http://www.bitful.com/2002/10/30/tax/ UK-based weblog on technology, queerness, language and fitness Tue, 16 Mar 2010 09:05:10 +0000 hourly 1 http://wordpress.org/?v=3.1 http://www.bitful.com/2002/10/30/tax/comment-page-1/#comment-195 Chig Thu, 31 Oct 2002 12:44:00 +0000 http://www.bitful.com/wordpress/?p=278#comment-195 Remind me on Sunday and we can talk about invoicing then, as I've had to do it for freelance work. That'll be exciting, won't it?! Remind me on Sunday and we can talk about invoicing then, as I've had to do it for freelance work. That'll be exciting, won't it?!

]]> http://www.bitful.com/2002/10/30/tax/comment-page-1/#comment-194 Luca Thu, 31 Oct 2002 12:20:00 +0000 http://www.bitful.com/wordpress/?p=278#comment-194 Thank you Ian. I am proud to report that invoice # 039 is currently on its way. You are right, it is quite surprising that the Italian tax system is so complicated and strict - which probably explains the existence of such a high number of transactions and contracts that are carried out outside the system. Thank you Ian. I am proud to report that invoice # 039 is currently on its way. You are right, it is quite surprising that the Italian tax system is so complicated and strict – which probably explains the existence of such a high number of transactions and contracts that are carried out outside the system.

]]> http://www.bitful.com/2002/10/30/tax/comment-page-1/#comment-193 Ian Wed, 30 Oct 2002 03:52:00 +0000 http://www.bitful.com/wordpress/?p=278#comment-193 Never thought to be saying this to an Italian, but our tax system sounds a lot more relaxed than yours does... As a "sole trader', you don't need to do anything other than declare the income (net of expenses) on your tax form at the end of the year (and some would question the need to do that). If you're going to make a substantial income from this, though, you should consider registering for VAT (check the HM Customs and Excise site for current minimum earnings; I'd guess 20k+ a year.) An accountant would advise you to open a separate bank account for your business, but I think that's overkill; just keep a fairly clear record of what you've been paid (and what you've spent on expenses - or what you could convincingly claim are expenses). Oh, and don't make your first invoice 001 unless you don't mind your client knowing this is your first job - my first invoice in my current business incarnation was 5001, Never thought to be saying this to an Italian, but our tax system sounds a lot more relaxed than yours does… As a "sole trader', you don't need to do anything other than declare the income (net of expenses) on your tax form at the end of the year (and some would question the need to do that). If you're going to make a substantial income from this, though, you should consider registering for VAT (check the HM Customs and Excise site for current minimum earnings; I'd guess 20k+ a year.) An accountant would advise you to open a separate bank account for your business, but I think that's overkill; just keep a fairly clear record of what you've been paid (and what you've spent on expenses – or what you could convincingly claim are expenses). Oh, and don't make your first invoice 001 unless you don't mind your client knowing this is your first job – my first invoice in my current business incarnation was 5001,

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