- Get a good accountant (chartered only)
- Get liability insurance
- Might need to be VAT registered*
- You’ll be liable for your employees & employers NI
- Technically you dont unless you’re turnover above 85K but it could help.
Then consider:
The government was intending to make LTD contractors like this effectively impossible, but COVID got in the way. So expect that next year when you need to be PAYE.
It’ll likely cost a lot more in admin costs esp accountant for 1 days driving every 2 weeks. Accountant fees will cost a lot more.
Remember, if you work 5 days currently, you can work max of 1 day every other weekend. Really there aren’t that many class 2 jobs on a weekend (not an awful lot of class 1 really).
A heck of a lot of people have class 2 and they are all struggling for work on and off agency, with more licence experience. This is why agencies aren’t really interested, they have long term class 1 & 2 drivers coming out of their ears.
The main reason for LTD is they dont have to add to to PAYE, dont nedd to do any more than wait for an invoice from you then wait 30 days to pay you and in theory don’t have to add you to their insurance (you’re liable).
People like pallet networks are the best way to get experience even if they are run by a-holes sometimes. If you make more in a warehouse, I would stay there. Maybe in 5 years it’ll settle down.