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Director of dormant (events) company, being asked to do freelance work

Discussion in 'General Business Forum' started by TIWAPOS, Nov 10, 2018 at 3:51 PM.

  1. TIWAPOS

    TIWAPOS UKBF Newcomer Free Member

    2 0
    Hello all,

    I am the director of a dormant events limited company, and I dont have any immediate plans to restart it until at least the new year.

    This past week, a friend of mine has asked me to do some design work for them (unrelated to my business but I used to do it in the past before I formed my events company), and this will be paid work.

    As this is unrelated to my dormant company, and as my friend needs invoicing, would the best course of action in this scenario be to register myself as a sole-trader for this work?

    Any other suggestions at all?
     
    Posted: Nov 10, 2018 at 3:51 PM By: TIWAPOS Member since: Nov 10, 2018
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

    13,924 2,974
    Yes. Although if you will have no other self employed income during the year and the total amount you receive is less than £1,000 it will fall within the £1,000 tax free trading allowance.

    https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income
     
    Posted: Nov 10, 2018 at 5:59 PM By: Scalloway Member since: Jun 6, 2010
    #2
  3. TIWAPOS

    TIWAPOS UKBF Newcomer Free Member

    2 0
    Thank you.

    In terms of invoicing, would it be something as simple as whipping something up in Excel?
     
    Posted: Nov 10, 2018 at 7:13 PM By: TIWAPOS Member since: Nov 10, 2018
    #3
  4. Scalloway

    Scalloway UKBF Legend Free Member

    13,924 2,974
    Yes.
     
    Posted: Nov 10, 2018 at 9:48 PM By: Scalloway Member since: Jun 6, 2010
    #4