Sole Trader - Invoices

energetikk · 15 March 2018 at 4:53PM

Hello, I have a fairly simple question - yet I did not receive a response from HMRC about what to do. I have been a sole trader for two years now but have only sent a few invoices only (since I charge international customers a small amount of money for a subscription). Do I have to mandatory send an invoice for every income I get as a sole trader and if so - where can I find more information about what penalties apply if I do not do that?

Thanks in advance!

00ec25 · 15 March 2018 at 7:45PM

no you do not have to send an invoice

obviously...
a) your customer should want "something" against which to make their payment, but if they are happy with an e mail then send then that
and
b) you must maintain some sort of record of your income. The cash received per the bank statement is the key records of that, but a nice set of sequentially numbered invoices would be the icing on the cake

BTW, why are you so against raising invoices? There are alternatives anyway, just look at what the businesses selling online do.

https://www.gov.uk/self-employed-records

energetikk · 16 March 2018 at 8:30AM

Hello and thank you so much for your response. It might seem irresponsible but I never knew about invoices until a month ago until I did a piece of work for a website (they requested it).

I am using cash-basis accounting by all means. It is a good idea for me to have a look about what businesses online are doing as well. I really appreciate the idea!

Sole Trader - Invoices

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free