coozer
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| posted on 30/12/10 at 12:25 PM |
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Self employed? Any advice?
I knoiw some of you will be self empoyed and I'm thining of going that way.
Basically I'm working as an HGV driver now but due to the job situation up here thers NO permanent vacancys. Well, none for me as I keep getting
told I'm "too green".....
So, in order to keep the pennys rolling in its agencys for me at the moment, but, if I use more than one I get stung for tax and insurance. The main
one who have my P45 pay the normal rate, the others take band B contributions and its not worth it!
The agency I'm with pay £1 an hour extra fpr self employed as well!
In order to get on the books of 3,4,5, or more agencys and make it worth while I'm considering being self employed.
I have been before, working in London during the building boom so know alittle bit about it.
Anyone offer me some good advise? Just wondering if my income potential will rise....
Regards,
Steve
1972 V8 Jago
1980 Z750
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franky
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| posted on 30/12/10 at 12:34 PM |
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you can claim the extra tax you pay back you know?
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sonic
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| posted on 30/12/10 at 12:40 PM |
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Its a pity you don't live a little bit further South,i am sick of seeing signs for HGV drivers wanted good pay etc.
I read somewere that there is a shortage of drivers around the Doncaster,wakefield areas.
The only problem with being self employed is that if you are sick,on holiday,injure yourself you earn didlysquat,its not like you own a company which
keeps selling or generating an income in your absence.
A friend of mine worked for a agency in Hull HGV driving and he got sick pay and some holiday pay.
I can find out who they are if you like they may have work up your way,he was always busy but had to be flexible etc
Thanks
Mick
[Edited on 30/12/10 by sonic]
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BenB
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| posted on 30/12/10 at 12:46 PM |
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Yup, that's why they pay extra, they also don't have to pay pension contributions etc.....
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Paul TigerB6
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| posted on 30/12/10 at 12:53 PM |
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As above, you can claim back the additional tax at the end of the tax year - although tax offices are often painfully slow).
Dont forget that there's always generally a downside to anything. That extra £1 per hour the agencies are willing to pay - well they can afford
to pay it because they dont have to contribute National Insurance contributions for you etc. Whilst you might earn more, you may suffer long term with
State Pension / benefits etc so you'll probably need to consider private pensions. You'll also need to look at doing your own tax returns
(or paying someone else to do it!!) so consider all the pro's and con's carefully.
Paul (work for a Financial Advisers)
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philw
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| posted on 30/12/10 at 12:57 PM |
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For an extra £45 a week it's not worth it, imo, no holiday/sick pay etc, then you have your tax return, i used a cheap accountant(you can do it
yourself) which was about £400 p/a so it probably works out you will earn an extra £1800 per year, although you will pay less tax/stamp but if you
have four weeks off holiday that cancels out the little extra you earn, not worth it, but it's your choice.
[Edited on [1293713925R0=123131p: by philw]
Must try harder
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