The first thing I did before collecting any money was set up a separate bank account. I got another Fast Saver, which is currently offering 7.75% interest per annum. This way I can earn a little interest on my tax before I have to pay it out at the end of the month.
At the end of last week I sent out my first invoice, and received my first bill payment. I used the online PAYE calculator at PAYE Calculator 2008 to calculate my income after tax. I then removed that amount from the business account, leaving the PAYE and GST in there for later payment. This means there is no chance of missing a tax payment, as I have kept the money aside.
I’ve also been printing out everything (invoices, tax calculations, bank statements showing income and payments) and putting it aside. This should make it easier for me to organise everything when it comes time to pay my taxes. I have asked an accountant (a very helpful family friend) for a bit of advice as to what I should be doing too, and he is doing a bit of research for me.
On the actual work front, everything has been going great so far. Gareth has been very helpful in getting me up to speed on the code base. I’m currently working on a formatter for TSQL code. I’ve written a bunch of new code, as well as refactored old code to make it easier to modify. I am also creating a unit test suite to make sure I don’t break anything. My next major task is to incorporate a whitespace insensitive text diff into our tests - this way I can run the code through the formatter and make sure it hasn’t removed anything important. Since there is a huge amount of TSQL code to work with, I can just run the formatter over it and throw the before and after code at the diff. If anything gets broken, the diff will pick it up.