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You should register for self employment, the procedure is here:
You can then run your consultancy within your self employment envelope. On registration HMRC will send you a self assessment return form for completion at the conclusion of each tax year [5 April]. If this business breaches the VAT Turnover Threshold you will have to register and operate UK VAT. Inter EU sales are standard rated supplies.
Sorry, I am have mislead you. Is your start up business a limited company?
Right, panic over, no problem then. Remember any payments made to you as a director must be made through PAYE channels.
They are already separate as a limited company is a different legal entity from its directors and shareholders. What you propose will not work as your self employed income is taxable as Income Tax (IT) anyway.
You invoice as normal, but in your personal capacity.
A VAT Number is ***** needed unless you are registered for VAT. As you are invoicing as self employed you can, but I would recommend running a separate business account.
If you are not registered for VAT than any format will do.
Have a look here for guidance on this matter:
Try this one then:
Net profits from self employment will be exposed to Income Tax and National Insurance in the usual manner.
Unless you can tell me the amount involved, I cannot. In any event I am 6 hours ahead of BST here and will respond in the morning, sorry.
Income Tax (IT), Nil, 10K is below your Personal Allowance of 12.5K.
National Insurance (NI), GBP 164.
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As you will owe NI you will have to self assess.
Oh yes, here is the link:
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No, you make the return for each year's net receipts for the tax year, 6 April to the following 5 April.
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