Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚

Advice needed

GillDGillD Just JoinedRegistered Posts: 4

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.



  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    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.
  • GillDGillD Just Joined Registered Posts: 4
    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?
  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    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?!
  • GillDGillD Just Joined Registered Posts: 4
    Thanks PGM
Sign In or Register to comment.