I have a full-time job as a design engineer in the electronics industry, and I've been offered a bit of consultancy work by a company needing a circuit board redesigning.

I'd quite like to take the job on - it's probably going to be a few weeks' worth of evenings and weekends, which should top up my beer money jar a bit - but I've no idea what the 'right' way is to go about it in terms of keeping it all legit and protecting myself. ("Cash in hand" is not an option).

Can I just invoice the client and declare the extra income on a tax return?

Has anyone got a sample contract I could look at and maybe borrow from, which would help define who owns the resulting IP and protects me from liability if something goes wrong?

Any other pitfalls I should be aware of which might help me decide whether or not the job is worth it?

Ta
Andy

 

You'll need to get clearance from your current employer before taking this work on.
You'd also need liability insurance to cover you in case it went **** up.

 

as far as tax is concerned it's pretty straightforward

you will need to fill a tax return - very quick online and 90% done with the details supplied with your P60, then you just put in the cash you have been paid/invoiced

the online IR software works out your tax liability