Income declaration - outgoing bills or actual payments received?

todd

12 Jan 2012 at 10:31 · Viewed 1736 times

Hi Valerie, when I make my quarterly declarations do I list the total amount of the bills I have issued for the months of January, February and March, or do I list the actual amount paid into my account by my clients during those months. I get payed 6 weeks after the date of invoice, so the income that goes onto my account in January is actually the bill I sent out in November.

Also, before declaring my revenue, what percentage may I take off the gross amount billed for social and other charges?

Thanks again!
Lynda

Answered