Consultancy work in Excel

[ExcelWhizzDotCom]

Hi guys,

After a bit of advice if anyone is able to help it would be greatly appreciated.

I'm UK based and work full time for an employer. Separately, a university have asked me to work on a project for them building some forms, etc in Excel and will pay me for it. I've never done consultancy work before and can't find much online to help me...

Just want to know how to sort out the legalities of it? Clearly I need to pay tax on the earnings but how and when do I declare it?

 

[AliGW]

Would it not be wiser to consult your accountant?

 

[ExcelWhizzDotCom]

Perhaps if I had one.

I'm just a mere mortal who has only ever worked for other people before.

But thanks for your advice.

 

[mole999]

You can retain one for 30-40 a month, and since I think I heard there will be four accounting periods during the year for HMRC it could be worth investing in, provided you are actually making a profit, gets dodgy if your employed and working on the side as you move your tax position. If you work for the university, then they could pay you a wage maybe and then declare the income and tax directly