Task 3
So I know what you're thinking, having a CV that's great, but what if you don't want to work for 'the man', well I hear ya and it looks like your going freelance...... Apart from bags of skill and bags of make-up let's take a look at the boring stuff you need to be a freelance.
So I know what you're thinking, having a CV that's great, but what if you don't want to work for 'the man', well I hear ya and it looks like your going freelance...... Apart from bags of skill and bags of make-up let's take a look at the boring stuff you need to be a freelance.
The
first thing you're going to need to do is register as self employed. You need
to do this as soon as you can as avoiding it can leave to a penalty, you can
let HM Revenue and Customs know that you are self employed by
registering on-line at https://www.gov.uk/new-business-register-for-tax
which will take you through step by step. This will make sure you
pay the right income tax and national insurance when it comes to your self
assessment tax return.
Once
you have registered you’ll receive a letter from HM Revenue and Customs at the
beginning of the financial year (Usually in April or May) The letter will
explain that you need to send a tax return. luckily you can do this on-line and
there is a lot of help you can find on https://www.gov.uk.
In
order to make sure you are taxed properly you're going to need to keep a good
accurate records of your income and outgoings that can be easily read by HM
Revenue and Customs if they ask to see them. This means you should always keep
proof such as receipts for goods, bank statements and invoices.
So what is an invoice?
An
invoices is a bill that you must give to a customer by law when you have sold
them a product or service. this is not the same as a receipt, a receipt
is simply an acknowledgement of payment, an invoice tells the customer
how much and when they need to pay you.
When
you design your invoice remember it must clearly state Invoice on it and
contain the following information:
- An invoice number, each invoice should have a unique number this is so that you can identify them easily.
- Your name, Your company name, address and contact information
- The name and address of the customer you’re invoicing
- A clear description of what you’re charging for
- the date the goods or service were provided
- The date of the invoice
- The total amount owed
- VAT amount if applicable You only need to apply for VAT if: your VAT taxable turnover is more than £81,000
- A section to clearly outline payment terms, if you want to be paid within so many days you need to state this
You
can also find templates on-line or can pay people to design forms for
you. Invoices are simple enough though that you could start one from
scratch in excel or word, if you are struggling and need a free helping hand ,
you can find a variety of professional looking templates through Microsoft word
or excel, that you can customize to suit.
Apps are also available to download to do your invoice on, I found invoice 2 go through a message board It allows you to create invoices from your phone, tablet or computer and also syncs them across your devices. meaning you can invoice on the go and access that same invoice later on a laptop or computer. As well as how to pay it can include a paypal link. The app then records information and displays who has paid there invoices and who still owes you money in charts and reports to easily track your money.
I think is enough for one post! I don't want to share my invoice form yet until i have my logo ready to put on it so that everything links together, but when its ready i will be sure to post it here.
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