Next step? Self-employed Ltd Driver?

UK PROFESSIONAL DRIVERS FORUMS THE UK PROFESSIONAL DRIVERS FORUM (INTERACTIVE)
1

I keep hearing that the best money is often for the divers who are self-employed and set up as Ltd company…

I have been self-employed in a different profession and can get my accountant to set me up as a ltd business… I am currently working as staff for a national haulage company covering a direct contract and will soon be hitting the six months experience mark.

  1. Can anyone tell me the Pro’s and Con’s of being set up as a Ltd company as a driver and what is the best way to target getting work?

  2. If it is through agencies which are the best for Opperating under this status?

  3. What are people getting paid?
    A) Hourly (before overtime)
    B) After Overtime
    C) How many hours before overtime?
    D) Night out rates?
    E) What expenses do you charge for?
    F) do you charge mileage from your base to their depot and back?

  4. Anything else I should be asking and have not?

2

Thruxton:
I keep hearing that the best money is often for the divers who are self-employed and set up as Ltd company…

No, the best hourly rate is. Overall over a year you may not be much better off than PAYE or a fulltime employee.

  1. Can anyone tell me the Pro’s and Con’s of being set up as a Ltd company as a driver and what is the best way to target getting work?

The pros and cons are the same as they were for you before. Its easier to find work if you’ve been around a bit as an agency driver, built up a good reputation and then just offer to go direct with the people you were driving for through the agency. If you’ve only been driving for 6 months you’re going to have all hell on finding a customer.

  1. If it is through agencies which are the best for Opperating under this status?

I would be careful going this route as its under scrutiny by HMRC.

  1. What are people getting paid?
    A) Hourly (before overtime)
    B) After Overtime
    C) How many hours before overtime?
    D) Night out rates?
    E) What expenses do you charge for?
    F) do you charge mileage from your base to their depot and back?

Do you really expect your competition to tell you what they charge? Did you tell your competition when you had your last business what you quoted for work and what you charged?

You can find out what agencies pay on PAYE/Ltd and then work out rates from that. All I will say that if you only have 6 months experience I’d go in low.

3

Thanks for the reply. Yes I did know what the competition charged because we often passed work between each other. If one was not paid by a company others would state that they were busy working for someone else to force the company to settle their bills… If someone became a dodgy payer we all knew what the score was… Working together in competition worked to our benefit… I do realise that the HGV world might be a little different but a lot of people have been very open and honest with me… The idea is not to be undercutting other people as that is a race to the bottom…

4

I was working on the M25 on “free recovery”. I was told that I had to become a “Ltd Co”. If I had, and it wet wrong, then the Corporate Manslaughter charge would have stopped at me, not the guy who was paying my wages

5

Thruxton:
I keep hearing that the best money is often for the divers who are self-employed and set up as Ltd company…

I have been self-employed in a different profession and can get my accountant to set me up as a ltd business… I am currently working as staff for a national haulage company covering a direct contract and will soon be hitting the six months experience mark.

  1. Can anyone tell me the Pro’s and Con’s of being set up as a Ltd company as a driver and what is the best way to target getting work?

  2. If it is through agencies which are the best for Opperating under this status?

  3. What are people getting paid?
    A) Hourly (before overtime)
    B) After Overtime
    C) How many hours before overtime?
    D) Night out rates?
    E) What expenses do you charge for?
    F) do you charge mileage from your base to their depot and back?

  4. Anything else I should be asking and have not?

6

Thruxton:
I keep hearing that the best money is often for the divers who are self-employed and set up as Ltd company…

I have been self-employed in a different profession and can get my accountant to set me up as a ltd business… I am currently working as staff for a national haulage company covering a direct contract and will soon be hitting the six months experience mark.

  1. Can anyone tell me the Pro’s and Con’s of being set up as a Ltd company as a driver and what is the best way to target getting work?

  2. If it is through agencies which are the best for Opperating under this status?

  3. What are people getting paid?
    A) Hourly (before overtime)
    B) After Overtime
    C) How many hours before overtime?
    D) Night out rates?
    E) What expenses do you charge for?
    F) do you charge mileage from your base to their depot and back?

  4. Anything else I should be asking and have not?

Hi.
I’ve been a Ltd company and I was on £120 a shift. But if u can get a decent hourly rate I.e £12 an hour then you will earn well. If u get a good accountant then u r tax will be low as everything work wise is laid off against u r tax