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Freelance advice needed
Hey All...
Sorry if this has been asked before - but I;ve been loosing sleep on this one..
I'm looking to lower my days in my full time job to three days and with the remaining 2 days I'll freelance.
Does anyone know the procedures VAT wise - can you charge VAT on design? (I'm not VAT registered)... Ive also been told I must register myself as a 'company' too... Is this correct..?
I'm estimating I'll be earning an extra £10k a year - do I need to declare that to anyone??
Sorry about all the questions - the credit crunch at work is making everyone a bit nervous....
Thanks.
Op.
Sorry if this has been asked before - but I;ve been loosing sleep on this one..
I'm looking to lower my days in my full time job to three days and with the remaining 2 days I'll freelance.
Does anyone know the procedures VAT wise - can you charge VAT on design? (I'm not VAT registered)... Ive also been told I must register myself as a 'company' too... Is this correct..?
I'm estimating I'll be earning an extra £10k a year - do I need to declare that to anyone??
Sorry about all the questions - the credit crunch at work is making everyone a bit nervous....
Thanks.
Op.
- Contact in PM
urbanbindi
Messages count : 7Likes count : 0Registration : 22 July 2008I did exactly the same thing as you but now I've left my fulltime job to concentrate on my freelance role for a while before looking for a bigger and better job as a designer.
YES you do need to have your business registered via companies house, you can do this through their website. Go for the basic package, it costs around £30 and with that you get your documents of registeration etc in PDF format.
You do not need to be vat registered unless you're turning over at least £60,000. So don't bother with it unless you know you're going to hit that amount.
You'll need to pay corporation TAX at some point, but all of that will be made clear once your business has been formed. - Contact in PM
MrMackem
Messages count : 4Likes count : 0Registration : 3 August 2008urbanbindi, post: 9022 a écrit :
YES you do need to have your business registered via companies house, you can do this through their website. Go for the basic package, it costs around £30 and with that you get your documents of registeration etc in PDF format..
No you don't.
If your a limited company you do - if you're a sole trader you don't.
I don't know of too many freelancers who are registered with companies house.
Sole trader - register with HMRC as a sole trader - pay taxes when they want it.
Simple.
Oh and it'll save you £30.