Talk to me about freelance work - getting set up/invoicing etc

[mrsjackbauer87]

I've been SAH for a few years now, looking to get back into work and I've just seen a freelance role being advertised that would suit my experience. Thing is I've only ever been PAYE and have no idea on how freelance would work.

Can someone explain to me like I'm 5 what I would need to consider? I know I would need to invoice...how? Just send an email with hours worked and bank details?

It's a shame as it seems like a great opportunity but I'm not confident about how it would work. The fact that I've been out of the workforce for a number of years is not helping as I already feel on the back foot.

I issue numbered invoices so that you can set up a system to keep track of when they are paid
you would need to factor in paying tax and NICS class 2 and 4
unless you are a business with a huge turnover you can fill in self assessment on line although it is not too expensive to have an accountant do it for you

Can you give an idea of the type of work it is? Is it a contract role with an agent or directly for the client?

The income and expenses may well determine how you structure yourself, charge VAT etc. The usual routes are sole trader or ltd company. The latter may involve an accountant.

It's directly with the employer, 12 months for a project around revamping their learning and development. The advert states they are estimating it to be a 2 day a week role.

Part of me thinks this is perfect to dip my toes back into work and part of me wonders how much knowledge/skills I've lost and that I would be better looking for a more straight forward employed role with less responsibility.

Ok thanks.

Unless you're on a huge daily/hourly rate, I doubt an accountant will be feasible. In which case it sounds like you need to set up as a sole trader and sort your own tax/NI as the PP has mentioned.

This involves a fair amount of admin so you'll need to balance this against the advertised rate, which should be higher than an equivalent PAYE job to account for the loss of benefits.