Freelance Programming and Full Time Job options?

[davetherave2]

Not sure if this is the best sub-forum to post in but felt it was probably most appropriate due to the nature of the topic.

So I am currently employed in a full time job but over recent months have been building a website for a friend of mine as a favour and also testing out new skills that I have learnt.

So up till now I haven't charged anything for the work I have done but the intention was always to start paying me once the site was up and running for maintenance, upgrades/features , server costs etc.

With the site now close to going live it is time to start thinking about rates etc for the work.

In addition to this the site I have built has the potential to be used by other clients. So now I am getting into a whole other kettle of fish as I could have potentially 30 paying clients within a short space of time. Although not enough work that means I could leave my job to work on this full time.

So I now need to start thinking about protecting myself and ensuring that everything is declared correctly.

So I guess what I am asking for is just some pointers on where I should go in terms of pursuing the freelance work and is setting myself up as a ltd the best option or would self assessment be the best way to go on this?

This is not only exciting but also terrifying at the same time for me.

Thanks in advance for any help given.

 

[Hyburnate]

Setting yourself up as a limited company isn't the best move, you would be best going as a sole trader. But what you've really got to ask yourself, is the work out there? What have you been doing, designing and coding or just the latter?

 

[davetherave2]

I have done a basic design as it needs to be simple and have done all the coding behind it.

The system I have developed is fairly niche in it's nature but has the potential to grow into a bigger product moving forward.

With knowing that there isn't enough work out there at the moment for me to do this full time I need to keep my current job and continue working on this product as and when I can outside of normal hours.

We have discussed between ourselves that the concept is theirs and the code is retained by me which I guess I need to get put in writing etc.

Although I am driving the product development my friend is in the position to help push the product forward and present it to new clients so would be expecting a percentage of any profits made so I guess I would have to employ them or would setting up a partnership be the best bet in this scenario?

 

[UK-AL05]

Setting yourself up as a limited company isn't the best move, you would be best going as a sole trader. But what you've really got to ask yourself, is the work out there? What have you been doing, designing and coding or just the latter?

What? Setting yourself up as limited is really easy. You can do it online in 10 minutes. Then a few hundred pounds a year for an accountant for a very simple business.

For the added benefit of limited liability, and perception(ltd is seem more professional) its a no brainer.

 

[elrasho]

I have done a basic design as it needs to be simple and have done all the coding behind it.

The system I have developed is fairly niche in it's nature but has the potential to grow into a bigger product moving forward.

With knowing that there isn't enough work out there at the moment for me to do this full time I need to keep my current job and continue working on this product as and when I can outside of normal hours.

We have discussed between ourselves that the concept is theirs and the code is retained by me which I guess I need to get put in writing etc.

Although I am driving the product development my friend is in the position to help push the product forward and present it to new clients so would be expecting a percentage of any profits made so I guess I would have to employ them or would setting up a partnership be the best bet in this scenario?

When you say products do you mean you've created a Web design product like a CMS or is a product someone else has made and you're going to sell it exclusively on your website?

EDIT: NVM re-read your post, it's your code. In that case I wouldn't risk leaving your secured FT job to pursue some bespoke code you've created. There's no security in it, stick to doing it after hours