Consultancy Work Question

[JamesUK]

Hi,

I've been asked to carry out some paid consultancy work for a family business (I am related to the business owner). The business is not performing too well and they have asked for me to have a look at a few different parts of the business to see where things are going wrong. I want to do things properly so need to be sure of a few things.

If I carry out the work and then issue them with one itemised invoice, will I need to register for VAT, business rates etc? I can't see the total invoiced work coming to over £1,500, but does this matter? Also, this is a one-off thing and I will not be issuing more than one invoice.

I work part-time (earn over the personal allowance) and am a full-time university student.

Any info and advice will be greatly appreciated!

 

[profitxchange]

I would treat this as a one off casual assignment. no need to register for anything.
What is the output of your assignment? A diagnostic report?
If you want to invoice, just submit one, listing carefully what your remit was and what the client gets.
Ensure the client signs off that they are happy with your work and the output when you have finished. Otherwise you must take out professional indemnity insurance which will probably negate any profit.

Ensure the assignment has a clear start and end. Otherwise you may get dragged back to relook at this, that or the other. Working with family is always iffy! and they usually expect on the cheap.