Private Work

[LVSparks]

Hello All.

Here's my situation, im currently NICEIC QS where I work, im earning a half decent wage but its never enough right.
Im debating with the idea of setting up on my own but the thought of trying to replace my salary is frightening, mortgage and family so very risky. Not got enough savings to feel confident.

So im thinking its more realistic to stay as I am and try and push my PJs. Im only really after the cash in hand jobs evenings and weekends.
I have a mate who says he will 3rd party certify for me.
Im thinking of joining Stroma so I can self certify, but as you may know there's the fees that come with it.
Reg fee, insurance fees, books to buy. And what ever I haven't thought about......(please enlighten me)

I think I would have to set up as sole trader or Ltd to prove im a business to Storma.

Can you guys think of a cheaper way to legally achieve this?

Im thinking the cheapest out lay would be to get get Public Liability and Indemnity Insurance and use my mate to certify.

 

[Pete999]

Hello All.

Here's my situation, im currently NICEIC QS where I work, im earning a half decent wage but its never enough right.
Im debating with the idea of setting up on my own but the thought of trying to replace my salary is frightening, mortgage and family so very risky. Not got enough savings to feel confident.

So im thinking its more realistic to stay as I am and try and push my PJs. Im only really after the cash in hand jobs evenings and weekends.
I have a mate who says he will 3rd party certify for me.
Im thinking of joining Stroma so I can self certify, but as you may know there's the fees that come with it.
Reg fee, insurance fees, books to buy. And what ever I haven't thought about......(please enlighten me)

I think I would have to set up as sole trader or Ltd to prove im a business to Storma.

Can you guys think of a cheaper way to legally achieve this?

Im thinking the cheapest out lay would be to get get Public Liability and Indemnity Insurance and use my mate to certify.

A right enough

 

[LVSparks]

A right enough

??????????

 

[Pete999]

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Tried to edit post but judging from your question it didn't work, what I was going to say is , with a mortgage and young family I would stay where I was until you feel the time is right, nothing worse that being all enthusiastic about going it alone, only to find it;s all gone tat;s up, I know what its like, I have experience.

 

[LVSparks]

Tried to edit post but judging from your question it didn't work, what I was going to say is , with a mortgage and young family I would stay where I was until you feel the time is right, nothing worse that being all enthusiastic about going it alone, only to find it;s all gone tat;s up, I know what its like, I have experience.

Yes Pete to be fair I agree.
What I want to do I concentrate on my PJs on the side.
Ill get the proper insurance and with my mate to do the certs and notifications that surely must be the cheapest outlay option.

 

[Octopus]

Don't forget to register with HMRC as SE and then save for your tax and ni bills.

 

[Octopus]

Yes Pete to be fair I agree.
What I want to do I concentrate on my PJs on the side.
Ill get the proper insurance and with my mate to do the certs and notifications that surely must be the cheapest outlay option.

Are you sure involving a 3rd party will be easier? And cheaper?

 

[LVSparks]

Are you sure involving a 3rd party will be easier? And cheaper?

I cant see why it wouldn't be cheaper, I wouldn't need to pay for registration to a scheme and my pub insurance wouldn't need to as expensive.
Being easier doesn't bother me to much, I don't do a lot of PJs.

 

[uksparks]

So your mate is will to take all liability for all of your jobs?? Will people not question the fact thT certificates been done by someone else and your name is not on it?

 

[David M]

Don't forget to register with HMRC as SE and then save for your tax and ni bills.

Yeah right, If only! that's why us self-employed sole traders end up being noncompetitive with half the jobs we price.

There's always someone's "mate" who will do it on the cheap. :frown2:

 

[LVSparks]

So your mate is will to take all liability for all of your jobs?? Will people not question the fact thT certificates been done by someone else and your name is not on it?

Yes my mate will do the certs because he knows my level of competency. I don't do that many, I could probably get it done through my company but I try to keep my private affairs separate.
All I have to do is explain about the 3rd party cert issuer, no problem.

 

[LVSparks]

Yeah right, If only! that's why us self-employed sole traders end up being noncompetitive with half the jobs we price.

There's always someone's "mate" who will do it on the cheap. :frown2:

That's the world we live in.

 

[David M]

That's the world we live in.

Yep, we all want a bargain

One line that always makes me laugh is when I get a client ask me if a do "foreigners".

"I'm self-employed you dim wit so how can I do foreigners?" well that's what I'm really thinking when I polity turn them down.:6:

What they really mean is - would I do it for mates rates for cash on the cheap at a weekend? so as not to disrupt their important lives and eat into the cash they want to spend on their designer jeans

ooh.... I'm so bitter and jealous Lmao :73:

 

[Deleted member 26818]

Unless you intend conducting periodic inspections, you would not need professional indemnity insurance.
To be registered with a scene as a sole trader, I imagine you would need to register with HMRC as self employed.

 

[bigspark17]

1- what are u on in the company.?
2- what could you earn at top level in company?
3- how much do you think youd earn going it alone,?