can any body give me some advice on starting as a self employed driver?
i have just been offerd a job good hours,trip money sounds good. i know the guy, an owner he wants me to go self employed [pay my own tax and insurance] the wages are good enough to make a decent wage after paying tax and insurance i was just wondering what the best way was to go about it i know some agency work this way. any advice would be greatfull
You will need to start by getting in contact with the inland revenue and get a utr (unique tax reference) you wont be able to do a lot without one of these. The owner should be stopping your tax (20%) and you sort out your own n.i.
Hope this helps.
will the local job center be able to help me out with this? i was se60 about 20 years ago when i was working as a roofer my employer piad tax and i paid ni, i wasnt sure if it was still the same set up as he wants me to pay my own tax
Register as self-employed
I want to…
We recommend:
You can go on-line to register. First steps to register as self-employed.
From HMRC website.
You can telephone the Newly Self-employed Helpline on 0845 915 4515
You can download and print an application (PDF 201K) to post to HMRC.
If you have an agent who will be completing the form for you, you must first ensure that you have signed a form 64-8: Authorisation your agent, which gives formal agreement for your agent to act on your behalf.
Before you register as self employed, you may want to look at the following:
Self Employment and Self Assessment
Being self employed means you will need to complete an annual Self Assessment Return. This page answers frequently asked questions on this subject.
Starting up in business
These pages aim to help you understand some of the many things you need to think about when you’re running a business, especially the main tax and National Insurance issues.
Hi TAM give this guy a ring he will sort everything out for you my mate’s with say’s he’s good
Paul King KPB 01788 550176 he will help with tax and insurance
rubyroo2:
The owner should be stopping your tax (20%)
Wrong.
As a self employed driver, you are like any other self employed person/contractor, insofar as you are responsible for your own tax, but the figure of 20% you have quoted is what I take off before I pay myself.
You invoice the person who you are doing the work for, and he pays you. You then have to deduct any normal stoppages, and then what’s left is yours.
If the op would care to pm me, I will point them in the right direction.
Ken.
do i need an acoutant to deal with tax? i remember paying ni by d/d set up at the bank, same amount every quarter but employer paid tax
is it just a case of saving 20% of my earning and paying the tax man at end of financial year
how does the tax office know how much i’v earnd to calculate how much tax i have to pay?
does the employer give me a wage slip so i can show to tax office?
can i claim back expenses such as parking etc or do i still claim that back from employer?
thanks tanasan i’ll give that guy a ring
quinny, im no so hot on computers. how do i pm you? [sorry thick as mince]
rubyroo2:
You will need to start by getting in contact with the inland revenue and get a utr (unique tax reference) you wont be able to do a lot without one of these. The owner should be stopping your tax (20%) and you sort out your own n.i.
Hope this helps.
The owner will only stop 20% if it’s paid under the Construction Industry Scheme (the modern version of the old SC60 scheme). It is doubtful that a driver would be paid under this scheme.
A UTR is issued as soon as you register as self employed.
tam:
do i need an acoutant to deal with tax? i remember paying ni by d/d set up at the bank, same amount every quarter but employer paid tax
is it just a case of saving 20% of my earning and paying the tax man at end of financial year
how does the tax office know how much i’v earnd to calculate how much tax i have to pay?
does the employer give me a wage slip so i can show to tax office?
can i claim back expenses such as parking etc or do i still claim that back from employer?
Find a good accountant. They will give you the best advice and should save you more in tax than the cost of their fee. They will advise on record keeping and all the other responsibilities you need to be aware of.
tam:
quinny, im no so hot on computers. how do i pm you? [sorry thick as mince]
Click on the pm button to the left, under my username.
<<<<<<<<<<<<
Ken
Stands back, watching this thread …
quinny, theres no pm or envolope symbol under your user name. i see it on other useers but not yours
I see it.
44tonne ton, i see the envolope under yours but not quinnys. dont see anything saying pm anywhere
peirre:
Stands back, watching this thread …
Waiting for things like ‘NOVA’ and ‘Limited Company’ to be mentioned perhaps? Or seeing what duff advice is giiven out!
nova and ltd company are both things iv heard agency drivers rattling on abt whilst waiting in rdc’s. is it a load of toilet
tam:
nova and ltd company are both things iv heard agency drivers rattling on abt whilst waiting in rdc’s. is it a load of toilet
Trawl the Trucknet site and you’ll come up with about a dozen topics a week all on the same subject!
NOVA is just a company that basically does your administration for you and charges a fee. A half decent accountant will do the same job for a fraction of the price!
Limited company is all well and good if the rates are right - which more often than not if you’re working for an agency, they are not!
not sure if this is correct or not but was told a few years ago that unless you worked for several different compenies in a year you could not class your self as self employed as if you work for one compeny you are deemed as a sole trader or something like that and need a operators cpc and poss an o license like i said not sure if this is right or not maybe someone on here knows more.