Starting Up

[Lecciv]

I have worked for a nsi gold security company for the last fifteen years whose main business is intruder and fire alarms. I also install CCTV and door access.

This maybe the wrong place for me being mainly a 12v installer(i expect some stick) but i am keen to hear any advice on going self employed.

I am now in a position where i am mortgage free have enough money in the bank to keep me going a year or two. With no dependants either i really don't need a regular job at present so the self employed route appeals to me greatly.
Ideally i would not be looking to build my own customer base but sub contract or temp contract with existing firms. I have a few contacts and am reasonably confident of picking up some work early on and i'm sure this would lead to more. Anyway i could always go back to a regular job if i fail so i really don't have much to lose.

Thing is i have no idea on where to start.

First thing to do is register as a sole trader and name my business? I think this would be relatively easy as it can be done online.
Am i right in saying i could do this now whilst i am currently employed?

If i did set up as a sole trader would i be expected to pay NI on top of what i currently pay with my employer?

If i never actually did any work as a sole trader would i still be expected to fill in a tax return form at the end of the year?

These are just a couple of questions that i have and may seem a little dumb to some but searching the net hasn't proved fruitful with answers so far.

Anyway if anyone has any tip and hints please let me know.

Cheers,


Lecciv

 

[Marvo]

Welcome to the forum Lecciv. We do have a locked forum for professional alarm installers but you require >30 posts to qualify for access so if you're around for a while give one of the Staff members a nudge for access when you get to the thirty post mark..

 

[Octopus]

Hi. Suggest you peruse the Business Section - there are countless threads anddposts on becoming self employed

 

[shanky887614]

I have worked for a nsi gold security company for the last fifteen years whose main business is intruder and fire alarms. I also install CCTV and door access.

This maybe the wrong place for me being mainly a 12v installer(i expect some stick) but i am keen to hear any advice on going self employed.

I am now in a position where i am mortgage free have enough money in the bank to keep me going a year or two. With no dependants either i really don't need a regular job at present so the self employed route appeals to me greatly.
Ideally i would not be looking to build my own customer base but sub contract or temp contract with existing firms. I have a few contacts and am reasonably confident of picking up some work early on and i'm sure this would lead to more. Anyway i could always go back to a regular job if i fail so i really don't have much to lose.

Thing is i have no idea on where to start.

First thing to do is register as a sole trader and name my business? I think this would be relatively easy as it can be done online.
Am i right in saying i could do this now whilst i am currently employed?

If i did set up as a sole trader would i be expected to pay NI on top of what i currently pay with my employer?

If i never actually did any work as a sole trader would i still be expected to fill in a tax return form at the end of the year?

These are just a couple of questions that i have and may seem a little dumb to some but searching the net hasn't proved fruitful with answers so far.

Anyway if anyone has any tip and hints please let me know.

Cheers,


Lecciv

There are others who work regually on 12v.

We do bms as well as door access so 24v as well sometimes (not very often doors are 24v though)

 

[Lecciv]

Welcome to the forum Lecciv. We do have a locked forum for professional alarm installers but you require >30 posts to qualify for access so if you're around for a while give one of the Staff members a nudge for access when you get to the thirty post mark..

Ok cheers. 30 posts is alot though

- - - Updated - - -

Hi. Suggest you peruse the Business Section - there are countless threads anddposts on becoming self employed

This is the Business Section!

 

[Octopus]

Ok cheers. 30 posts is alot though

- - - Updated - - -



This is the Business Section!

So start perusing then!

 

[imago]

I am now in a position where i am mortgage free have enough money in the bank to keep me going a year or two. With no dependants either i really don't need a regular job at present .....

Thing is i have no idea on where to start.

Lecciv

Given your circumstances I'd recommend the Caribbean.

 

[SPARTYKUS]

St Barts would be my choice.

 

[tazz]

Everbody starts some where, and as long as your not going to start rewiring commercial premises, with no idea. i sure we can help out.

 

[Brightspark2]

Have a look on the HMRC website at employed and self employed it should answer your questions...