Whats Every Ones Views On Goin Self Employed?

[dazzlers82]

been offered an opportunity to go self employed in a paint shop but also doin mechanical work as well (lorry repairs,cars e.t.c

[ROAR]

dont jump, take a step back, look at the bigger picture, dont forget, you get no sick pay, holiday pay etc, you are responsible for sorting out your own tax etc. think, how much work is there likely to be, is it going to pay you to go self employed, if it still looks like a good option go for it............. but thats just my opinion.. good luck in what ever you chose to do

[Pele]

  ROAR said:

dont jump, take a step back, look at the bigger picture, dont forget, you get no sick pay, holiday pay etc, you are responsible for sorting out your own tax etc. think, how much work is there likely to be, is it going to pay you to go self employed, if it still looks like a good option go for it............. but thats just my opinion.. good luck in what ever you chose to do

Make sure you do your accounts every week, otherwise you put it off then you end up with a years worth of receipts and bills to sort out and put the tax money away!!!!

[baser999]

If this is going to be your only source of earnings its possible that the Revenue will not accept that you are self-employed. Have a look at http://www.hmrc.gov.uk/pdfs/ir56.htm#2. which gives some pretty good advise as to whether you are employed or self-employed.

[HOL]

  BASER999 said:

If this is going to be your only source of earnings its possible that the Revenue will not accept that you are self-employed. Have a look at http://www.hmrc.gov.uk/pdfs/ir56.htm#2. which gives some pretty good advise as to whether you are employed or self-employed.

Yup the tax office have loads of rules to ensure that you pay employersNI, if you are the boss.

If you can invoice for each car you do, you may be able to sidestep the above. The best advice is a good accountant.

[dazzlers82]

thanks all for your oppinions im gonna take my time an look into this properly before i jump

[Jolly Green Monster]

i love working for myself but as pointed out that sounds like it might fall into high tax..