how bad/good is this idea? what upfront costs am i looking at?
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Bad idea. Has to be a legitimate operation rather than a vehicle for avoidance. It, the agency would need insurances etc to manage you as one of its clients, but you can’t be your own and sole client of the agency.
The agency, if it were legit would have to deal with your tax etc, then after the 12 weeks (I think that’s the time) you as the agency have to provide you as the client with the usual employee benefits.
Shall we go on!
how about making my wife to start agency and hiring only me as a driver?
Read the first part again. Has to be a legitimate business and not a vehicle for avoidance. So your wife would have to provide the insurance, your wife would have to provide the related long term agency benefits, then, as a business have to pay the various business taxes, returns etc as taken on the liabilities when you f’up😂
And of course, you would be under contract to your wife:joy:
Perhaps you’d like some contact numbers for marriage guidance councillors
i would totaly set it up the right way if i was going to go ahead. im just seeking opinion if it makes sense at all from financial perspective. if it was legal id keep her out of ofc
It would be difficult to persuade someone that it was an agency if it had only you as the sole client!!!
Then, it’s persuading a company / operator to take on the agency and you as its only driver. If they did their due diligence then you’d never get any work. If they didn’t do their due diligence then it’s as likely you’d get payment problems later on
Just a few off the top of my head… Public liability insurance will be a minimum, lots of agencies end up paying the bill for their employees mullering the clients vehicles. Then you’ll have all the accounting and invoicing stuff that goes along with it. In effect, you’re trying to circumvent IR35 rules.
Oh not to mention, if you ever find yourself with it coming out of both ends, it’ll be YOU that’s footing the bill for a replacement bod, or a potential breach of contract claim.
Put simply, don’t waste your time. There’s enough greedy agency ■■■■■ in this game as it is. You can earn more than enough money fleecing them.
So your be only driver. Not good as if places ring you offering work you can only be in one place at a time.
If you start refusing work because of this places will be reluctant contact you again.
Maybe if you had a few mates willing to drive help you out.
Or maybe just get a truck or rigid and set up on your own as a driver