Hi,
I work as an accountant for a company in industry where I get paid a salary and pay my taxes through the PAYE system. A family member has recently set up his own business and has asked if I would look after all the company set up, filing and accounting work. He works for himself and has no employees but his income is significant enough it makes better tax sense to register as a ltd company.
Is it ok for me to just invoice him a fee for the services I provide and then do a self-assessment return? Can I set myself up as a contractor for this business even though I am already a PAYE worker? I have an ACA qualification.
One final thing to note is that the new business is in the UK.
Thanks for any help,
I work as an accountant for a company in industry where I get paid a salary and pay my taxes through the PAYE system. A family member has recently set up his own business and has asked if I would look after all the company set up, filing and accounting work. He works for himself and has no employees but his income is significant enough it makes better tax sense to register as a ltd company.
Is it ok for me to just invoice him a fee for the services I provide and then do a self-assessment return? Can I set myself up as a contractor for this business even though I am already a PAYE worker? I have an ACA qualification.
One final thing to note is that the new business is in the UK.
Thanks for any help,