Hi There!
This is my first post so please forgive me if this is the wrong place or I do anything else I shouldn't haha.
I'm currently employed by a company as a graphic designer. Someone has approached me (outside of the company I work for) and asked me to carry out some work for them- for which they'll pay me. This is quite a large project with the total cost for the client being just under £1000 and is something I'll complete in my spare time. Being a full-time employee to a business, I do not have a limited company or any freelance infrastructure set up. This is a one time project but does have the potential to progress into my projects from this client down the line. Do I need to set up a business just to take on this one client? If so... What's the simplest way of handling this situation so that I fall in line with the law. As you can probably tell I really don't know much about taxes or limited companies so layman terms in the replies would be very much appreciated.
Thank you!
This is my first post so please forgive me if this is the wrong place or I do anything else I shouldn't haha.
I'm currently employed by a company as a graphic designer. Someone has approached me (outside of the company I work for) and asked me to carry out some work for them- for which they'll pay me. This is quite a large project with the total cost for the client being just under £1000 and is something I'll complete in my spare time. Being a full-time employee to a business, I do not have a limited company or any freelance infrastructure set up. This is a one time project but does have the potential to progress into my projects from this client down the line. Do I need to set up a business just to take on this one client? If so... What's the simplest way of handling this situation so that I fall in line with the law. As you can probably tell I really don't know much about taxes or limited companies so layman terms in the replies would be very much appreciated.
Thank you!
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