Starting Up

Lecciv · Feb 15, 2014

I have worked for a nsi gold security company for the last fifteen years whose main business is intruder and fire alarms. I also install CCTV and door access.

This maybe the wrong place for me being mainly a 12v installer(i expect some stick) but i am keen to hear any advice on going self employed.

I am now in a position where i am mortgage free have enough money in the bank to keep me going a year or two. With no dependants either i really don't need a regular job at present so the self employed route appeals to me greatly.
Ideally i would not be looking to build my own customer base but sub contract or temp contract with existing firms. I have a few contacts and am reasonably confident of picking up some work early on and i'm sure this would lead to more. Anyway i could always go back to a regular job if i fail so i really don't have much to lose.

Thing is i have no idea on where to start.

First thing to do is register as a sole trader and name my business? I think this would be relatively easy as it can be done online.
Am i right in saying i could do this now whilst i am currently employed?

If i did set up as a sole trader would i be expected to pay NI on top of what i currently pay with my employer?

If i never actually did any work as a sole trader would i still be expected to fill in a tax return form at the end of the year?

These are just a couple of questions that i have and may seem a little dumb to some but searching the net hasn't proved fruitful with answers so far.

Anyway if anyone has any tip and hints please let me know.

Cheers,

Lecciv

Marvo · Feb 15, 2014

Welcome to the forum Lecciv. We do have a locked forum for professional alarm installers but you require >30 posts to qualify for access so if you're around for a while give one of the Staff members a nudge for access when you get to the thirty post mark..

Octopus · Feb 15, 2014

Hi. Suggest you peruse the Business Section - there are countless threads anddposts on becoming self employed

shanky887614 · Feb 15, 2014

Lecciv said:
I have worked for a nsi gold security company for the last fifteen years whose main business is intruder and fire alarms. I also install CCTV and door access.

This maybe the wrong place for me being mainly a 12v installer(i expect some stick) but i am keen to hear any advice on going self employed.

I am now in a position where i am mortgage free have enough money in the bank to keep me going a year or two. With no dependants either i really don't need a regular job at present so the self employed route appeals to me greatly.
Ideally i would not be looking to build my own customer base but sub contract or temp contract with existing firms. I have a few contacts and am reasonably confident of picking up some work early on and i'm sure this would lead to more. Anyway i could always go back to a regular job if i fail so i really don't have much to lose.

Thing is i have no idea on where to start.

First thing to do is register as a sole trader and name my business? I think this would be relatively easy as it can be done online.
Am i right in saying i could do this now whilst i am currently employed?

If i did set up as a sole trader would i be expected to pay NI on top of what i currently pay with my employer?

If i never actually did any work as a sole trader would i still be expected to fill in a tax return form at the end of the year?

These are just a couple of questions that i have and may seem a little dumb to some but searching the net hasn't proved fruitful with answers so far.

Anyway if anyone has any tip and hints please let me know.

Cheers,

Lecciv

There are others who work regually on 12v.

We do bms as well as door access so 24v as well sometimes (not very often doors are 24v though)

Lecciv · Feb 16, 2014

Marvo said:
Welcome to the forum Lecciv. We do have a locked forum for professional alarm installers but you require >30 posts to qualify for access so if you're around for a while give one of the Staff members a nudge for access when you get to the thirty post mark..

Ok cheers. 30 posts is alot though

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Murdoch said:
Hi. Suggest you peruse the Business Section - there are countless threads anddposts on becoming self employed

This is the Business Section!

Octopus · Feb 16, 2014

Lecciv said:
Ok cheers. 30 posts is alot though

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This is the Business Section!

So start perusing then!

imago · Feb 16, 2014

Lecciv said:
I am now in a position where i am mortgage free have enough money in the bank to keep me going a year or two. With no dependants either i really don't need a regular job at present .....

Thing is i have no idea on where to start.

Lecciv

Given your circumstances I'd recommend the Caribbean.