Starting up help

[leokiss]

Hi all,i've been sub-contracting to various companies for about 6 years on hourly rate or price.
Never really worked out of work for myself have always turned work down or passed it on. But as work is harder to find and dosen't pay as well as before i want to start doing my own.
But always have problem of signing work off. Can i do it im jib approved spark with 2391. From reading a few threads looks like i need to join napit or one of others like.
Been to there sites and they want to see past work but how do you do that if you cant sign it off?( the reason ive been turning work down).How do you break the cycle?
Gunna go into business with a work mate we plan to carry on subbing but doing what we pick up after hours n weekends as not enough work to do for ourselves full time but hopefully in future can.
Seen an accountant too and he was wanting £100 a month and £25 for payroll too!( As LTD).
Anyone any ideas as to what to do ? Do we need to be a company to join such as napit,if so how do we do it with what seems alot of cost just to do bits of work we pick up!
Bit lost as to what to do so any help and advice would be welcome.
PS sorry for rambling on and been long winded!

 

[Des 56]

Forget accountants for a while yet
Engage one if you want after the first year,unnecessary expense for the time being
Do some substantial work in yours or a relatives house and use that for assessment
A consumer unit change would probably be enough for Nic etc

The benefits can only be gauged against how many jobs you do that needed notifying, against the reduced virtual no charge of the schemes plus their entry fee
Napit used to do a Just 8 scheme for your situation,it may still be going
It was much less cost than full scheme and would probably suit you best

Dont turn away work or be put off by these procedures(part p) that are dreamed up to make us electricians pay to do the job we were trained to do in the first place

Doing your own work part time whilst employed is a perfect solution whilst you generate your own work and get the nonesense part p thing sorted out

 

[m25maintenance]

Hi all,i've been sub-contracting to various companies for about 6 years on hourly rate or price.
Never really worked out of work for myself have always turned work down or passed it on. But as work is harder to find and dosen't pay as well as before i want to start doing my own.
But always have problem of signing work off. Can i do it im jib approved spark with 2391. From reading a few threads looks like i need to join napit or one of others like.
Been to there sites and they want to see past work but how do you do that if you cant sign it off?( the reason ive been turning work down).How do you break the cycle?
Gunna go into business with a work mate we plan to carry on subbing but doing what we pick up after hours n weekends as not enough work to do for ourselves full time but hopefully in future can.
Seen an accountant too and he was wanting £100 a month and £25 for payroll too!( As LTD).
Anyone any ideas as to what to do ? Do we need to be a company to join such as napit,if so how do we do it with what seems alot of cost just to do bits of work we pick up!
Bit lost as to what to do so any help and advice would be welcome.
PS sorry for rambling on and been long winded!

the old boys ignore niceic and the other lot as they dont need to prove what they know. if you can show a court you know your stuff then work away

 

[leokiss]

Cheers,what jobs need notifying? Thought all domestic work now has to have a part p number.
Ye i didnt think an accountant seemed right a min,may still have to talk to one as what about buying gear wont i need to be set up as a company to buy materials from wholesalers and all that business which clearly im not sure about, VAT and the like.
I have just been offered a job to update part of a house that is let out as a flat,the guy who wants it doing has had a crazy quote,the spark who looked said it needed all rcds fitting in board. So just sounds like a 17th update.
Can i do this without notifying or will i have to turn it down?

 

[lloyd1980]

if its domestic, then any new circuit or work in a 'special location' needs notifying, this can be a bedroom with an en-suite, kitchen, bathroom
you either get LABC out at a cost or join a scheme
part p doesnt apply to commercial or industrial work, the only time it applies to commercial is if there is say a dwelling and a shop on a shared supply (shop below flat above etc)
just guage whether most of ur work is commercial then if so then dont worry about notifying.just test it and give a cert

 

[AIM]

leokiss,
You can claim back against income tax all set up costs from up to 7 years ago. You can also claim back 40p per mile for collecting tools, equipment and stock from up to 7 years ago.

Training costs can not be claimed back - but traveling from home to and from place of training can also be claimed back at 40p per mile.

Once you are set up as Self Employed you can claim business based training as a legitimate business cost.

You must pay class 2 National Insurance within three months of setting up. This is a personal payment so can not be put through business expenses. You're best of setting up a direct debit from your personal bank account.

I have an Accountant provided free of charge from Business Link. Get in quick as the Conservatives with a small 'c' have pulled the funding for Business Link from 1st September 2010. So much for helping small business?

You should be able to get an Accountant to help you with year end Tax return for between £50 and £80.

Hope this helps and good luck.

 

[billy110]

the old boys ignore niceic and the other lot as they dont need to prove what they know. if you can show a court you know your stuff then work away

If you know your stuff then work away, great advice m25 maintenance !

 

[billy110]

If you know your stuff then work away, great advice m25 maintenance !

No extra points for spotting sarcasm

 

[DiscoDave]

I was in a similar position, turning work away because i was not registered etc etc, come the time when i set up on my own i used my own garage as a notifiable job, and had to stick my neck out when going to quote for a few "yes love i'm registered with a part p scheme" and hoping i'd pass when i was assesed. ( i did).

with your qualifications, you'll get part p registered with ease (provided you can do the job), get your insurance and you are set. register as self employed, pay you stamp and use an accountant for your tax return, yes you can do it your self, but an accountant can get you more for your money so to speak.

really all you need to get going is insurance and part p, that will set you off and it shouldn't be too long before your weekend and evenings are turning in to full days and weeks!

 

[Octopus]

If you go down the self employed route and you don't want to get bogged down by all the admin of runing the finanaces side I can recommend a software programme by Intuit - Quickbooks Pro.

If you hunt around it'' set you back about £200.00 and that's a 1 off charge - it allows you to create estimates & invoices, lets you manage all your suppliers and keep an eye on your finances PLUS at the end of the year produce all the figures for your accountant.