Invoicing

Getting Paid On Time

The key part of getting freelance work is actually getting paid within a realistic time-frame. Unfortunately lots of companies can view freelancers as the last people on the list to get paid. It’s frustrating but another reason why going through an agency means the rent/mortgage gets paid on time.

We handle invoicing for over 80 freelancers each month. One of the key ways to remove financial headaches and paperwork piling up is to use a cloud-based accounting system. At Frame 25 we recommend Xero – a very reliable, simple and capable piece of software to store and track invoices whilst reconciling your bank transactions. When setup properly you can have a VAT or Tax Return completed in a click of a button.

Invoices should always be submitted in .pdf format.

Candidate/Company Name
Invoice Number
Date
Address
VAT number
UTR Reference
Payment Terms
Bank Details

Payment terms
We work to a 14 day payment term with our freelancers and normally aim to pay within half of that time.

Rates
Each assignment or booking is working to a different budget and therefore rates will vary. There is a rough guide on the Bectu website, rates are also determined by length of booking, experience required and urgency of booking.

VAT
Being VAT registered is a legal obligation for turnover of more than £75k. You are then liable to pay VAT at the end of each quarter in a VAT return. VAT can also be reclaimed through the flat rate scheme more info can be found here

Useful Links

Xero – questions answered
http://www.xero.com/uk/accounting-software/

Invoice Templates
http://www.selfemployeduk.org.uk/guide/how-to-create-self-employed-invoice-template-5steps/

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