how to invoice?

[Sockpuppet]

its all good my agency have recieved the time sheet, i was just lazy in setting up the ltd company and then the accountant in terms of fillin in the forms, im one of those lazy ppl.

hopefully ill invoice them tommarrow and i'll get paid a whopping 29900

your company will get paid

Its not your money yet.

[RichardCranium]

it's all good my agency have received the time sheet, I was just lazy in setting up the ltd company and then the accountant in terms of filling in the forms, I'm one of those lazy ppl.

hopefully I'll invoice them tomorrow and I'll get paid a whopping £299.00

Not a bad rate for a first contract. As I said, Congratulations!

It is probably worth phoning Hays and warning them this invoice is on its way, just as a courtesy. That way it should help prevent any delays. (They shouldn't quibble, that kind of money is one hour's turnover for them.)

Now then, this is important.

1. Put the VAT component into a separate company deposit account. NEVER spend the VAT. You can go to prison for that, at the least it will wreck your life.

2. Put a suitable %age into that deposit account to cover the tax component. Ask your accountant what that %age should be (don't ask me, I always put too much in).

3. Do NOT be tempted to blow the rest! Think about how much it has cost you to stay housed and fed and warm since you started this gig, and put that much into the deposit account too. That will see you through your next lean patch.

4. Do NOT EVER leave it that long again. Agencies DO go bust. A colleague of mine had 4 months timesheets outstanding when Plexian went bust; he got nothing. And you want the interest to be earned in YourCo's account, not in the pimp's account.

5. Pink champagne is the tasteful way to celebrate when you're a contractor. And perhaps a nice watch.

6. Congratulations!

[NotAllThere]

...hopefully ill invoice them tommarrow and i'll get paid a whopping 29900

I thought you said 5 months, not one month.