Self employment

[Danni-l]

Hi I'm just looking at going self employed and have been offerd work . What should I be looking charge to bring in a week to cover all costs roughly?

Thank you for your time

 

[m4tty]

Every business has different costs and overheads you need to work out how much you need to live on plus profits. Special location has done many good posts about how to work out your hourly rate. Do a search and I'm sure youll find it

 

[Evans Electric]

Danni , as others will tell you , we are all in different situations regards income .

Theres a couple of older threads on the subject on here if you search.

You need to set out all your costs , van, insurances, scammers, etc. Special Loc. has some useful comments on the subject.

Basically a quick fix is , add up all your outgoings for the year , decide what you want to earn per year and divide by 52,and by 40 .

We don't know what your costs are.

This as a very simple equation and theres a lot more to it TBH . Some guys may tell you what they charge per hour but that suits their own circumstances , some are dropping their rates just to win a bit of work .

Don't forget you'll be paying tax @ 20% .

 

[betty swollocks]

I would suggest a hourly rate of about

 

[NozSpark]

Danni , as others will tell you , we are all in different situations regards income .Theres a couple of older threads on the subject on here if you search.

You need to set out all your costs , van, insurances, scammers, etc. Special Loc. has some useful comments on the subject.

Basically a quick fix is , add up all your outgoings for the year , decide what you want to earn per year and divide by 52,and by 40 .

We don't know what your costs are.

This as a very simple equation and theres a lot more to it TBH . Some guys may tell you what they charge per hour but that suits their own circumstances , some are dropping their rates just to win a bit of work .

Don't forget you'll be paying tax @ 20% .

Don't divide it by 52,,, unless of course you want to or expect to work every day of every week of the year.

You should be looking at working about 40 weeks of the year what with accounting for holidays, time off work for illness and lack of work.

 

[SPECIAL LOCATION]

Hi I'm just looking at going self employed and have been offerd work . What should I be looking charge to bring in a week to cover all costs roughly? Thank you for your time

Hello Danni, welcome to the mad house!

Guinness

The short answer is that there is NO short answer!!! :_| :_| :_|

But you can have some longer ramblings to give you something to think about.....

Any person thinking of self employment should have done a bit of homework first about the nuts and bolts of running a business..

There are some fundamental ground rules that are the same for all type of business..

Books such as these would point you in the right direction

 

[ProDave]

Very good analysis by SL

Just a few minor points.

The basic rate of tax is currently 20% not 25%, and something like (I forget exactly) the first

 

[Electroglow]

How much are you worth dan?

---------- Post Auto-Merged at 23:49 ---------- Previous post was made at 23:19 ----------

How much are you worth dan?

 

[batty]

Well I would like to earn

 

[IHarry]

There are a lot of factors you need to consider when you are self-employed. There will be days when you won't be able to bring home $. I don't agree with people putting their load to the clients because they need to catch up with their monthly/quarterly quota. When you qoute for every job be fair to your clients, just know your cost and add a reasonable margin.

 

[welchyboy]

as an example i am from the south east, Essex

i charge