OT advice sought re going self employed

[SIMMO SAYS]

A long working day then Simmo??
Which cafe do you go in?

Cafe of choice is the one opposite The Station in Portland Road - Hove-----can have a haircut next store if timed well

 

[LamieRobertson]

Cafe of choice is the one opposite The Station in Portland Road - Hove-----can have a haircut next store if timed well

whats a haircut?

 

[SIMMO SAYS]

we must meet up after a game for a pint on a saturday

Anytime mate

 

[upthealbion1970]

Do you get the jobs booked for you, and are the jobs local?

Jobs are booked for me 3 or 4 per day as close together as is possible and I can get my own work too if I want to.

It all seems a bit too good to be true tbh, but I'm out with the owner this morning on a job to have a look at how it all works so will report back later

[emoji41]

 

[upthealbion1970]

Having spoken to the owner today he is friends with a certain henfield based NSCer who advised him to set this business up some years ago.

Waiting on "the" call to say they want me, my gut feeling is its going to be positive and if it is I'm going to take the plunge after seeing what it's about

Thanks so much for all the advice to everyone who's responded

 

[Bozza]

Oven cleaners are amazing. We were in a rented property earlier this year and the oven was really grotty. Called a bloke out and for £60 or so (I can't remember exactly how much) he had it looking like new. He even replaced the bulb in the oven - we didn't even know it had a light until that moment.

He was so good, we called him out when we moved into the house we'd bought about a month or so ago. Again, he did an amazing job and this oven, once again, looks it's only just been fitted and yet to be used.

 

[Official Old Man]

I'm self employed running a business with turnover of £250,000 Paperwork is the worst part of the job. I keep a simple spreadsheet of income / expenses which I then transfer to the Simplex 'D' Account Book. Once a year I hand this to my accountant who does my tax & NI for a fee of £150. Remember to claim for everything, tools, petrol, uniform and works clothing. Don't forget to inform HMRC straight away as you have to pay self employed NI monthly.

 

[Herr Tubthumper]

Oven cleaners are amazing. We were in a rented property earlier this year and the oven was really grotty. Called a bloke out and for £60 or so (I can't remember exactly how much) he had it looking like new. He even replaced the bulb in the oven - we didn't even know it had a light until that moment.

He was so good, we called him out when we moved into the house we'd bought about a month or so ago. Again, he did an amazing job and this oven, once again, looks it's only just been fitted and yet to be used.

Your comment about the light reminds me of a friend who got a plumber in to install a power shower as he was finally fed up with the weak pressure of the existing unit. Plumber looks at the old unit, then opens a panel to reveal a power shower button. My friend had lived in this property for about 8 years without knowing he already had a power shower

 

[trueblue]

So, judging by comments here, 'Self Employed' seems to be a bit of a metaphor for 'Tax Avoidance', or is that evasion?

It has tax advantages, which is a different thing. But unlike a lot of employment it doesn't have a pension, paid holiday, medical insurance, death in service insurance, job security, travel perks etc etc and it isn't 9-5. So there are pros and cons on both sides.

 

[Superphil]

It has tax advantages, which is a different thing. But unlike a lot of employment it doesn't have a pension, paid holiday, medical insurance, death in service insurance, job security, travel perks etc etc and it isn't 9-5. So there are pros and cons on both sides.

My job doesn't have a pension, I pay into one myself. My job doesn't provide medical insurance, I have my own healthcare policy. I certainly don't have any death in service insurance in my job, do any small businesses in the private sector have this? Job security is never a given in a small business, if I don't perform, I'm out of the door. 9-5, not a chance. Paid holiday seems to be a benefit, but a fistful of tenners on VAT claimed back would soon see to that. Think I might look into going self employed.

 

[trueblue]

My job doesn't have a pension, I pay into one myself. My job doesn't provide medical insurance, I have my own healthcare policy. I certainly don't have any death in service insurance in my job, do any small businesses in the private sector have this? Job security is never a given in a small business, if I don't perform, I'm out of the door. 9-5, not a chance. Paid holiday seems to be a benefit, but a fistful of tenners on VAT claimed back would soon see to that. Think I might look into going self employed.

Sounds like you should. I don't personally get fistfuls of tenners for anything - operate completely within the law - but each to their own.

 

[Brighton TID]

Yes its that simple, save your receipts (and your tax money) do a return online (its very straightforward) No real need for an accountant unless the cost is reasonable.
If you have any capital equipment you can make an allowance separately. Worth registering your home address as business address so you can claim legitimate business travel and also claim a portion of house expenses as home office. don't forget that you will have to pay 50% towards the following years tax when you make your first return and make sure you register within 3 months of the first self- employed day or you will get an automatic fine, good luck with it (don't give away 60% of your income for too long

Could you please explain why you have to pay 50% for your following year's tax before you have made the profit?

 

[LamieRobertson]

Could you please explain why you have to pay 50% for your following year's tax before you have made the profit?

Because the inland revenue say so

 

[upthealbion1970]

Oven cleaners are amazing. We were in a rented property earlier this year and the oven was really grotty. Called a bloke out and for £60 or so (I can't remember exactly how much) he had it looking like new. He even replaced the bulb in the oven - we didn't even know it had a light until that moment.

He was so good, we called him out when we moved into the house we'd bought about a month or so ago. Again, he did an amazing job and this oven, once again, looks it's only just been fitted and yet to be used.

Was it Oven Heaven?

 

[OzMike]

I've been self employed since 1989 and the wife is a partner in the business, that helps with the old tax burden.
I used to be heavily manual laboured.
Having spent a good amount of years in industry, I am now a sub contractor to three local businesses and it is good to get paid for what I know, instead of sweating the proverbials off.
To get the turnover that I am getting now, using the old way, would mean that I would have to work 18 hours a day, for 7 days.
I still work a 9 - 10 hour day but get weekends and the rest of the time to myself.
So self employment is the way as far as i am concerned.

 

[Scunner]

Oven cleaners are amazing. We were in a rented property earlier this year and the oven was really grotty. Called a bloke out and for £60 or so (I can't remember exactly how much) he had it looking like new. He even replaced the bulb in the oven - we didn't even know it had a light until that moment.

He was so good, we called him out when we moved into the house we'd bought about a month or so ago. Again, he did an amazing job and this oven, once again, looks it's only just been fitted and yet to be used.

Sounds good - need one at the moment, can you PM me the details please Bozza? Ta

 

[upthealbion1970]

Sounds good - need one at the moment, can you PM me the details please Bozza? Ta

Give me a couple of weeks and i'm your man

 

[Del Fenner]

I've been self- employed since 1983 but I don't understand this word TAX you keep on about.

I got some dude called HMRC bugging me over some scam I got caught by a few times, but I told him I wasn't renewing this year.

 

[Vegas Seagull]

whats a haircut?

Somewhere we'll all end up, not for a good while hopefully

 

[Questions]

I got some dude called HMRC bugging me over some scam I got caught by a few times, but I told him I wasn't renewing this year.

Self assessment ? I assess myself and decide that there is very little to pay. Christ if I left it to them......