Self employed, subcontractor..

[king 11,672]

Ive decided to go cis subcontractor..So contractor takes 20% tax..so it's down to me to pay national insurance ? 

He's said to me about claiming 45p a Mile for commuting.

So do I keep all my fuel receipts from the garage..

And note down my weekly mileage etc..

I've never been self employed before so any info would be great  

 

[martyn2233 2,257]

You pay your own national insurance 

yes claim mileage back so take note of start mileage and end of week mileage keep receipts for tools clothes ppe etc

[shaaark 10,198]

4 minutes ago, king said:

Ive decided to go cis subcontractor..So contractor takes 20% tax..so it's down to me to pay national insurance ? 

He's said to me about claiming 45p a Mile for commuting.

So do I keep all my fuel receipts from the garage..

And note down my weekly mileage etc..

I've never been self employed before so any info would be great  

 

Good luck with it, kingy

[iworkwhippets 12,247]

You don't have to have one mate, you can see to.things yourself, but I would consider an accountant 

[keepdiggin 9,304]

I’d rather be on the books king holiday pay and sick pay and more security.

[keepdiggin 9,304]

@foxdropper you not agree?

[foxdropper 17,092]

Nah feck that KD .Being told what to do and when to do it ,when to clock off ,nah not for me .Started as a subby on site and soon thought this isn’t making money it’s surviving .

Take no notice of the fuel it takes to get to work King .You’ll be paid that on a known mileage from yard within a radius measurement .

Keep all your receipts for fuel and the wife’s as long as same fuel .Tools ,cloths and claim for a room in your house as an office .Accountant will advice but if your working for a company you might not need one as your self assessment will be easy .Just copy running totals off your CIS  emails .

legally you still arnt allowed to work for a company stopping your tax at 20 % for any one straight twelve month .Ask them about that as you may need to be paid by a director etc for a break in contract .

Good luck Dean and hope your hourly flies up to suit the role .

[NEWKID 26,359]

Keep receipts for everything you buy, it offsets your tax and can be very useful at end of year, there are some decent and easy to use accountancy apps, Xero is the one we use, you can photograph your reciepts and it instantly uploads, raise your invoices on it etc.. you would only need a very basic version and it aint a lot per month (around £15 I think) but keeps everything tidy.... I've been self employed since I was 19 and have always used an accountant, as said you don't have to but I think a decent one saves you more than they cost... Mine now is a wizard, I have no idea at times what he is on about but he is 70 odd now and what he don't know about "dodging" aint worth knowing/... lol

Good luck mate, it's a good time in the buildings, don't be too cheap as there is still money out there, get your payment terms right from the start (don't get pushed into long payment terms, we are getting 14 days more thah ever now and worst 30 days... I won't do a job on more than that, I'm not their bank!!)

 

[foxdropper 17,092]

3 minutes ago, keepdiggin said:

@foxdropper you not agree?

Fors and against both of it mate .My time as a subby was boom time .Earnt enough in 3 days to take two off and go digging back then,out with the East  Devon .

Unless the increase in wage is huge Id probably stay PAYE  now in this climate if in Kings position .I was never good at taking orders but good at giving them lol.

Subbies nowadays seem to want a long stay somewhere rather than flitting about like we used to .

I have two long term subbies that are paid by the customer from time to time just to get the break in contract .

Neither of them want to go PAYE .

[foxdropper 17,092]

5 minutes ago, NEWKID said:

Keep receipts for everything you buy, it offsets your tax and can be very useful at end of year, there are some decent and easy to use accountancy apps, Xero is the one we use, you can photograph your reciepts and it instantly uploads, raise your invoices on it etc.. you would only need a very basic version and it aint a lot per month (around £15 I think) but keeps everything tidy.... I've been self employed since I was 19 and have always used an accountant, as said you don't have to but I think a decent one saves you more than they cost... Mine now is a wizard, I have no idea at times what he is on about but he is 70 odd now and what he don't know about "dodging" aint worth knowing/... lol

Good luck mate, it's a good time in the buildings, don't be too cheap as there is still money out there, get your payment terms right from the start (don't get pushed into long payment terms, we are getting 14 days more thah ever now and worst 30 days... I won't do a job on more than that, I'm not their bank!!)

 

I think Kings position will be very straight forward unless it’s a ruse to get rid of him .

No expenditure bar fuel and cloths ,email invoices from template .

[keepdiggin 9,304]

Just now, foxdropper said:

 unless it’s a ruse to get rid of him .

 

That’s what I was thinking 

[NEWKID 26,359]

1 minute ago, foxdropper said:

I think Kings position will be very straight forward unless it’s a ruse to get rid of him .

No expenditure bar fuel and cloths ,email invoices from template .

I expect so mate, but I think the tidier you are at the start the good habits stay. If he takes on a small one with a few materials he is set to deal with it correctly, if he subs a bit of work out and skims off the top he has an easy to use system to deal with it.

My sister in law does all our book keeping and we'd be lost without her, but I realise it's different when you employ a few lads, office etc... I need a tidier upper around me, so if there are easy to use systems in place happy days... I still get bollocked most months for going rogue and phone ordering something and not logging it against a job... never really the boss when a woman's involved!! lol

[foxdropper 17,092]

13 minutes ago, NEWKID said:

I expect so mate, but I think the tidier you are at the start the good habits stay. If he takes on a small one with a few materials he is set to deal with it correctly, if he subs a bit of work out and skims off the top he has an easy to use system to deal with it.

My sister in law does all our book keeping and we'd be lost without her, but I realise it's different when you employ a few lads, office etc... I need a tidier upper around me, so if there are easy to use systems in place happy days... I still get bollocked most months for going rogue and phone ordering something and not logging it against a job... never really the boss when a woman's involved!! lol

That’s what a secretary is for mate .Christ knows what she does all day but everything’s in order ?

My wife used to do mine when I was a sole trader and I used to hand her a screwed up pile of receipts every month lol.

Still have an accountant but she she comes to us rather than vice versa .Don’t pretend to know how our tax is worked out just that it’s a fecking whack each year .A sole  trader will get rebates every now and then due to overpay of tax on account with hmrc whereas we don’t .Ours is worked out to the f****n  penny .

[Borr 4,532]

I'm Cis, pay an accountant £250 a year, I don't do  milliage I do percentage of fuel receipts, £250 is well worth it for accounts,mine is by the book but they claim up to all the limits on minor costs, you can claim for equipment brought to the job before you were self employed and this only needs to be an estimate receipts not required, you've got three months to set up cis from when you start. It's fairly easy some companies pay grosse so be prepared to put some away or make a substantial purchase for the books, if you pay hotels etc then this goes a long way towards tax. Try and bounce around pushing for higher rates , a commercial vehicle is 100% deductible where as a non com is about 30% , but at the end it's only a small amount, focus on your hourly rate, hours and keep costs down , you won't get rich off the back of tax deduction, as cis you're unlikely to have anything other than a tax rebate as opposed to a tax bill if you're LTD.

[tatsblisters 8,068]

I was on the SC60 In the 90s hod carrying after advice i got an accountant who got me tax back like KD said i honestly think especially if you are working for a middleman you are better off on the books. The place i work now most of the van driver's work for a middleman who pays them 100 a day and they pay their own tax and NI some of them pay none but it will catch up with them eventually i know they moan like feck to me as some of them are out 12 and 14 hours a day that pay does not even give them minimum wage.