andy187:
Adam_Mc:
… “why bother going through all this extra hassle for the same money and possibly less work?”…
I get paid at least £1 an hour more than PAYE (some jobs £3 p/h more)
And i pay a lot less tax (thanks to a good accountant)
true no holiday pay as such, but last year i turned over £29k and payed £2K tax
and i averaged 44 hours a week.
But you don’t get holiday pay, which lets face it, is why you’re paid more ph, and you say you pay less tax, but you have to pay an accountant and to top it all of, self employed are usually last to be picked for any work…so all things considered, I doubt you’re realistically much better off than a normal agency driver.
Adam_Mc:
andy187:
Adam_Mc:
… “why bother going through all this extra hassle for the same money and possibly less work?”…
I get paid at least £1 an hour more than PAYE (some jobs £3 p/h more)
And i pay a lot less tax (thanks to a good accountant)
true no holiday pay as such, but last year i turned over £29k and payed £2K tax
and i averaged 44 hours a week.
But you don’t get holiday pay, which lets face it, is why you’re paid more ph, and you say you pay less tax, but you have to pay an accountant and to top it all of, self employed are usually last to be picked for any work…so all things considered, I doubt you’re realistically much better off than a normal agency driver.
Agency would rather use S/E, as they do not have to pay any NI or holiday pay,
other PAYE drivers have had bad 2 months, 1 or 2 days a week, S/E i know i see regularly, 4 or 5 days a week.
Also regard holidays, I have long weekends off, and accountancy fees are £900 a year but i get commission from him for introducing new clients, so far i will get £270 back at end of year.
Back to last financial year i work it out at £500 week take home for 44 hours a week. that enough for me, plus i get regular work and am a preferred driver at 2 places
andy187:
Adam_Mc:
andy187:
Adam_Mc:
… “why bother going through all this extra hassle for the same money and possibly less work?”…
I get paid at least £1 an hour more than PAYE (some jobs £3 p/h more)
And i pay a lot less tax (thanks to a good accountant)
true no holiday pay as such, but last year i turned over £29k and payed £2K tax
and i averaged 44 hours a week.
But you don’t get holiday pay, which lets face it, is why you’re paid more ph, and you say you pay less tax, but you have to pay an accountant and to top it all of, self employed are usually last to be picked for any work…so all things considered, I doubt you’re realistically much better off than a normal agency driver.
Agency would rather use S/E, as they do not have to pay any NI or holiday pay,
other PAYE drivers have had bad 2 months, 1 or 2 days a week, S/E i know i see regularly, 4 or 5 days a week.
Also regard holidays, I have long weekends off, and accountancy fees are £900 a year but i get commission from him for introducing new clients, so far i will get £270 back at end of year.
Back to last financial year i work it out at £500 week take home for 44 hours a week. that enough for me, plus i get regular work and am a preferred driver at 2 places
jeez…you must be sucking some good ■■■■■ if you’re taking home £500 a week for 44 hours lol But surely if you’re averaging about £500 take home a week…you must be on more than 36k easily?
Adam_Mc:
jeez…you must be sucking some good ■■■■■ if you’re taking home £500 a week for 44 hours lol But surely if you’re averaging about £500 take home a week…you must be on more than 36k easily?
£29K - £2K company tax (slightly more) - £900 accountancy fees = £26000 / 52 = £500
i work nearly every Sunday and all Bank holidays where legally possible and on late shifts as well. better rates and no getting up early
andy187:
Adam_Mc:
jeez…you must be sucking some good ■■■■■ if you’re taking home £500 a week for 44 hours lol But surely if you’re averaging about £500 take home a week…you must be on more than 36k easily?
£29K - £2K company tax (slightly more) - £900 accountancy fees = £26000 / 52 = £500
i work nearly every Sunday and all Bank holidays where legally possible and on late shifts as well. better rates and no getting up early
Ok fair enough…I’ve realised the error of my ways. I base things by what I know…I know Sainsbury’s basic salary is 36k pa and they’re on £500 take home pw too…but seeing as you only pay 2k tax that’ll be why…how are you able to pay so little tax though?
Well Adam_Mc I have to agree is with andy187 on this one…
Although my accountant is a lot less than his… I pay between £200 and £500 a year in total for the whole business so that includes:
My driving,
My online sales,
My off-line sales at shows etc,
my mobile shop trailer hire, (yes I rent it when not in use)
and the Holiday let… (when it’s finished. 
)
Paying little tax is because all costs from things like: work clothing, work boots, TruckMate Satnav, mobile phone, Diesel or petrol for your car, part of your internet, part of your house rent (for office use), part of your car insurance etc…etc… etc…
are company responsibility and go through as costs, so does the directors wage etc…etc…
So in actual fact costs that you would normally pay for privately are paid by the company…
This means that at the end of the year there is only a bit of profit so minimal tax is paid.
As long as your books are in order all is well…
I do everything through the books so I pay more tax at the end of the year than andy187 but the more tax I pay the more money I put in my pocket as well if I wanted or it can be invested through the company…
Because if I make a lot of profit in the company and I pay a lot of tax then there will be plenty left for me to take as a dividend if I wanted…