Hi,
I have a PAYE "day job" but am also building up a commission-only income with a network marketing company. I've registered with the IR as a sole trader although I'm not actually trading as such (I gather customers but they don't pay me - they pay the network marketing company I represent & the company then pay me commission).
I have 2 questions. Firstly was I right to register as a sole trader rather than form a Ltd. company (my income is only around £2000 per year) and when should I consider incorporation (ie. at what level of income).
Secondly I understand that if I register for VAT in order to claim back the VAT on my business expenses, I'd have to raise invoices for my commission coming in. Can I raise these invoices after I get paid? The reason being I have no way of knowing the amount of commission until after it is paid, as it's based on a percentage of customer phone and utility usage. Thanks for any help.
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