Hi
Apologies for the basic nature of these questions.
I have been asked to become a non Exec Director of a small company and for these services I will be paid a small fee. As I have always worked as a PAYE employee I am not sure how the invoicing of this should work...
I assume I just raise an invoice "For Services provided etc...."
Do I charge Vat? If so at what % rate?
From a personal tax point of view do I pay Income tax on this when I do my tax return or sooner?
Appreciate any advice
Apologies for the basic nature of these questions.
I have been asked to become a non Exec Director of a small company and for these services I will be paid a small fee. As I have always worked as a PAYE employee I am not sure how the invoicing of this should work...
I assume I just raise an invoice "For Services provided etc...."
Do I charge Vat? If so at what % rate?
From a personal tax point of view do I pay Income tax on this when I do my tax return or sooner?
Appreciate any advice