Afternoon,
I retired 2 years ago, at 55, and I cant believe I am saying this but I am bored.
My mrs has suggested setting myself up as a small job, handyman, hubby for rental. As in small DIY jobs, assembling flat pack furniture, odd jobs, etc.....
I know i need public liability insurance but cant find this on line does it now go by a different name?
Will i still need to buy stamps? are these still in existence? or is it NI payments now?
I will up my car insurance to cover business and if its viable a work/fishing van will be on the cards
Not looking to make a fortune at this, just enough to cover my overheads, buy some fishing goodies and treat the mrs! Work/life balance over riches.
Don't want to go to the expense of an accountant, but if required will do this.
Any tips, suggestions or advice greatly received
I retired 2 years ago, at 55, and I cant believe I am saying this but I am bored.
My mrs has suggested setting myself up as a small job, handyman, hubby for rental. As in small DIY jobs, assembling flat pack furniture, odd jobs, etc.....
I know i need public liability insurance but cant find this on line does it now go by a different name?
Will i still need to buy stamps? are these still in existence? or is it NI payments now?
I will up my car insurance to cover business and if its viable a work/fishing van will be on the cards
Not looking to make a fortune at this, just enough to cover my overheads, buy some fishing goodies and treat the mrs! Work/life balance over riches.
Don't want to go to the expense of an accountant, but if required will do this.
Any tips, suggestions or advice greatly received
In reply to Post #1
public liability comparison Can be found here.
No idea about much of it as I'm not self employed but my dad and a few friends are. I'll be seeing one tonight so can ask him later on unless you get answers before that
public liability comparison Can be found here.
No idea about much of it as I'm not self employed but my dad and a few friends are. I'll be seeing one tonight so can ask him later on unless you get answers before that
In reply to Post #2
Thanks just did that and all good.
Don't know why but nothing came up on my initial search
probably fat finger error
Thanks just did that and all good.
Don't know why but nothing came up on my initial search
probably fat finger error
In reply to Post #3
Hiya mate
Get yourself a meeting with an accountant. I did it when I set up as a sole trader for my acting work way back when.
You can set up a direct debit for your basic rate NI contributions.
They can help you with all your questions and I found that using them to submit my accounts each year was very simple and the cost (about 200 - 250) is a tax deductable expense so works out as a zero cost.
Hiya mate
Get yourself a meeting with an accountant. I did it when I set up as a sole trader for my acting work way back when.
You can set up a direct debit for your basic rate NI contributions.
They can help you with all your questions and I found that using them to submit my accounts each year was very simple and the cost (about 200 - 250) is a tax deductable expense so works out as a zero cost.
In reply to Post #4
Evening matey
I used to be self employed plumber/heating engineer before my final career choice but 27 years later I've forgotten a lot of the ins and outs of self employment. A good accountant is worth their weight in gold as he paid for himself out of my earnings and I paid no tax for the first 2 years worth every penny 😀 as this will be basically for pocket money I didn't want to much outlay 😀 will see if I can find one that does a free consultation 👍🏻
Are you back in work yet or did the algorithm downgrade you 😀 stay safe
Evening matey
I used to be self employed plumber/heating engineer before my final career choice but 27 years later I've forgotten a lot of the ins and outs of self employment. A good accountant is worth their weight in gold as he paid for himself out of my earnings and I paid no tax for the first 2 years worth every penny 😀 as this will be basically for pocket money I didn't want to much outlay 😀 will see if I can find one that does a free consultation 👍🏻
Are you back in work yet or did the algorithm downgrade you 😀 stay safe