self employed part 2!

[Welshsparky]

Hello again

How do I go about registering myself as self employed and registering the company name. can anyone help?

Many thanks

 

[alarm man]

Hello again

How do I go about registering myself as self employed and registering the company name. can anyone help?

Many thanks

you can by them off the shelf as far as i can remember,for a fee of course

 

[Edd]

I got an accountent, he set my first Ltd company, by registering them with company house for a fee.. that company still excists but dosent trade.. your best bet is to speek to a good accountant..

 

[DurhamSparky]

speak to business link!!!!! they will put you in right direction...!

 

[merlinradioltd]

Phone HRMC and it can all be done over the phone if a sole trader from memory.

 

[D80]

Phone HRMC and it can all be done over the phone if a sole trader from memory.

Yep!

Need to register self employed, then when done register for CIS (in case you subby for a spark, work for a builder - be best to have it, or your getting taxed at 30% and not 20%). Can all be done in 2 phonecalls.

 

[GLENNSPARK]

why would you want to go `limited` when just starting out?....you go limited...then see if you can get finance.....no chance!!....
your best bet here is to firstly make sure that you have the relevent books (BGB and the OSG1st)...you will need the memerandum of guidance of the electricity at work regs.....a PDF download....either an MFT or seperates...your choice ..as long as they can carry out the relevent tests.....you will need current callibration certs for these.....an approved voltage indicator to GS38 together with a known source of supply (either a proving unit or the incoming side of a DP incomer is classed as a known source of supply)...obviously the tools to carry out works....drivers and snips...all VDE of course......relevent knowledge.....public liability ...£2,000,000 minimum....this will cost in the region of £75...£100 for a years cover......you need a job to show em....a C/U change is sufficiant here....
Better to go with elecsa....and i`l tell you why....
NIC require that the job used for the purposes of the assessment is registered with LABC first....so you can safely add about £180-£220 for that...
Elecsa on the other hand are of the opinion that you just notify the assessment job through them.....once you have been accepted onto their scheme....saving you £££££...friendly and easy to deal with n all.....

 

[telectrix]

one other point is that you only register a company name if you go ltd. as a sole trader, you can call your company anything you want to.

 

[Octopus]

If you are going it alone, the Sole Trader is the way to go.

Call HMRC and tell them and they will send you the relevent details for NI.

Would you trade as Joe Bloggs or Joe Bloggs trading as JB Electrical Services?

When you've decided on your name go and open a business account at the Bank too.

Not much too it really

 

[GLENNSPARK]

good advice from Tel and Murdoch...

 

[Welshsparky]

Thanks for help . I wasn't actually looking at going ltd, I purely meant for tax and NI reasons ...as you can all probably tell, I'm not clues up on the business side of it as of yet... but I'm learning! Thank you all

 

[oldtimer]

No matter what you do just ensure you pay your NI contributions because you may not think about it now but you need to pay a total of 30 years
to qualify for your state pension remeber things have chaged people who paid the NI got the basic pension but the people who did not ended up qualifying for income support which ironically gave them more money ie a reward for not bothering but not now so you can call the DSS and ask them how much credit you have and if so you can pay to make it up also a word to anyone reading this even if you are unemployed and may not qualify for benifit remember to keep signing on why you ask if you are not getting any money because every time you sign on you get a credit towards your state pension. My nephew said he could not be bothered as he would soon get a job well that lasted 14 months and that is 14 months less he has to work just for signing on and yes at 24 who cares but when he is 66 he will be glad he will not be told he has a shortfall.

 

[Deleted member 26818]

Have they started giving NI credits for people on the dole now?
They never used to.
Credits were only given to people on sickness benefit or income support.

 

[daimack]

I'm in the same position as you Welshsparky, just about to go solo but a bit in the dark about tax and related stuff. I went to a couple of the 'workshops' that HMRC run for the newly self employed. I'm sure that for the folk on here who have been doing it for years its stuff they already know but I found hem very useful, covering things like what you can and cant claim on your tax return, how and when to register as self employed and so on. They're free and last about 2 - 3 hours each. Details are on HM Revenue & Customs: Business Education and Support Teams Events
Good luck

 

[Octopus]

Have they started giving NI credits for people on the dole now?
They never used to.
Credits were only given to people on sickness benefit or income support.

Yes you get NI credits when signing on.

 

[oldtimer]

Have they started giving NI credits for people on the dole now?
They never used to.
Credits were only given to people on sickness benefit or income support.

Not a lot of people realise that DSS rules are if you sign on you get a credit towards your state pension although this does not kick in until you are 19-20 so you need to work for 30 years and pay your 52 weeks NI great but if you go abroad to work for 10 years at the age of 20 then you would have to work without a break until you were 60 to retain your state pension When I chucked it at 52 I phoned DSS pensions and enquired and I was told that I was fully paid up so I could get an exemption certificate not to pay class 2 if I wanted. Ironically if you are a waster as they say up here and have been unemployed for most of your adult life then you get full credits towards your state pension but here is the rub my old mum who died last year and worked all of her life got £2.30p a week extra pension(State Pension 2) so she had to pay £50 a towards her rent and £35 towards her rates and she got a £100 cold weather payment but the 2 wasters next door qualified for Income Support as they were termed as poor so they never paid a penny towards their rent or rates making them £85 a month better off than my mum and when the cold weather payment kicked in they got £200 because they were "poor"