I am hoping that the people on this site could help me with some questions I have regarding self employment. Unfortunately I am in this position not out of choice, following a year of an extremely turbulent relationship with my employer I have was shown the door last friday and am now trying to pick up the pieces and forge ahead.
Fortunately a good friend of mine whom has been asking me to go and work with him for many months now has given me work. We have agreed a weekly wage but this will be on a self employed basis. May I ask how this works because I am completely in the dark regarding self employment.
Do I have to raise an invoice for the amount he is paying me on a weekly basis for my own accounts. I no I have to pay NI contributions which I have set up on a direct debit and I have to withhold 20% of my income for tax, other than this I havent got a clue how it all works.
I am also applying to be a kitchen fitter for a well known kitchen supplier, on the application form they ask for £2,000,000 liability insurance with HEAT. I have to supply all the neccasary certificates for the Gas Safe plumber I am using and the Sparky I will be using. But I don't understand why I need liability insurance with heat, because I am not doing anything with "heat" furthermore when I spoke to the insurance company and informed them that I would need cover with heat they ask to what percentage of my cover would I need HEAT. I am confused?
Can anybody shed any light on this Heat issue and give me advice on the above.
Thank you very much indeed.
Fortunately a good friend of mine whom has been asking me to go and work with him for many months now has given me work. We have agreed a weekly wage but this will be on a self employed basis. May I ask how this works because I am completely in the dark regarding self employment.
Do I have to raise an invoice for the amount he is paying me on a weekly basis for my own accounts. I no I have to pay NI contributions which I have set up on a direct debit and I have to withhold 20% of my income for tax, other than this I havent got a clue how it all works.
I am also applying to be a kitchen fitter for a well known kitchen supplier, on the application form they ask for £2,000,000 liability insurance with HEAT. I have to supply all the neccasary certificates for the Gas Safe plumber I am using and the Sparky I will be using. But I don't understand why I need liability insurance with heat, because I am not doing anything with "heat" furthermore when I spoke to the insurance company and informed them that I would need cover with heat they ask to what percentage of my cover would I need HEAT. I am confused?
Can anybody shed any light on this Heat issue and give me advice on the above.
Thank you very much indeed.