Thinking of starting your own Business as a Soletrader? Electrician or Electrical co?
- Thread starter a1
- Start date
Help Support Talk Electrician Forum:
- Status
jus joined been forced into starting on my own as been unable to get employment for last two years so focused on trying to get a job hadn,t considered this option untill recently any idea if there is any help available for someone like myself and is there any call for automation and control ie inverter,plc programming ,fault finding and repair of industrial and domestic machines, hydraulics, pneumatics ,mechanical repair and fabrication, computer repair and networking was senior tech for 20 years on hi end machinary and now also have part p, 17th edition, pat testing ,plc programming ,2391 and is it worth getting niceic accredited and geting a cscs or ecs card many thanks in advance all
PM me
Technician
Well-known member
- Joined
- Sep 26, 2011
- Messages
- 1,446
- Reaction score
- 0
Believe it or not everybody, there is one course which has sections in it that are relevant to this thread. The Road Transport (CPC) course has sections in it on H & S legislation, social legislation, financial and commercial conduct which any sole trader or tradesman should know. It also includes the balance sheet, the acid test upon financial viability and much more.
I worked on delivering this course and believe me, these sections are invaluable.
Hope this assists.
I worked on delivering this course and believe me, these sections are invaluable.
Hope this assists.
driver CPC is another money making scam, and does just about nothing to help the transport industry
in 2014 when no-one can drive professionally on 'grandfather' rights, i can see a lot of competent drivers retiring, and will end up with too many who dont have a clue what they are doing, even though they have a piece of paper saying they can
in 2014 when no-one can drive professionally on 'grandfather' rights, i can see a lot of competent drivers retiring, and will end up with too many who dont have a clue what they are doing, even though they have a piece of paper saying they can
Last edited by a moderator:
Flying Sparkie
Junior Member
- Joined
- Feb 9, 2012
- Messages
- 1
- Reaction score
- 0
Wow great,many thanks. I've had my head buried in the sand or books a while, this given me a some motivation, and to relax a bit more!!
:worship
:worship
ChisusChrist
Member
Very good read, so glad i joined this forum!
Capital City Electrical
Capital City Electrical Services
Thanks the links are good even for an established business
If anyone is editing the linked page, the VAT threshold for 2014/2015 is £79K
Thanks for pointing that out.
I`ll look into it.............
I`ll look into it.............
Tradecerts
Member
If you need any help then have a chat with me I have become quite an expert on webdesign and SEO in regards to trade websites
Funkygibbons
Member
This is brilliant I am self employed and work for agency I was CIS were agency's take the 20% and £20 admin fee the problems now are the governments are trying to replace CIS with this umberella system were payroll companys no longer allow you to trade as a solo trader they want you under there umberela system where they deduct your Tax, NI contributions, Employers NI contributions so were paying our NI payments and employers and a £20 fee to process your wage at the end of the week plus they pay you expenses when you provide petrol or public transport reciepts. Paying the company's NI contributions is totally unfair as agencys workers are only temporary working for them, you do get some agency paying CIS but they are few and far between. The best thing about going CIS is your tax return i would really like to set up a LTD company but dont know the difference between solo trader or LTD my accoutant puts me off setting eigther One up by stating its to much hassle but the way i see it all these administration charges payroll company's charge me just to pay me whats rightly mine is better in my pocket than theirs.
the gov arent making you use umbrella company,
its the agency
tell them to F off, you are CIS
and, if your accountant is telling you not to go Ltd then you are either making <25K a year
or you have a bad accountantant
Funkygibbons
Member
How would me earning around £25k stop me going LTD because i would only earn around £25k if it was a good year. Yes your right if us tradesmen all stick together and refuse to go umberella these agencys would fold i must state i am not fully qualified as a spark as yet but i will be in 2016 so i would like to idealy set up LTD company now.
£25k is sort of the tipping point for it to be financially viable to go Ltd,
You can go Ltd at less than this, but you may be less profitable.
You can go Ltd at less than this, but you may be less profitable.
Sharpend
"It Just Is"
How beneficial are you finding being ltd Steps? Haven't the goal posts been moved on being ltd now? Thought I'd read that somewhere.
Funkygibbons
Member
Steptoe Thanks for the info i have a mate whos a spark who registered his company name with Companies House after setting up a business bank account agency's just pay him his gross the payroll companies dont get the administration fee which they would take if he was CIS or Umbrella0161 396 0666
is this a simpler system or is this a LTD he's talking about.
is this a simpler system or is this a LTD he's talking about.
I think you need to have traded for certain time and established a trade vaue over something like 25k before you can go gross CIS, but you need to get proper financial advice on that point - i did it years ago and it's a lot simpler than messing with other people fiddling with your money
- Status
Similar threads
