20 replies to this topic

[BoboGib]

I'm considering doing this as currently my shift pattern means out of 28 days, I work 14 and have 14 off. Allowing for me to recover from my night shift then it leaves 11 days where I don't really do much apart from help the wife around the house and do jobs on the mini.

What I would like to know is if anybody does this and could offer some advice?

Thinking of just going into mobile car servicing, i'm qualified to do this and think it might be a way to get a bit of extra money through the door.

[shorty]

not done this but found out some bits and bobs when i was going to start up my own business

basically yes it can be done, you have 3 months to register as self employed from what i can remember

best thing to do is go to your local HMRC building and enquire about it as they are quite helpful

[BoboGib]

Cheers Shorty, On their website now but may have to go in a speak to someone as I can't find the info i'm looking for.

[Guess-Works.com]

Register as self employed...

http://www.hmrc.gov....lf-employed.htm

You will then pay an NI stamp..

That's it...

Takes about 10 minutes...

Then from a business point of view, if you are doing mobile mechanic type work you'll need public liability insurance and also some form of trade insurance which covers you and the work you perform ( basically protection against defect ), you can usually get all this in one trade policy.

You then need someone to keep the books for you and at the end of the year fill in your tax assessment form, both as an employee ( I assume PAYE ) and self employed individual.

[shorty]

Cheers Shorty, On their website now but may have to go in a speak to someone as I can't find the info i'm looking for.

the website is hit and miss

with tax and NIC, you only have to pay if your earning over a certain amount each year around 5000 for tax and 6000 for NIC (or vice versa i can't remember) but you can opt to pay your NIC if you so wish too

[BoboGib]

Thanks Guess-works. Is it in the application process that I tell them about my current full time job?

[shorty]

Thanks Guess-works. Is it in the application process that I tell them about my current full time job?

think you have to yes, i can't remember what i did with my form now but yes you you could well have to tell them your still employed

[BoboGib]

I know I have to tell them that I'm still employed for tax reasons, just trying to find the ins and outs of it. Just a thought at the moment but one I'm really considering. Was hoping someone on here would be able to tell me the ins and outs of having your own business as a second job.

[Guess-Works.com]

I know I have to tell them that I'm still employed for tax reasons, just trying to find the ins and outs of it. Just a thought at the moment but one I'm really considering. Was hoping someone on here would be able to tell me the ins and outs of having your own business as a second job.

If I remember rightly, was a year ago now... I just filled in the form, and that was it, I get billed once a quarter by the IR for my National insurance stamp..

I still work 4 days a week in a 'normal' PAYE job.

[BoboGib]

I know I have to tell them that I'm still employed for tax reasons, just trying to find the ins and outs of it. Just a thought at the moment but one I'm really considering. Was hoping someone on here would be able to tell me the ins and outs of having your own business as a second job.

If I remember rightly, was a year ago now... I just filled in the form, and that was it, I get billed once a quarter by the IR for my National insurance stamp..

I still work 4 days a week in a 'normal' PAYE job.

Ok,

Didn't realise it was as simple as that. So lets get this straight.

Buisness Plan (always good)
Register with HMRC
Sort out Insurance
Sort out accountant
Advertise
Do some work

[Guess-Works.com]

That sounds about right....

[MiniBonkerz]

BoboGib what other work will you doing other than servicing?

[WiredbyWilson]

I think you will have to request a Tax return each yar and fill out the employed and self employed pages (P60 from employer will give you half of the numbers).

You are better off setting up a DD to pay your NIC's monthly - pretty easy to do - about £12 month.

In regards of allowances before paying tax - you only get one, NOT one per job!! You will also have to play "catch-up" with NIC's as you will only pay basic rate based on you being "self employed". And i am assuming your employed job is paid at more that £6500 per year? This will mean you will owe Mr A Darling 20% of any additional "profits" you earn.

But bear in mind any "expenses" of your venture are deductable from the income generated (insurances etc).

Want anymore/bookkeeping info - pm me

Edited by Wilson1330, 09 February 2010 - 12:02 PM.

[davidv]

Sounds good and the advice.You must open a bus. account at the bank and they will give you an adviser to help you on that part.Buy the record books that the accountant likes.Keep every bit of paper receipts etc. When having all your plans set out the Gov. will provide you with a small bus. adviser free for a while.I was thinking of starting a thread on garage labour charges.There is still a big call for good honest mobile workers.One thing i have always loved is a top man who does the services and takes them to and back for there MOTS.He did it for years also sticking a workshop in his back garden.In his older years he made enough just doing that with a lot of customers.

[WiredbyWilson]

You don't need a business account, just accurate records should the revenue ask questions.

Obviously a business accoutn keeps monies seperate, but then after year one you have obscene charges to deal with as well.

As for business advisors, i'm sure that they are helpful for the most part. And as the OP says this is a kind of part time effort then I would really recommend testing the waters work wise before setting up bank accounts etc etc.

I have goen through this myself and deal with it daily - seems the most straight forward way.