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Freelance work - getting paid

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mattastic
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2005/08/04 12:46:30 (permalink)
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Freelance work - getting paid

Hi,

I'm in the process of getting some freelance work sorted, hopefully it might turn out to be a few hundred quid.

Problem is I've never done this before, I've given the client a quote, but how do you go about getting paid?

Do you set up a company and get an accountant to sort it all for you?

TBH, I dont really want the taxman to get his hands on it as it won't be worth me doing it other wise, any ideas? Not sure what to do.
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    footdee
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    RE: Freelance work - getting paid 2005/08/04 12:54:06 (permalink)
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    Watch out...mod Kitty works for the Inland Revenue............

    Don't know if that's actually true BTW
    post edited by footdee - 2005/08/04 12:56:38
    #2
    Clair1111
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    RE: Freelance work - getting paid 2005/08/04 12:54:10 (permalink)
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    I would be dubious about doing a vast amount of "cash in hand work" because legally you have no stance on any matters involving yourself, your business & your clients!!!! The Client will always have a upper hand as they will know your not claiming it and your laying yourself wide open.......not many clients will do cash in hand anyway. Plus its illegal

    I work freelance and had to declare myself self employed with the Inland Revenue and then once a year I hand all invoices, receipts etc over to an accountant

    At the end of a job you should always invoice a client with terms of payment - ie 30 days end of month or date of invoice!


    Whats your business?
    post edited by Clair1111 - 2005/08/04 12:55:17
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    mattastic
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    RE: Freelance work - getting paid 2005/08/04 12:59:21 (permalink)
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    Web development, its a one off job though, alongside full time employment.
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    TooSmall
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    RE: Freelance work - getting paid 2005/08/04 13:05:16 (permalink)
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    Just invoice them and get them to write YOU a cheque.

    Make up a company name on the invoice so they can put it through their books, and just bank the cheque as normal into your personal a/c.

    Easy enough mate.

    Forget Elvis, Arnie is the king.

    #5
    Rob1985
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    RE: Freelance work - getting paid 2005/08/04 14:14:01 (permalink)
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    ORIGINAL: TooSmall

    Just invoice them and get them to write YOU a cheque.

    Make up a company name on the invoice so they can put it through their books, and just bank the cheque as normal into your personal a/c.

    Easy enough mate.
    I do freelance web design sometimes and that's exactly what I do.
    #6
    mattastic
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    RE: Freelance work - getting paid 2005/08/04 14:35:34 (permalink)
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    ORIGINAL: TooSmall

    Just invoice them and get them to write YOU a cheque.

    Make up a company name on the invoice so they can put it through their books, and just bank the cheque as normal into your personal a/c.

    Easy enough mate.


    Isn't that traceable though and illegal?

    Won't the accountant of the company who's paying you, see a company name in the books that doesn't exist, and start to ask questions?
    #7
    TooSmall
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    RE: Freelance work - getting paid 2005/08/04 14:44:24 (permalink)
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    No the inland revenue might, but its not likely.

    Just call the company something like "the web co".

    Example: We had some building work done at work and my mate done it, cause he is employed by someone else and was doing it 'on the side' he couldn't raise an invoice, we wouldn't pay without one, as it was going threw our books, so he literly gave us an invoice from "bob the builders", its an invoice, we paid it, he got his money, we put it threw the books. Nothing dodgy on our part, he was taking the risk, but a minimal one at that.


    Forget Elvis, Arnie is the king.

    #8
    smiddy
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    RE: Freelance work - getting paid 2005/08/04 16:03:48 (permalink)
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    i do some freelance work now and again,

    Since this is freelance work and you are entitled to a certain amount per year tax free, so i call up the inland revenue and tell them i am earning and extra income of £5000 this money for some freelance work and then send them a copy of the invoice with all my deductions and expences on it and then they calculate the tax and then send me and invoice for the tax etc. sometimes if it is below the yearly free tax allowence for self-employed you might not get taxed.
    #9
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