New electrician look for advice

[Midwest]

Advice him of the pitfalls, but don't tell him not to do it, as any father knows about how their fatherly advice is received.

 

[Octopus]

I suppose the obvious question is why does he want to go SE?

There won't be any sick pay, holiday pay, pensions ........ so be VERY careful when you do any sums.

Its NOT easy going from a salary to building a reliable income on your own .............. believe me - I've done it

 

[ashley postans]

Hi all,

Thanks for all the responses, give me a lot to think about. Myself going SE isn’t a matter of when it’s more of a matter of IF. I’m from Cornwall originally, but currently live in London with my Mum. The plan is to eventually move back to Cornwall and go self employed there, to be closer to my family, and to return home.

 

[Octopus]

^^ good man.

There's no harm in having aspiration and planning.

As for overheads, if you allow £500 per month (excluding buying a vehicle) then you will be about right. It may seem a lot but this is what I use and I've been SE for 8 years.

If and when you go SE, do consult an accountant AND keep all receipts, irrespective of what they are for....(within reason)!

 

[ashley postans]

^^ good man.

There's no harm in having aspiration and planning.

As for overheads, if you allow £500 per month (excluding buying a vehicle) then you will be about right. It may seem a lot but this is what I use and I've been SE for 8 years.

If and when you go SE, do consult an accountant AND keep all receipts, irrespective of what they are for....(within reason)!

It's all in the planning! will defiantly bear the figure in mind. I have already started getting in the habit of using quick books self-employed and taking pictures any and all recites of buying things like tools. Will look into accountants nearer the time.

 

[Midwest]

Good luck Ashley, don't keep asking

 

[telectrix]

Good luck Ashley, don't keep asking

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[Pete999]

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What he said ^^^^^^^^^^^^^^^^^^^^^???????

 

[kingeri]

Whatever you plan for and write down now in terms of projected costs and revenues, when you do go SE you will find the real world is nothing like that!

 

[Rpa07]

Good luck Ashley, don't keep asking

Probably looking at the missus when he wrote that!
Don’t stop asking Ashley!