Perfect timing...

[peterkonczak]

Hello All,

What with the recession looming I thought the end of 2008 would be the perfect time to quit my safe job in Accounts after 10 years, go travelling around South America for 2 months, and then try to start off in the trade - as a Carpenter / Joiner (I recently finished the Institute of Carpenters awards and have been doing 'weekend work' for about a year).

I know, I couldn't have timed it better. Anyway, I was just wondering what the best thing to do is regarding setting up a company or being a Sole Trader or how a Tradesman usually sets up when first working for him/herself...

Any advice would be greatly appreciated.
Sorry if this is covered in another topic already.

Cheers,
Pete

 

[Deleted member 105431]

Are you clinically insane?

 

[peterkonczak]

Perhaps. Or incredibly stupid. Or just bloody unlucky. Probably a bit of all 3.

 

[noseall]

Hello All,

What with the recession looming I thought the end of 2008 would be the perfect time to quit my safe job in Accounts
Anyway, I was just wondering what the best thing to do is regarding setting up a company or being a Sole Trader or how a Tradesman usually sets up when first working for him/herself...

for a start you need a good accountant.

 

[peterkonczak]

[/quote]

for a start you need a good accountant.[/quote]

Indeed, a Qualified Chartered Accounant or Financial Advisor, unfortunately they're not too cheap so I was hopin for a heads-up!

 

[breezer]

Indeed, a Qualified Chartered Accounant or Financial Advisor,

there is your problem

you are looking for something you dont need.

what use is a finacila advisor to you? ypou need an acountant.

but you can do without for your first 6 months of trding, just keep all recipts for anything.

oh and by the way, as your financial advisor thats £50 please

 

[Thermo]

for a start you need a good accountant.[/quote]

Indeed, a Qualified Chartered Accounant or Financial Advisor, unfortunately they're not too cheap so I was hopin for a heads-up![/quote]


look for a decent accountant or a decent bookeeper. a decent bookeeper (and i mean decent) will be able to do much of the legwork for you very cheaply. A decent accountant will advise the best way to set yourself up and what things you can claim for, and the best way to save money by making submissions on line etc. (youll be surprised what you can claim for!)

Its a good idea to set up the bank accounts so youve got a seperate one to put by the money that will go to the tax man. He needs to be paid on time without fail!