Advice needed

GillD

Hi

I am a Director of our own company and employed by the same. I have been asked to do some credit control on a self employed basis for another company. Would I need to become a member in practice? And as I am paying NI on my main employment would I need to pay additional NI on the small amout earned on the credit control work? I would be carrying out the credit control work at the other companies premises.

Thanks

PGM

You don't need to be a MIP to do credit control.

If you do it as self employed the income would be treated as part of all your self employed income.

Although if you have a ongoing contract it could be seen as employment. This is often a problem when consultants have ongoing work.

Although in that case you'd be paid under PAYE.

GillD

They just want me to give them an invoice for the hours worked. Would I need to have a formal letter of engagement or something? and insurance?

PGM

Maybe a written contract/agreement, which is always a good thing to have.

Letter of engagement is more of an auditing agreement term.

Insurance is a nice thing to have but shouldn't really need it for credit control, would cost more than what you'd make?!

GillD

Thanks PGM