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Old 27-12-2007, 08:09 PM
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BillyCabrio
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Default Self-Employed....

Whats the deal with it and how do i go about it?

Come January its the route i'm going down, but it i'm a little daunted about it and i'm wondering if anyone could offer me some advice?

Old 27-12-2007, 08:18 PM
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markk
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www.hmrc.gov.uk

all you need on there - and good luck, its a tough world when your self employed, and the work does not stop at 17.00 hrs either
Old 27-12-2007, 08:37 PM
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gkandr4ch
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Yeah and don't I bloody know it!!!!!!!!! It's good being self employed, especially if the majority of your money is cash in hand. You decide how much tax you want to pay.
Old 27-12-2007, 08:44 PM
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Lee Reynolds
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Originally Posted by markk
www.hmrc.gov.uk

all you need on there - and good luck, its a tough world when your self employed, and the work does not stop at 17.00 hrs either
agreed
Old 27-12-2007, 08:53 PM
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markk
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Originally Posted by gkandr4ch
Yeah and don't I bloody know it!!!!!!!!! It's good being self employed, especially if the majority of your money is cash in hand. You decide how much tax you want to pay.


you think you decide - one word of advise - dont fook with the taxman
Old 27-12-2007, 08:59 PM
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gkandr4ch
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Your not an undercover taxman are you?
Old 27-12-2007, 09:01 PM
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markk
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Originally Posted by gkandr4ch
Your not an undercover taxman are you?
lol, i class them on the same level as traffic wardens, only the fine is much much more severe

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Old 27-12-2007, 09:10 PM
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combi van man
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im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Old 27-12-2007, 09:12 PM
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Combi Man let me know if you need help on that. I know a 'very good' accountant and a 'very good' mortgage advisor.
Old 27-12-2007, 09:30 PM
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Neil Clark
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Originally Posted by combi van man
im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Not having you do my brick-laying then!, where in Derby are you bud? i'm Chad
Old 27-12-2007, 09:34 PM
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Originally Posted by Neil Clark
Originally Posted by combi van man
im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Not having you do my brick-laying then!, where in Derby are you bud? i'm Chad
im in spondon mate.think ive seen ur s1 about mate.did u use to work in borrowash?
Old 27-12-2007, 09:36 PM
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get a good accountant.
dont fook the taxman over "too much"
Old 27-12-2007, 09:37 PM
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Originally Posted by combi van man
Originally Posted by Neil Clark
Originally Posted by combi van man
im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Not having you do my brick-laying then!, where in Derby are you bud? i'm Chad
im in spondon mate.think ive seen ur s1 about mate.did u use to work in borrowash?
Nah, there was another in Borrowash (few years ago). I've had 2 series 1's, Mk1 mex's (2), Mk2 rs, white facelift cossie etc etc. Got a BMW cabbie now tho....
Old 27-12-2007, 09:39 PM
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Neil Clark
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Originally Posted by combi van man
Originally Posted by Neil Clark
Originally Posted by combi van man
im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Not having you do my brick-laying then!, where in Derby are you bud? i'm Chad
im in spondon mate.think ive seen ur s1 about mate.did u use to work in borrowash?
BTW i'm self-employed and got a morgage no bother (have a good accountant in Hilton) been self employed 13 years now. I drive a yellow cab BTW
Old 27-12-2007, 09:45 PM
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combi van man
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Originally Posted by Neil Clark
Originally Posted by combi van man
Originally Posted by Neil Clark
Originally Posted by combi van man
im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Not having you do my brick-laying then!, where in Derby are you bud? i'm Chad
im in spondon mate.think ive seen ur s1 about mate.did u use to work in borrowash?
Nah, there was another in Borrowash (few years ago). I've had 2 series 1's, Mk1 mex's (2), Mk2 rs, white facelift cossie etc etc. Got a BMW cabbie now tho....
did u use to have a green mk1 mex that was stud on a drive for years near chad park.
Old 27-12-2007, 09:45 PM
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Originally Posted by markk
www.hmrc.gov.uk

all you need on there - and good luck, its a tough world when your self employed, and the work does not stop at 17.00 hrs either
Cuh!!

I'm on the books at the moment and my working days are usually 04.30 - 19.00

So finishing at 17.00 would be nice...... For once

I'm returning to college in the new year on a 2 week on and 2 week off basis, during the 2 weeks off i'll be working 2 - 3 jobs and don't wanna be paying tax at the normal and increased rates
Old 27-12-2007, 09:49 PM
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the only think about selfemployd you don't get payed for holidays
Old 27-12-2007, 09:50 PM
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Originally Posted by combi van man
Originally Posted by Neil Clark
Originally Posted by combi van man
Originally Posted by Neil Clark
Originally Posted by combi van man
im a self employed bricklayer & im on £18.75 an hr & its great.if u get a acountent he will sort out your tax's & ull get a nice tax rebate each year.but im looking to get a job on the books as i stand a better chance for a mortgage.
Not having you do my brick-laying then!, where in Derby are you bud? i'm Chad
im in spondon mate.think ive seen ur s1 about mate.did u use to work in borrowash?
Nah, there was another in Borrowash (few years ago). I've had 2 series 1's, Mk1 mex's (2), Mk2 rs, white facelift cossie etc etc. Got a BMW cabbie now tho....
did u use to have a green mk1 mex that was stud on a drive for years near chad park.
No mate but i did know that bloke (was a good replica). Had a black with silver stripes one and a yellow with black stripes

The yellow one....



Need the number of a good accountant PM me, or any other info...
Old 27-12-2007, 09:51 PM
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Originally Posted by tichy.cosworth
the only think about selfemployd you don't get payed for holidays
Yeah or sick, pension etc....

But i'd rather have a job that i'm happy in and at least get some job satisfaction! Especially if i'm going to be doing the same thing until i'm 70!
Old 27-12-2007, 09:52 PM
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combi van man and Neil Clark, when you two have quite finished
Old 27-12-2007, 09:55 PM
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Holiday money isnt a problem....you put it away week by week if you need to. I never got sick pay anyways so when i went into business it made no difference. Plus you dont have time off when your self employed unless your DYING
Old 27-12-2007, 09:56 PM
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Originally Posted by gkandr4ch
You decide how much tax you want to pay.
Until such time you start driving around in flash cars and a new van and have a dalkie gaff. Then when the tax man calls for an audit he'll tell you how much to pay!! Best to keep him sweet and tip away, Keep em off your back. Trust me they aint stupid.
Old 27-12-2007, 09:56 PM
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that is nice mate .
yeah will do mate cheers
Old 27-12-2007, 09:56 PM
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Originally Posted by tichy.cosworth
the only think about selfemployd you don't get payed for holidays
soo soo true

and as for finishing at 5pm , im self employed and like to be sat at home around 5pm try and have left work by 4 , im a carpenter btw
Old 29-12-2007, 07:10 PM
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So should i look for an accountant to help me spin my figures? lol
Old 29-12-2007, 07:21 PM
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Originally Posted by Oshit is that the taxman at my door? :cry: :-
So should i look for an accountant to help me 'Adjust' my figures? lol
Old 29-12-2007, 07:24 PM
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i do accounting at uni and there is no right or wrong way, its all about how creative you can get away with being and aslong as you think you have done the account to a true and fair view its all good
Old 29-12-2007, 07:36 PM
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Originally Posted by Cozzie Bhoy
Originally Posted by gkandr4ch
You decide how much tax you want to pay.
Until such time you start driving around in flash cars and a new van and have a dalkie gaff. Then when the tax man calls for an audit he'll tell you how much to pay!! Best to keep him sweet and tip away, Keep em off your back. Trust me they aint stupid.
I pay them enough tax throughout the year and have never had a problem in 10 years. I must be paying enough. The less I pay the better.
Old 29-12-2007, 08:02 PM
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Originally Posted by gkandr4ch
Originally Posted by Cozzie Bhoy
Originally Posted by gkandr4ch
You decide how much tax you want to pay.
Until such time you start driving around in flash cars and a new van and have a dalkie gaff. Then when the tax man calls for an audit he'll tell you how much to pay!! Best to keep him sweet and tip away, Keep em off your back. Trust me they aint stupid.
I pay them enough tax throughout the year and have never had a problem in 10 years. I must be paying enough. The less I pay the better.
also to add to that it was said cash. They can't prove exactly how much cash you took for the whole year, unless every job you did was them undercover lol .
Old 29-12-2007, 08:07 PM
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Be FULLY awarte of the overheads involved. Dont let anyone paint you a stupid picture of how its all rosy.

Overheads are massively trade dependant, for example, a Painter and Decorator or bricklayer may have only a few hundred a month to pay out, where as someone in a bespoke trade doing something unusual may have £10K per month due to teh advertisng required to get tha same amount of work as the bricky per week.

Do lots of research and take advice only from people qualified to give it. far to many NON self employed people telling folk to go for it when they havent a fooking clue what they are talking about!
Old 29-12-2007, 08:10 PM
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Originally Posted by Stu @ M Developments
far to many NON self employed people telling folk to go for it when they havent a fooking clue what they are talking about!
Never a truer word spoken...
Old 29-12-2007, 08:11 PM
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I'm only going to be a sparkie lol

Thanks tho Stu
Old 29-12-2007, 09:21 PM
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Originally Posted by Stu @ M Developments
Be FULLY awarte of the overheads involved. Dont let anyone paint you a stupid picture of how its all rosy.

Overheads are massively trade dependant, for example, a Painter and Decorator or bricklayer may have only a few hundred a month to pay out, where as someone in a bespoke trade doing something unusual may have £10K per month due to teh advertisng required to get tha same amount of work as the bricky per week.

Do lots of research and take advice only from people qualified to give it. far to many NON self employed people telling folk to go for it when they havent a fooking clue what they are talking about!
Yes, some people dont realise how much you can spend in a month its scary.

We get various trades arguing with is all the time about prices etc and they dont believe me when i tell them they are actually on a bigger wage then i fooking am Just because a job is so many thousands of pounds they dont realise how much you spend...just cos they are labour only they think all the other money is profit
Old 29-12-2007, 09:32 PM
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wise words stu and lee
self employed decorator by the way
Old 29-12-2007, 09:34 PM
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Then ya get insurance companies taking their time to pay up and youve got bills to pay and lads to pay




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