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Can a company pay me as a legal entity? or do i have to be a registered company as well?
I did a job as a consultant and the company is asking that, for tax purposes, I present my invoice as a business. I thought I can just be paid directly since I am a legal entity.
Can someone please help me clarify this?
I live in London, and I just started freelance consulting work from home.
Eventually I know I will have to register a business name. But the issue right now is for this job I've already done.
3 Answers
- 1 decade ago
If you're a consultant then how can you do business without an office? do you work from home? What consultants usually do is register a company and practice under tis name, this will make the paper work much easier as in your case, besides, owning an office would make you more accessible to your clients and give you more credibility as a consultant, you don't need to have a big office, just a small office with a secretary to answer the phone calls when you're not in.
- 1 decade ago
Not sure what they mean by presenting your invoice as a "business." They may mean that they need a Tax ID number so they can issue you a 1099 at the end of the year.
There are several business types: sole proprietorships (which is likely what you are), partnerships, limited liability companies, and corporations. If you're a sole proprietorship, your Tax ID number would be your Social Security Number. Maybe if you just tell them you're a sole proprietorship and give them your SSN, it'll suffice.
