nv43345
May 16th, 2006, 06:17 PM
hi all
soooo....at present i am employed fulltime (as a 3D architectural illustrator) and very occasionally i get outside offers of bits and pieces of work which i normally do in my spare time for a bit of 'cash in hand'.
This is all well and good, but i'm starting to get more and more of it (not enough to go fully freelance yet!) so i'm thinking that really, sensibly, i should start declaring this extra income, especially as I'm now getting asked for invoices etc by my clients.
now....the question is. How do I declare this?! I can't seem to find any forms or information or anything that really relates to this kind of situation - ie: occasional bits of work/income on the side.
now, i've always been a bit disorganised and rubbish when it comes to money and stuff (i'm alright at spending it mind you!!) so bear with me on this!!...
i figure that if i charge my clients VAT on top of my fee, and keep this in a seperate bank account, then, worst case, if i do get collared by the taxman i'll have the right amount of money there to pay them. i'm not mad keen on this idea though and would sooner do it completely legit. or should i somehow set up a little business?
any pointers, thoughts, ideas etc most gratefully recieved.
peace
chj
soooo....at present i am employed fulltime (as a 3D architectural illustrator) and very occasionally i get outside offers of bits and pieces of work which i normally do in my spare time for a bit of 'cash in hand'.
This is all well and good, but i'm starting to get more and more of it (not enough to go fully freelance yet!) so i'm thinking that really, sensibly, i should start declaring this extra income, especially as I'm now getting asked for invoices etc by my clients.
now....the question is. How do I declare this?! I can't seem to find any forms or information or anything that really relates to this kind of situation - ie: occasional bits of work/income on the side.
now, i've always been a bit disorganised and rubbish when it comes to money and stuff (i'm alright at spending it mind you!!) so bear with me on this!!...
i figure that if i charge my clients VAT on top of my fee, and keep this in a seperate bank account, then, worst case, if i do get collared by the taxman i'll have the right amount of money there to pay them. i'm not mad keen on this idea though and would sooner do it completely legit. or should i somehow set up a little business?
any pointers, thoughts, ideas etc most gratefully recieved.
peace
chj