New to self employment. Any tips for Day 1?

[rtbcomp]

Was he living the good life himself after his company went ? Ive seen that a couple of times. As in they've made sure they were ok financially before the LTD went pop

No, he got a job as a white van man for a while and then back into engineering as an employee. It wasn't a deliberate action, just a legacy of Mrs T Ooops

 

[Gwil]

A good word for the tax man- I always found their Self Assessment helpline to be helpful, friendly and able to answer any question, however obscure.

 

[ajlelectronics]

Usual question about how much tax to pay...

How much did you take last year?

How much did you spend last year?

What is the difference?

Send it.

 

[postie jon]

demand to speak to the boss & negotiate a pay rise,if no deal then down tools..........

 

[JLP]

demand to speak to the boss & negotiate a pay rise,if no deal then down tools..........

That's one sure fire way of getting told where to go in two short, sharp words

 

[roofman]

After 30 years employed with PAYE, pension, healthcare etc I find myself looking at a new future as a self-employed instructor.
Having never done anything like this before I was hoping someone could give me a few pointers as to what I should do from the start with regards to registering, tax, National Insurance etc.
To be honest, I'm a bit out of my depth!
Cheers
Rob

Yea go back to working for someone and sleep at night

 

[vbottles]

Try all you can to find a second contract/employer. As my other half works self employed and keeps being told hmrc are starting to look at self employed workers with single contract/employers. As its the contract/employer avoiding NI. Paye. Which could impact down the line.
Andrew

 

[JLP]

Try all you can to find a second contract/employer. As my other half works self employed and keeps being told hmrc are starting to look at self employed workers with single contract/employers. As its the contract/employer avoiding NI. Paye. Which could impact down the line.
Andrew

You can get away with 2 years as a temporary place or if your employed through an agency to do the work*

* don’t quote me - it’s just what my accountant said

But you are correct, new IR35 laws come into effect from April next year that will either make your life great or hell dependant on what the company your working for decides is best for them. Best to do some reading on that as I can’t explain it to save my life