Self employed working with colleague

dmxdave

I have been made redundant and am going self employed. A colleague who also has his own business has offered me some work, he is also self employed working on his own.

My question is if he has a job on and I help him with it do I just invoice him for my time? We are both registered as self employed and responsible for our own tax and NI.

MyRubyRed

My view is that you'd invoice him for your labour(which should include tax/NI/) plus a mark up for overheads and profit

Llyllyll

dmxdave wrote: »

I have been made redundant and am going self employed. A colleague who also has his own business has offered me some work, he is also self employed working on his own.

My question is if he has a job on and I help him with it do I just invoice him for my time? We are both registered as self employed and responsible for our own tax and NI.

Simply being registered as self employed (and calling yourself self employed) does not always make it so. For further info you could look here: http://www.hmrc.gov.uk/employment-status/index.htm and run through this tool: http://www.hmrc.gov.uk/calcs/esi.htm.