Any advice and cost and start up costs please to start Ltd company also can anyone recommend a good accountant near long eaton derby nottingham with experience of accountancy for hgv drivers many thanks and will I need liability insurance
If you do it online it takes about 20 minutes and costs around £15. Just google for “set up limited company online” or somesuch.
Ltd company £15 to set up, companies house choose your name and buy the company, open bank account, PL insurance may as well buy £80-90 for 2 mill cover. Thats it ready to go.
Google charted accountants in your area should cost no more than £300-£500 year they will tell you what you can claim back, sat nav etc, millage 45p mile for traveling to work and back if on agency.
Simple
hi,i use a company called pml they sort the lot out for you.cost about £18 a week and £3.50 for you liability ins.dead easy send you a pack out to show you the deal ,if your happy they set you up
hothow:
hi,i use a company called pml they sort the lot out for you.cost about £18 a week and £3.50 for you liability ins.dead easy send you a pack out to show you the deal ,if your happy they set you up
Wow thats expensive. So it costs you just over £1000 a year for what would cost half of that or less with a book-keeper and getting your accounts signed off.
Whats it like giving away 1/4 of your weeks income when you only get a day a week?
haha,i work for one co all the time so up to now i have never been in that situation.the way i view it is they get me a good deal more than being paye so there bit to me is worth it.everthing is setup and sorted come end of year etc in the price so it suits me fine,horses for courses as they say mate
hothow:
haha,i work for one co all the time so up to now i have never been in that situation.the way i view it is they get me a good deal more than being paye so there bit to me is worth it.everthing is setup and sorted come end of year etc in the price so it suits me fine,horses for courses as they say mate
Oh dear…
To the OP, ignore this guy’s advice.
hothow:
haha,i work for one co all the time
You’re in the crap when HMRC catch up to you. Your job doesn’t qualify for self employment. Hope you’ve not been spending the money you’ve been “saving” on tax because they’ll void all your expenses claims and send you a nice fat bill. I believe the record on this website is somewhere around £16,000 tax bill.
hothow:
haha,i work for one co all the time so up to now i have never been in that situation.the way i view it is they get me a good deal more than being paye so there bit to me is worth it.everthing is setup and sorted come end of year etc in the price so it suits me fine,horses for courses as they say mate
How much more than PAYE ?
As long as he pays his tax when due why we could they go looking for him it happens slot more than you realise.
Could be 2-3k plus depending on wages
There was an article on this subject in truck and driver and it said if you drive a company vehicle you should be paye ands is allegedly being clamped down on
alix776:
As long as he pays his tax when due why we could they go looking for him it happens slot more than you realise.
Because he isn’t paying the tax due as he’ll be claiming expenses which he isn’t allowed to which means he won’t be paying tax on the amount he claims. Certainly the mileage claim would be disallowed as it is a job, not self employment and therefore the mileage is normal commuting and a not tax deductible expense so there’s 20% of whatever he’s been claiming in mileage he owes. If he’s claiming 10,000 miles a year in travel thats £4500 which he’s not paying tax on so that’s £900 the tax man isn’t getting that they should.
Secondly there is the Employers National Insurance which the company he works for is not paying which is equivalent to 12% of everything he earns over £8,000 a year. If he is on £30k then that is another £2640 that HMRC isn’t getting that they should so there’s over £3500 in tax evasion just in those two things alone.
I like your Avatar
The OP’s original question which included a query about PLI makes me think he will be working for the agencies, as there are several agencies who seem to insist on PLI.
If my instinct is correct then the OP should reconsider the idea of Ltd Co or S/E work via the agencies, for reasons that have been flogged to death many times over.
peirre:
The OP’s original question which included a query about PLI makes me think he will be working for the agencies, as there are several agencies who seem to insist on PLI.
If my instinct is correct then the OP should reconsider the idea of Ltd Co or S/E work via the agencies, for reasons that have been flogged to death many times over.
But but … what about IR35? 
What about it ■■
peirre:
What about it ■■
Preemptor for Conor showing up.
Connor sound slot like jealousy to me except it’s not tax evasion is it he can only claim for the miles he does for business. Is to and from any job he or she is on and in connection with the business is accountants. As for ni if there doing it right they won’t be paying any ni but will get a credit (won’t apply to umbrella scams). Just time to change the record please it’s get way to tedious.
To the op if it’s agency then most agencies want you to have damage waver insurance. Personally I think it’s a con and there doing to get work so they can pass the risk on to the driver this way they can rake more in and also lower your pay. I have to admit I hate them and I’ve not used any for many years. I did have one ring up and they tried to tell me it was a legal requirement I have this (it isn’t by the way) I’m still waiting for the return call as they were looking into if it was a requirement funny that isn’t it
Carl Usher:
peirre:
The OP’s original question which included a query about PLI makes me think he will be working for the agencies, as there are several agencies who seem to insist on PLI.
If my instinct is correct then the OP should reconsider the idea of Ltd Co or S/E work via the agencies, for reasons that have been flogged to death many times over.But but … what about IR35?
If the op is working and invoicing more than one agency then ir35 won’t enter into the equation. how ever I wouldn’t go the umbrella route I’d invoice myself at personally agreed day or hourly rate.
Slot of the crack down is on msc where the umbrella invoices your customer. It’s cheeped and easier to do it your self there’s many smartphone tablet apps about that will create and invoice for you from a couple of clicks once set up