Yes another self employed discussion

Telt:
I had a go at it over the course of the summer there. Set up as an LTD which involved taking out public liabilities insurance (cost £135), getting on the books of an accountant (who charged £25 a week - you can do it yourself if you can be arsed but I couldn’t) and setting up a business bank account (20 minutes in branch). It meant that a job that paid £630 per week on PAYE terms (bottom line) went up to £795 for the exact same work. That, to me, was better than accruing holiday entitlement each week.

Of course, as stated above, at the end of the day I was under no illusions that it was anything other than a tax fiddle. I was picking up agency work and driving an established firm’s truck doing their work for them. After 12 weeks of justifying this to myself by giving it “well if it’s good enough for the rich…” eventually my conscience kicked in and I went back to being a full time employee for this and a few other reasons.

At the end of the day it does pay more money if you can be arsed with the hassle of setting it all up and changing jobs at least every 26 weeks but you have to weigh that against the security of a “proper” job and the moral puzzle of dodging tax.

well explained mate and to answer your question no I probably couldn’t be bothered to set it all up I’d rather keep to the safety of being on paye after reading all this

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