Self employed, subcontractor..

[king 11,666]

1 hour ago, keepdiggin said:

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

I could get the start tommorow on the books mate..but it would mean working away which I don't want to do..going on the books in the local quarrys is terrible money or the local small plant firms is shit money on the books..better money self employed..the money increase would more than cover holidays if I was on the books mate..I'm basically on the north wales border..so hardly any big construction jobs going on near me etc.. 

[DIDO.1 20,951]

My first accountant was fantastic. A little old Jewish bloke. Sat in a broom cupboard doing tax returns and chain smoking cigars, he hated anyone paying tax. He eventually died of lung cancer. He always told me not to pay invoices....always wait for the reminder and pay then. That was the only thing I didn't take his advice on....I always pay invoices as soon as they arrive. That is until I heard he was ill, I didn't pay his invoice and I waited for the reminder that never came, in fairness I sent my condolences at his funeral. 

I like to think he was smiling as he looked down on me....i doubt it though

True story that

Edited June 19, 2023 by DIDO.1

[brambles 3,062]

It's called Self Assessment for a reason no need for an accountant, waste of £350, they've already got your tax money, your only claiming your expenses back, which should cover you holiday pay, I've been on it 40 year between 714, sc60 and now cis4

[Borr 4,513]

2 hours ago, tatsblisters said:

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.

I think that's a good point , But you have to allow to give yourself a month off a year , pay for insurances that cover you in case of accident or sickness. I often work alongside lads on the books and they think I'm better off ... But they get holiday/sick pay/ company vehicle, hotels paid , food allowance, etc at the end of it I get a bit of freedom and don't feel I'm fully immersed in the 9/5 drag, it suits me but it's just another job really although you do escape the Communists a bit and there's some real characters in the game , it can get tiring being away , I've been lucky this last year and have been local with last three jobs ....

Edited June 19, 2023 by Borr

[tatsblisters 7,971]

1 minute ago, Borr said:

I think that's a good point , I wouldn't work for less than 25ph self employed and obviously aim a lot higher. I've earned more than that on the books with holiday and pension although often jobs in my industry rarely last more than 3 months . But you have to allow to give yourself a month off a year , pay for insurances that cover you in case of accident or sickness. I often work alongside lads on the books and they think I'm better off ... But they get holiday/sick pay/ company vehicle, hotels paid , food allowance, etc at the end of it I get a bit of freedom and don't feel I'm fully immersed in the 9/5 drag, it suits me but it's just another job really although you do escape the Communists a bit and there's some real characters in the game , it can get tiring being away , I've been lucky this last year and have been local with last three jobs ....

These i refer to are self employed white van delivery drivers who work for a middle man tbh i think some of them put up with the shit money because the job gives them that bit of freedom once they are out on the road also none of them i talk to are not paying into any sort of pension pot which if they were on the books they would get stopped 5% on a work placed pension and the company would pay 3% into it.

[Borr 4,513]

10 minutes ago, tatsblisters said:

These i refer to are self employed white van delivery drivers who work for a middle man tbh i think some of them put up with the shit money because the job gives them that bit of freedom once they are out on the road also none of them i talk to are not paying into any sort of pension pot which if they were on the books they would get stopped 5% on a work placed pension and the company would pay 3% into it.

Well as far as I can gather the failed ir35 system was brought in thanks to the likes of Amazon paying their drivers crap money and it's gonna lead to thousands of people with zero contributions or pension, not that I have a pension . Self-employed is to suit shorter contracts not full time permanent jobs like delivery driving , i know places are struggling to get people on ir35 as you're immediately hit with 40% tax and they're better off elsewhere. 

[Chid 6,377]

1 hour ago, tatsblisters said:

These i refer to are self employed white van delivery drivers who work for a middle man tbh i think some of them put up with the shit money because the job gives them that bit of freedom once they are out on the road also none of them i talk to are not paying into any sort of pension pot which if they were on the books they would get stopped 5% on a work placed pension and the company would pay 3% into it.

You can choose not to pay in to a workplace pension 

[foxdropper 17,092]

8 minutes ago, Chid said:

You can choose not to pay in to a workplace pension 

Silly not to though mate .Unless a chap has property rented or fleet of vintage cars to sell off everybody needs a pension that’s aiming to live beyond retirement age .I started an easy build pension in late eighties that now pays out a  decent enough chunk to live life to the full.Always wanted to retire at 55 but didn’t work out that way .No pension means working til you can’t work no more without assets .Tbh it’s a waste of time in later life but start early and lifes good . 

[Archi 46]

4 hours 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  

 

Mileage claim is the most simple method. - 45p per mile for the 1st 10k then 25p per mile thereafter. But you can’t then claim if you have a large repair bill or capital allowances. When you change your vehicle you can change from mileage claim to actual costs less a relevant private use %
plenty of other legit expenses to claim.

happy to advise further if you wish as this is my trade 

[king 11,666]

Some good info lads thank you

[tatsblisters 7,971]

7 hours ago, Chid said:

You can choose not to pay in to a workplace pension 

I know Chid I have opted out paying it for myself reason being as I get a miners pension that and when I get my state pension will take me over the tax threshold. Though I would advise anyone who has got years left working to pay into a pension scheme. 

[Qbgrey 3,989]

The company you do work for must register you with hrmc first then they by law must deduct your 20% and pay you minus the tax, they must ( but try not too) give you a receipt to prove they paid it.you keep theses along  with fuel, tyres, servicing etc , tools, boots, clothes, ppe.any receipt for new vehicle purchased.any computers , ink , paper , printers etc , your wife can get you a bit of tax off because she types out your invoices etc. if you get a decent accountant they will sort it and you don’t always need receipts for certain things as thiers an annual allowance allowed. Child tax credits comes into too. If you do a private job they can’t take your tax off cause they are not a registered buisiness so you have to do that yourself at the end of tax year. Hand written garage receipts are a man’s best friend

[lurcherman 887 12,689]

Just keep log of mileage, my accountant told me not bother keeping all fuel receipts any more. 

[Borr 4,513]

6 hours ago, lurcherman 887 said:

Just keep log of mileage, my accountant told me not bother keeping all fuel receipts any more. 

Depends if you're using the missus's receipts then millage isn't much use, just makes their job easier...

[Borr 4,513]

I go through all my bank statements use a different colour marker for fuel/hotels/car/tools etc and post along with any e receipts, eBay receipts etc