Hourly Rates for Freelance work

(5 Posts)
MEgirl Wed 02-Nov-16 17:57:01

Not sure if this is the right place. Hope someone will have an answer.

Someone has asked me to help them set up a basic accounting spreadsheet and help them on a monthly basis to maintain the data. As I'm new to this I'm not sure how much to charge for this work. In case it is relevant, I'm based in North London. I've already spent 1.5 hours working on this. I don't want to overcharge as I don't want to scare away a potential client. On the other hand I also don't want to underestimate the value of my time.

Can anyone help?

flopsypopsymopsy Wed 02-Nov-16 19:32:53

Is this a one off or are you hoping to get more work/other clients?

A previous thread on here recommended that the salary in k should equal the hourly rate.

So...... £25k = £25

Your hourly rate should be more than PAYE as you're not getting any benefits/sickness/holiday/etc.

MEgirl Wed 02-Nov-16 20:23:17

Thanks. I don't think this particular person will generate other clients though I can but hope. I'm hoping though that I can use him as a referee in the future.

Greythornes Wed 02-Nov-16 20:33:26

The £25k pa = £25 per hour is a good rule of thumb.

flopsypopsymopsy Wed 02-Nov-16 21:54:44

It's quite difficult because there are people on peopleperhour who will charge £7 an hour for this type of thing.

Could you charge for the project?

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