Advice Needed - Starting Up

[Martinelli1982]

Hi All,

I’m currently self-employed working as a sole trader in the electrical installation sector.

I’m looking to start up with a fellow electrician a small business and need some advice on the best way to do this. Partnership? Limited Partnership? Do I need to register with Companies House? How much will it cost (roughly) to start ……?

We have quite a wide base of clients and potential for work is good, and are expecting money to be very good and we both feel this is the way forward. What are the Tax implications?

Can a Partnership join NICEIC or any other governing body???

Thanks

 

[apowspark]

Not sure mate but can I ask you a question? Sorry if I seem rude

Sent from my GT-I9300 using Tapatalk 2

 

[Martinelli1982]

Ask away ..........

 

[SJD]

You can find quite a lot of info about starting a company at Companies House.
See also the Business Link website, for example Set up and register a limited partnership | Business Link

It makes a change to hear from someone “expecting money to be very good”, right now there seem to be a lot more posts saying the opposite!

 

[Octopus]

If you start as a partnership you will find out that the threshold for VAT of about £77K will make you have to charge VAT on your jobs.

Sole traders have the same threshold so you will be at a disadvantage to them.

 

[Martinelli1982]

Thanks ... have had a quick look at those but need a bit of advice on the jargon that goes with it & the best option for my situation !

maybe "expecting money to be very good" should of been " potentially money could be good" ..........

 

[apowspark]

well thats the way

 

[Martinelli1982]

"well that's the way" ..... Is that your question ??

 

[apowspark]

no mate this site keeps blocking my posts

- - - Updated - - -

ive done a summerhouse wire up via a garden shed. a luminaire in the shed along with a junction box.

but the rccb keeps tripping

please help​

 

[sjhall]

Get an electrician in.... You have posted the same on another forum and it's obvious your not competent... The info you supplied on other forum is scary... This isn't me having a go, but incompetence can kill. Bite the bullet and get a spark in.