Self Employed - Bank Account & Invoicing

[Firewire]

Hi ,

I have started doing software business by my own and have registered as self employed with HMRC before 12 days by applying from online HMRC page. Can some please help me on below points.

1. My clients are ready to pay me right now. I called HMRC to inquire that my registration completed or not but they said it will take few weeks. Can my clients pay me right now in this situation or should I wait for some more time?
2. Do I need a separate bank account other than my personal account to do business as self employed in UK?
3. While extending my stay in UK, I need to show my earnings by submitting valid Invoices as a self employed to UKBA. Can someone guide me on valid Invoice format? or I can provide my mail id to get if already available with anyone?

Any help will be appreciated.

Best Regards

 

[sla3]

1. Don't delay! Get the money in.
2. Ideally yes, but don't let that stop you doing 1.
3. There is no prescribed format, but here's a guide to what must be included where relevant Invoice details Ignore the bit about VAT number as I imagine you're not VAT registered

Don't let not having any of the information required on the invoice stop you from sending a bill to your clients and getting paid.

 

[crphillips]

Just get the work invoiced. Give them an invoice number and get it issued. You don't need a business bank account. I traded through my personal account for a year or two. No harm in this as YOU are the business.

When you start doing more trade it would be a good idea to get an accountant and a seperate business bank account. I'd recommend using your personal bank account as long as you can though as you get charged on a business account. Your bank will pick up on it eventually and tell you to sort a business account,

Not sure about point 3.

 

[Christine Hough]

You say you are extending your stay in the UK.. If you are not a UK national just check you immigration status as not all visas allow you to be self employed. I know student visas do not.

Hope this is a red herring and does not affect you, but thought it best to mention.
And best wishes

 

[Firewire]

Thanks a lot all of you... I got all the details what I wanted...