self-employed question
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accountantpete
OAP
I'd recommend you have a chat with your contact in the company - establish an hourly or half-daily rate and bill accordingly.
You can also ask what mileage they will pay - all the other expenses can be reclaimed at cost.
You will need to keep a copy of the invoice and originals of all others for the expenses.
Finally you should notify HMRC within 3 months of starting that you are trading as self-employed.
You can also ask what mileage they will pay - all the other expenses can be reclaimed at cost.
You will need to keep a copy of the invoice and originals of all others for the expenses.
Finally you should notify HMRC within 3 months of starting that you are trading as self-employed.
accountantpete
OAP
[QUOTE 1448636"]
Thanks Pete. We have a daily rate agreed, it was whether or not I itemise or bundle the lot up, which I will now separate and itemise.
I will contact HMRC tomorrow., I didn't realise there was a 3 month time limit, thanks for that.
[/quote]
Just print off this form
here
and send it off to the address on the page
Thanks Pete. We have a daily rate agreed, it was whether or not I itemise or bundle the lot up, which I will now separate and itemise.
I will contact HMRC tomorrow., I didn't realise there was a 3 month time limit, thanks for that.
[/quote]
Just print off this form
here
and send it off to the address on the page
aberal
Guru
- Location
- Midlothian
There are invoice templates available on the web if you search for them. I'd itemise your expenses and charge 40p per mile (standard HMRC rate) and make sure you have (and retain) all your receipts.
david1701
Well-Known Member
- Location
- Bude, Cornwall
invoice them with a table with:
Rate x use Job-1
Expenses job-1
rate x use job 2
Expenses job 2
ect
that way they know what came where as sometimes different departments pay for different jobs. Its also ok to list the jobs and then have all the expenses lumped together
Rate x use Job-1
Expenses job-1
rate x use job 2
Expenses job 2
ect
that way they know what came where as sometimes different departments pay for different jobs. Its also ok to list the jobs and then have all the expenses lumped together
brockers
Senior Member
- Location
- hollowed out volcano
FWIW I have a feeling the mileage rate is now 45 pence per mile.
I would think carefully about whether you want to trade as an individual or set yourself up as a company before you invoice and talk to HMRC. If you are going to do a lot of this stuff there can be some significant tax advantages in setting up a company rather than invoicing as an individual. You need to talk to an accountant though as only they are authorised to give advice on such matters. If its just a one off job then just set out the invoice as X days at £gazillion/day, materials and expenses as three lines and the total. Then on a backing sheet itemise the materials and expenses. Charge the HMRC rate for mileage on those. Give enough detail that they can audit the expenses. Then just send it in.
- Location
- the post-brexit wasteland
although one advantage ime is that some clients pay individuals as if employees (within a month, or with the payroll), whereas those trading as a ltd co get treated the same as any other ltd co and may have to wait up to three months for payment…
swee'pea99
Squire
Don't know whether it would help you, but it might be worth registering for VAT and for what they call Flat Rate VAT - you charge VAT at the going rate but pay it on to the IR at a reduced rate, which depends on the business you're in - and you keep the difference. Also something called cash accounting - makes the whole process simpler. Worth Googling...
slowmotion
Quite dreadful
- Location
- lost somewhere
1) Put a date on the invoice
2) Give the invoice a number (finance departments go into a flat spin if you don't)
3) Keep absolutely all your receipts, till slips etc, and file them somewhere with a spreadsheet.
My three pennies. Good luck.
2) Give the invoice a number (finance departments go into a flat spin if you don't)
3) Keep absolutely all your receipts, till slips etc, and file them somewhere with a spreadsheet.
My three pennies. Good luck.
Riding in Circles
Veteran
- Location
- EDINBURGH
You bill it as a single cost, then you use the receipts to offset your tax liability, throw the fuel receipt away and claim the mileage as a mileage allowance which gains you a lump over the fuel cost tax free.
The three month thing is out of date as of January I think; last time I looked they just said do it ASAP. It was because of Class II NI contributions which used to be paid quarterly from when you started self-employment, but now it's paid every January and July. End of the month, so technically you should register by then and pay about a fiver. I don't think you've got anything to worry about though. (For the tax side of it you need to register in time to pay your bill by the end of January.)
If you do the ltd. company thing I don't think it makes much difference to the process whether you've been a sole trader already, so no need to decide right now that that's what you'll be doing.
If you do the ltd. company thing I don't think it makes much difference to the process whether you've been a sole trader already, so no need to decide right now that that's what you'll be doing.
