i could of had a job class 1 if i passed the assameant but it was self employed 400 a week plus 20.50 night out money. Does it work out better to be self employed or stay away. From some that hasnt dont it im after some advice please.
was this via an agency or direct to the opperator themselves?
also how long do you figure (if you took the job) youd stick it out? If its only short term then S/E isnt really viable
Sounds like crap money for PAYE, never mind S/E
Self employed by a mile.
You get to claim your expenses and things so works out better.
stagedriver:
Self employed by a mile.You get to claim your expenses and things so works out better.
only every april and in arrears so eventually better off but not short term !!
self employed is a lifestyle not a quick fix!!
An Agency will normally pay you a pound an hour more, plus when you invoice them theres a 20% vat charge, you keep 10% of this so its £11.00 an hour you’re really getting.
You can claim for business expenses like mileage, meals, phone, laundry and certain other expenses related to your work.
Usually the extra pound you get from the flat rate vat scheme will then cover any tax, so your take home pay is the original £10.00 an hour.
For instance 60 hours at £10.00 an hour is £660 less tax after expenses is profit of £600.
Disadvantages are low expenses i.e you live next door to the place you work and no holiday pay, you will not get a Mortgage or remortgage for at least two years if you require one, work is not guaranteed.
I am far better off SE but I am at 9000 miles travel already.
Now I could claim this mileage back every April if I was through the books with agency and then get Holiday pay but I would earn £2.00 an hour less and in my time through the books with agencies I had never saw a lick of holiday pay.
Now you will get trumpets on here who think nobody chooses Agency work but they haven’t a clue what they are prattling on about.
My last job had an OT ban towards the end of my employment so I was getting £340 after tax and I was travelling 50 miles a day round trip which I had to pay myself out of that plus my expenses for meals, I chucked it to go back to Agency almost 2 years ago because I couldn’t pay my bills with that.
I work 3 days a week for that with Agency and I can pretty much do as I please so even if Agencies quiet I still generally get what I was getting when full time and when busy I double my wages.
I have an invoice for last week for £925 including vat, take off about £80 pounds for vat and the rest is mine, before I tax myself I take off yearly allowance split into 52 weeks and deduct my expenses so I pay very little tax on that, at a guess about £80 so my take home pay is around say £750.
Do not trust any Agency but if you say yes to most shifts you will get lots of hours.
I do every shift they ask except between the hours of 20.00 on a Saturday night and 07.00 Sunday morning.
Hope this helps and as you are quite new to it you should get an accountant, if with a Contracting company they will offer you this service for a fixed weekly fee but it works out dearer and they are generally useless.
Also depends if you are VAT registered as to weather you can claim that back
If you are a LTD comp then you can avoid paying income tax 
There are many courses run by HMCR that can help with self employment these are free
You will of course have to do your own tax returns pay your own NI etc
If SE you cant work all the time for said same comp have at least 2 you work for as the tax office may see this as employed
Yes you can claim for a lot when SE
There is obviously some things I have left out but animal is bang on and vat returns are done every three months not yearly also.
An Accountant is your best bet and he is tax deductible also.
One of my agencies don’t do ltd company and they give me a lot of work, so check that too if you go that route.
Nothing in the rules states you must deal with Agencies, I know some who get the work themselves but I can’t be arsed, its like job hunting to me and I want as little hassle as possible. lol
Dan_1986:
i could of had a job class 1 if i passed the assameant
You failed the assessment then?
Stan
waynedl:
Sounds like crap money for PAYE, never mind S/E
My sentiments exactly.
Stan
I was for a company not via a agy i was just wondering whats the best way to go.
I havent had the assessment as i work sat and they can only do it on a sat… But the nopay if the wheels arent turning doesnt seem a good idea when i have a young family, im just seeing whatsbout there at the moment and there isnt much.
Dan
Dan_1986:
I was for a company not via a agy i was just wondering whats the best way to go.I havent had the assessment as i work sat and they can do it on a sat… But the nopay if the wheels arent turning doesnt seem a good idea when i have a young family, im just seeing whatsbout there at the moment and there isnt much.
Dan
If my pay wasn’t so low or I could have still did OT I would never have chucked my full time job.
I was 4 on 4 off but did 5 and 6 so my money was o/k but still a bit ■■■■ if you get my meaning. lol
I would never advise anyone to chuck a full time job for Agency work, I already knew said Agencies and phoned them first to make sure they still had the same staff in their Offices so felt pretty safe, I also waited till the end of April before handing my notice in.
February-March I was getting around 3 shifts a week but that was still the same as my Job, the rest of the year I am sorted and I don`t really bother with a Holiday, a wee long weekend here and there as I hate the sun tbh.
animal:
Also depends if you are VAT registered as to weather you can claim that back
You’d be mad not to be to take advantage of the flat rate VAT scheme and get a 10% payrise for nowt.
If you are a LTD comp then you can avoid paying income tax
No you can’t - at least not in the way you’re implying. You will pay the same tax on £10k of income whether you draw it as a divvy or as wages.
"…myself out of that plus my expenses for meals, I chucked it to go back to Agency almost 2 years ago because I couldn’t pay my bills with that.
I work 3 days a week for that with Agency and I can pretty much do as I please so even if Agencies quiet I still generally get what I was getting when full time and when busy I double my wages.
I have an invoice for last week for £925 including vat, take off about £80 pounds for vat and the rest is mine, before I tax myself I take off yearly allowance split into 52 weeks and deduct my expenses so I pay very little tax on that, at a guess about £80 so my take home pay is around say £750."
Even if the £925 was for the 60 hours rather than 3 days worth, with night out on top, I’m thinking you’re invoicing for around £15ph rather than £10-£11 here.
If you are out a whole week on a tramp, is there a way of actually invoicing for the entire length of time away, ie. 6x24 hours?
I keep getting told I’m wrong when I suggest that being paid for more than 60 hours a week isn’t on. 
If you can’t be paid £10ph for 90 hours (on duty) a week, then get paid £15ph for 60 hours per week. Makes more sense that way, so is that what’s being shown here above? 
No mate, I said if I do three days with agency I get as much as I did for 4 on 4 off in my last Job, I should say the wages were crap.
That invoice is for night shift at three different rates. Sunday, Monday on store work and the other four nights for ADR work which pays an extra £1.50.
Total it and charge 20% VAT of which I keep half.
The ADR pays 12 but it only takes you 8.30 so I am getting paid for more than 60 (around 66) but doing less than 60.
I showed a pretty high wage to show the advantage of the VAT and expenses to save paying lots of tax but showed a 60 hour example.
If I do 40 hours on day shift then the take home pay is £400 after deductions, but through the books I would get £400 less tax but haven’t been lucky enough to get full time at £10.00 an hour, so even less.
Trying to explain a pro of it but there is some cons. its just better for me due to my expenses, I would have to travel for any job as theres ■■■■ all where I live.
Dan_1986:
I was for a company not via a agy i was just wondering whats the best way to go.I havent had the assessment as i work sat and they can only do it on a sat… But the nopay if the wheels arent turning doesnt seem a good idea when i have a young family, im just seeing whatsbout there at the moment and there isnt much.
Dan
Sorry just had a wee look at your reply again and that sounds a bit dodgy, very low rate unless you’re only doing 40 hours tramping and it looks like you will be working in one place which really makes you an employee, the tax man would automatically consider you an employee after two years and hunt you for backdated tax, i.e. 29% of all the expenses you claim for two years.
With the way you have explained it, I wouldn’t go near it.
Conor:
animal:
Also depends if you are VAT registered as to weather you can claim that backYou’d be mad not to be to take advantage of the flat rate VAT scheme and get a 10% payrise for nowt.
If you are a LTD comp then you can avoid paying income tax
No you can’t - at least not in the way you’re implying. You will pay the same tax on £10k of income whether you draw it as a divvy or as wages.
no you wont conor youll only pay corperation tax even on 20k wages expenses and divy you wont pay any income tax on it
Dan_1986:
I was for a company not via a agy i was just wondering whats the best way to go.I havent had the assessment as i work sat and they can only do it on a sat… But the nopay if the wheels arent turning doesnt seem a good idea when i have a young family, im just seeing whatsbout there at the moment and there isnt much.
Dan
this is why I asked
peirre:
was this via an agency or direct to the opperator themselves?
As I suspected you`d get a lot of responses asuming that it was for an agy
working self employed in the transport industry isnt suitable in the short term. Nor is it suitable for someone who has a young family and regular financial commitments to meet (morgage etc) where the money from driving is the only source of income Its more suited to older, more financially stable indeviduals who are debt free, the kids have flown the nest. Where regular cash flow isnt imperitive to keep a roof over their heads, and food on the table