Groups

    Any self employed people here to help/advise?

    I am thinking about going self employed,but don't know anyone who is self employed to give me an idea of what to do and how to start.I was thinking about becoming a Courier,but don't know how easy/hard it is to be self employed.Anyone out there has a good experience/contact on people who could help me look at alternatives?
    I was made redundant almost 6 Months ago and Jobcenre Plus are useless.
    Any ideas of what I could do would be helpful.
    I don't have any former qualifications,only work experience in manufacturing,restaurant and some driving.
    Really don't know what to do..:'(..Help,please

    26 Comments

    Banned

    claim working tax credits for being self employed the money you get all depends on circumstances but you can also get child care costs

    check how much you are entitled to here

    taxcredits.inlandrevenue.gov.uk/Qua…spx

    then at least you dont have to go job centre and made to go for jobs you dont want or wont get

    Go on HMRC and look on there. They have plenty of advice on there. Its not that difficult going self employed, you just have to save your tax/national insurance contributions as you go along.

    As for being a courier, its a competitive market. There are a lot of couriers out there, unless your working for a company and being self employed.

    Quite easy being self employed. Expect to do a fair bit of repetition regarding the form filling for your tax. Most of the info they already know but you've got to collate it all for them again!

    Wouldn't be a courier tho, got a feeling you'll make virtually no money from that.

    Banned

    if you do go self employed make sure you claim the working tax credit and put income down as zero depending on circumstances if you have young children you get more for their nursery fees also if you rent then your rent is paid by housing benefit

    all this is great to become self employed it meens you still get money and not as many worries while you are trying to build up your business

    churchill;5595054

    if you do go self employed make sure you claim the working tax credit and … if you do go self employed make sure you claim the working tax credit and put income down as zero depending on circumstances if you have young children you get more for their nursery fees also if you rent then your rent is paid by housing benefit all this is great to become self employed it meens you still get money and not as many worries while you are trying to build up your business



    working tax credits depend on if the op has kids, works over 30 hours etc.

    Banned

    bargainhunter2009;5595113

    working tax credits depend on if the op has kids, works over 30 hours etc.



    i did say about the kids but even if he didnt have kids he would still get rent paid and about £50 a week it all helps

    as for hours he puts down 45

    Wow guys just read all your comments. I work 28 hrs as a childminder are you telling me if I increase my hrs to 30 I will claim benefits from IR????

    Mrs O;5595392

    Wow guys just read all your comments. I work 28 hrs as a childminder are … Wow guys just read all your comments. I work 28 hrs as a childminder are you telling me if I increase my hrs to 30 I will claim benefits from IR????



    Do you have children? If not, subject to your income IF you work over 30 hours a week you may get working tax credit

    Banned

    Mrs O;5595392

    Wow guys just read all your comments. I work 28 hrs as a childminder are … Wow guys just read all your comments. I work 28 hrs as a childminder are you telling me if I increase my hrs to 30 I will claim benefits from IR????



    put you work 45 you dont make money for for the other 17 hours as that work is drumming up business

    this way gives you the maximum amount of money:thumbsup:

    you do not need to have children to get working tax
    you do need to have children to get child tax

    churchill;5595054

    put income down as zero



    what?

    you can't put your income down as zero if it's actually not zero!

    Banned

    Benjimoron;5596774

    what?you can't put your income down as zero if it's actually not zero!



    who cant

    you put it down as zero and they amend it with the details they collect it just meens you get the most amount and dont mess anything up when filling in the form

    but thats normally at the end of the financial year and if they have over paid you they take it out of next years tax credits but they wont of over paid you if you have done your books right so you havent made any profit in that year infact made a loss

    Banned

    and when you start out as self employed as the op is talking about then his income is zero

    and any money he makes he will be putting it back in the business

    I've been self employed for over 12 yrs now.

    The financial situation at the moment is pretty tight for everyone, have to keep many fingers in many pies at the moment just to survive.

    Banned

    ClarityofMind;5597150

    I've been self employed for over 12 yrs now.The financial situation at … I've been self employed for over 12 yrs now.The financial situation at the moment is pretty tight for everyone, have to keep many fingers in many pies at the moment just to survive.



    many many pies:thumbsup:

    Original Poster

    Thanks for your ideas and suggestions,I will decide in the near futureon what to do and which direction to take.Would love to be my own boss,just a bit scared to get out there all by myself as I have never done that before and don't know anyone personally who is self employed to guide me.Thanx again to all of you..:D

    churchill;5597049

    who cant you put it down as zero and they amend it with the details they … who cant you put it down as zero and they amend it with the details they collect it just meens you get the most amount and dont mess anything up when filling in the formbut thats normally at the end of the financial year and if they have over paid you they take it out of next years tax credits but they wont of over paid you if you have done your books right so you havent made any profit in that year infact made a loss



    I don't understand? You'd tell them you expect to make nothing for the whole year??

    Banned

    Benjimoron;5600074

    I don't understand? You'd tell them you expect to make nothing for the … I don't understand? You'd tell them you expect to make nothing for the whole year??



    they ask how much you earn not how much you think you will earn in the future or for the year

    churchill;5600379

    they ask how much you earn not how much you think you will earn in the … they ask how much you earn not how much you think you will earn in the future or for the year



    Tax credits ask how much you expect to earn in the year, not the amount you've earned as of day one as that's always gonna be zero isn't it? There'd be no point in them asking that question!!!

    op, don't lie to tax credits, bad idea!

    ktony21;5600038

    Thanks for your ideas and suggestions,I will decide in the near futureon … Thanks for your ideas and suggestions,I will decide in the near futureon what to do and which direction to take.Would love to be my own boss,just a bit scared to get out there all by myself as I have never done that before and don't know anyone personally who is self employed to guide me.Thanx again to all of you..:D



    good luck with whatever you decide to do x

    Banned

    Benjimoron;5602212

    Tax credits ask how much you expect to earn in the year, not the amount … Tax credits ask how much you expect to earn in the year, not the amount you've earned as of day one as that's always gonna be zero isn't it? There'd be no point in them asking that question!!!op, don't lie to tax credits, bad idea!




    you expect to earn zero your just starting out, so unless your doing something like selling gold cheap then you dont expect to make the first year as you need to make contacts build up on customers and buy the items you need to run your business its not lying and its not breaking any rules i speak to tax credits other informative people tons because i like to know things these places dont like telling you how to do things to make the most of it

    there is a few of us that do it this way totally legal and you can check with tax credits, most people just dont get the best out of this things

    churchill;5604981

    you expect to earn zero your just starting out, so unless your doing … you expect to earn zero your just starting out, so unless your doing something like selling gold cheap then you dont expect to make the first year as you need to make contacts build up on customers and buy the items you need to run your business its not lying and its not breaking any rules i speak to tax credits other informative people tons because i like to know things these places dont like telling you how to do things to make the most of it there is a few of us that do it this way totally legal and you can check with tax credits, most people just dont get the best out of this things



    Fair enough if you think you'll actually make nothing in the first year. Most people would want to earn something from it as you'll need money to live.

    Banned

    Benjimoron;5605011

    Fair enough if you think you'll actually make nothing in the first year. … Fair enough if you think you'll actually make nothing in the first year. Most people would want to earn something from it as you'll need money to live.



    its a business at the end of the day and most lose or break even on average for the first 3 years

    you do need money to live thats why you get tax credits it might not be much to some people but its on par with job seekers allowance but you can try and make something and build a business when self employed on working tax credits and in this climate and the 1000s of people losing jobs every week its a different way to choose then going on jsa

    churchill;5605768

    its a business at the end of the day and most lose or break even on … its a business at the end of the day and most lose or break even on average for the first 3 yearsyou do need money to live thats why you get tax credits it might not be much to some people but its on par with job seekers allowance but you can try and make something and build a business when self employed on working tax credits and in this climate and the 1000s of people losing jobs every week its a different way to choose then going on jsa



    i certainly worked at a loss for the first year I was in business. Quickly teaches you to keep your outgoings to a minimum!!

    Banned

    ClarityofMind;5606291

    i certainly worked at a loss for the first year I was in business. … i certainly worked at a loss for the first year I was in business. Quickly teaches you to keep your outgoings to a minimum!!



    yeah agree totally i find that if people are going into business for themselves its best to start from nothing and work for what you want to get the business too that way you have minimum overheads and not have the risk of losing big although becoming limited company stops this mostly but you can still the business you just dont lose personal assets

    i personaly think if you havent a loss in business you cant really appreciate your earnings when you make a profit

    churchill;5606417

    yeah agree totally i find that if people are going into business for … yeah agree totally i find that if people are going into business for themselves its best to start from nothing and work for what you want to get the business too that way you have minimum overheads and not have the risk of losing big although becoming limited company stops this mostly but you can still the business you just dont lose personal assets i personaly think if you havent a loss in business you cant really appreciate your earnings when you make a profit



    I have the first amount of money I earnt as a self employed person framed on my wall.. it was £7! I was and still am so proud of it

    Banned

    ClarityofMind;5606451

    I have the first amount of money I earnt as a self employed person framed … I have the first amount of money I earnt as a self employed person framed on my wall.. it was £7! I was and still am so proud of it



    lol i have the first cheque i recieved and didnt cash it:)
    Post a comment
    Avatar
    @
      Text
      Top Discussions
      1. Win a luxury eight-night break for two in Malaysia with Ushvani Spa and Tra…11
      2. Win a luxury five-star break for two in Paris with Le Bristol Paris and Eur…67
      3. Win a Davosa Ternos Submariner Wristwatch worth £64545
      4. Win a flagship smartphone - the HTC U1134

      See more discussions