Accounting and invoicing for management consultants
Strategy projects, process consulting, restructuring and support over months: management consultants bill by the day, by project phase or with success shares and have high invoice amounts with long payment terms. Saldiqo issues stage invoices by phase, records travel costs and reminds on open invoices.
What comes up for management consultants
High amounts, long terms
Consulting invoices are large and paid after 30 to 60 days. Payment receipt and reminders decide liquidity.
Phases and success shares
Analysis, concept, implementation: each phase has stage invoices. Some fees depend on the result.
Travel and expenses
Travel costs and accommodation belong to the invoice and are reimbursed against receipts.
How Saldiqo helps
- Stage invoices by phaseQuote, stage invoices, final invoice.
- Day rates with time trackingRecord days and take them over as a line.
- Re-invoice travel costsReceipts as expenses, line with the receipt.
- Reminders on long termsKeep open invoices in view.
Typical invoice lines
Examples that often appear on invoices in this industry. You set the prices yourself.
- Strategy consulting, 8 person days
- Project phase 2: concept, stage invoice
- Success fee as agreed
- Travel costs as per receipt
- Workshop for the management team, full day
- Final report and presentation
Tax and invoicing in the UK
What applies to invoices in the UK, in short. As of October 2026.
- VAT
- Standard rate 20 %, reduced rate 5 % and zero rate 0 %. Saldiqo calculates each invoice line with the rate you pick.
- VAT registration
- You must register once your taxable turnover passes £90,000 over any 12 months, or you expect to pass it within the next 30 days. You can deregister below £88,000. Until you are registered, your invoices show no VAT, and Saldiqo adds up your 12-month turnover for you.
- What goes on an invoice
- If you are VAT registered: your VAT number, the tax point, unit prices and the VAT total in pounds. A limited company shows its registered name on every invoice, and its company number, registered office and part of the UK on letters, order forms and the website.
- E-invoicing
- There is no mandate today. From April 2029 e-invoicing is planned for all B2B and B2G sales that carry VAT, through Peppol. The exact date and standard are not yet in law, and the government’s roadmap follows with the Budget on 28 October 2026.
- VAT returns
- VAT returns go to HMRC through Making Tax Digital, usually quarterly, due one month and seven days after the period. Saldiqo shows sales and VAT per rate and exports CSV. It does not submit to HMRC, and for Making Tax Digital you need software recognised by HMRC.
- Record keeping
- Keep VAT records for 6 years.
- Late payment
- Statutory interest on late business payments is the Bank Rate (3.75 % in the second half of 2026) plus 8 points, so 11.75 %. On top comes fixed compensation of £40, £70 or £100, depending on the amount owed (under £1,000, from £1,000, from £10,000). Consumers have no statutory interest.
- Getting paid
- Your sort code and account number are on every invoice. Customers pay by Faster Payments or Bacs, and banks check the account name with Confirmation of Payee. There is no QR standard in the UK.
Frequently asked questions
How do I bill projects in phases?
With a quote, stage invoices per phase and a final invoice that deducts them.
How do I treat a success fee?
As a separate line with the amount as agreed and evidence in the description.
Do management consultants in the UK have to charge VAT?
Only once they are VAT registered. Registration is required when taxable turnover passes £90,000 over any 12 months, or is expected to within the next 30 days. Below that you may register voluntarily. If you are not registered, you must not show VAT on your invoices.
Do management consultants in the UK need e-invoicing?
Not today. A mandate for B2B and B2G sales with VAT is planned from April 2029, and the details were still open as of October 2026. You can keep sending PDF invoices for now.
How long should management consultants keep invoices?
Keep VAT records for 6 years. You can store receipts digitally in Saldiqo. The legal duty to keep records stays with you.
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As of October 2026. General information, not legal or tax advice, without guarantee. For your case ask your tax adviser.