Ducati Sporting Club UK
Idle Chat
Still needs to be clean and of value to the club.
 
 
Thread Tools Display Modes
  #1  
Old 22-Nov-2005, 13:30
Tonio600's Avatar
Tonio600 Tonio600 is offline
Registered Forum User
Ducati in my Blood
 
Posts: 4,379
Join Date: Dec 2004
Mood: What a wonderful world.
Starting in freelance in the UK, is that complex or not?

Hi my favourite club, I need your help.

More and more I wonder if I must stay or not in my current company. It's a small company (10 people) with a new IT department set up last year. We're 3 IT developers and I'm the team leader. Eveything could be perfect if I wasn't more and more bored with that job. My mates are very good guys but sometimes I'm fed up doing their stuff again and again. Then most of the time I disagree with my boss about the way a problem must be dealt with. Sure I'm not always right, but I have much more experience than her for the specific job she employed me (web systems development). So days after days, I can't find the motivation to go to the office. And more and more I think about working for me. So I always agree with the boss, and I'm always really responsible for the mistakes

Is that a difficult thing to start? Any advice of how to do it (or why not to do it) will be more than welcome.
Quote+Reply
  #2  
Old 22-Nov-2005, 13:42
Ozz's Avatar
Ozz Ozz is offline
Registered Forum User
Cucciolo
Ducati in my Blood
Bikes: 848 Evo Corse
 
Posts: 4,941
Join Date: Sep 2003
Mood: Waiting for the revolution!
Go for it. I have clients who have. Fairly easy as far as I am aware:

Register with an agency - Dibble?
If do all your work through them then will probably need limited company or be put in one of the agency's composite ones.

Thats all! Apart from earn lots and enjoy the work more.
Quote+Reply
  #3  
Old 22-Nov-2005, 13:48
TP's Avatar
TP TP is offline
Registered Forum User
MotoGP God
 
Posts: 15,644
Join Date: Apr 2004
Mood: 749 racebike MGP
Tonio, I guess you could say I 'freelance'. I contract using a management company. It's quite easy to setup and plenty of different companies do it.

If you want to know who I use etc just send me a u2u and I'll give you some contact information.
Quote+Reply
  #4  
Old 26-Jan-2007, 00:58
Dibble
 
Posts: n/a
Quote:
Originally Posted by TP
Tonio, I guess you could say I 'freelance'. I contract using a management company. It's quite easy to setup and plenty of different companies do it.

If you want to know who I use etc just send me a u2u and I'll give you some contact information.

You'll need to check that your current solution remains compliant mate, if you are currently in a "composite" then the new IR56 legislation will screw you, and dont let your management company tell you any different, if you are already set up as a stand alone LTD comany then you'll be ok.

Tonio, you have a PM
Quote+Reply
  #5  
Old 26-Jan-2007, 01:08
Ozz's Avatar
Ozz Ozz is offline
Registered Forum User
Cucciolo
Ducati in my Blood
Bikes: 848 Evo Corse
 
Posts: 4,941
Join Date: Sep 2003
Mood: Waiting for the revolution!
Quote:
Originally Posted by DIBBLE
You'll need to check that your current solution remains compliant mate, if you are currently in a "composite" then the new IR56 legislation will screw you, and dont let your management company tell you any different, if you are already set up as a stand alone LTD comany then you'll be ok.

Tonio, you have a PM

Hes right ya know....
Quote+Reply
  #6  
Old 26-Jan-2007, 01:56
Ozz's Avatar
Ozz Ozz is offline
Registered Forum User
Cucciolo
Ducati in my Blood
Bikes: 848 Evo Corse
 
Posts: 4,941
Join Date: Sep 2003
Mood: Waiting for the revolution!
Quote:
Originally Posted by DIBBLE
You'll need to check that your current solution remains compliant mate, if you are currently in a "composite" then the new IR56 legislation will screw you, and dont let your management company tell you any different, if you are already set up as a stand alone LTD comany then you'll be ok.

Tonio, you have a PM

But Dibble, surely if hes a 1 man Ltd Co he'll be screwed by IR35 unless he has a good contract...
Quote+Reply
  #7  
Old 26-Jan-2007, 02:15
Si W's Avatar
Si W Si W is offline
Registered Forum User
888 at Last !!!
 
Posts: 914
Join Date: Dec 2006
Mood: Angry for being taken a mug
Quote:
Originally Posted by Ozz
But Dibble, surely if hes a 1 man Ltd Co he'll be screwed by IR35 unless he has a good contract...

As my new accountant can you expand on this?
Quote+Reply
  #8  
Old 26-Jan-2007, 12:51
Ozz's Avatar
Ozz Ozz is offline
Registered Forum User
Cucciolo
Ducati in my Blood
Bikes: 848 Evo Corse
 
Posts: 4,941
Join Date: Sep 2003
Mood: Waiting for the revolution!
Quote:
Originally Posted by Si W
As my new accountant can you expand on this?

Well sort of. Not an area of expertise but have had previous dealings. Best places to get info on this are:

http://www.shout99.com/contractors/index.pl?n=10

http://www.startups.co.uk/What_is_it...F1oEYn0nA.html

http://www.startups.co.uk/IR35_Who_d...P1oEYn0nA.html

The second 2 are the best.

In reality it is still a very grey area and always will be. If you are a contractor it is likely you have very little expenses (ones I have dealt with have at least) so the calculation actually benefits you slightly initially at least:

If you are under IR35 basically you take the total income, knock off 5% for expenses and the rest has to be a salary (which is where you lose out cos dividends save money).
Quote+Reply
  #9  
Old 26-Jan-2007, 10:41
Tonio600's Avatar
Tonio600 Tonio600 is offline
Registered Forum User
Ducati in my Blood
 
Posts: 4,379
Join Date: Dec 2004
Mood: What a wonderful world.
Quote:
Originally Posted by DIBBLE
Tonio, you have a PM

email sent.

Cheers,
Tonio.
Quote+Reply
  #10  
Old 22-Nov-2005, 13:52
Redruth's Avatar
Redruth Redruth is offline
Registered Forum User
Ducati Meccanica
 
Posts: 2,885
Join Date: Jul 2004
Mood: Fabulous
Can't comment on the IT side Tonio, but having only had about 12 months as an employee in the last 20 or so, being self employed and running your own business is infinitely preferable, especially if you are someone who can't stand to be ordered around by people who know less than you do.

I've also just set up a company, using an agent because for what it costs it's not worth doing it yourself. If you need any free advice on that, U2U me. Happy to tell you what I know about company formation, salary vs. dividends etc. People who know more about it than I do will be along shortly to warn you about IR34, no doubt. I think you're safe if you've got income from a number of sources i.e. not on a single contract but several customers paying you separately.

Anyway, my advice is Go For It. We'll start a new clique
Quote+Reply
Reply
  
Thread Tools
Display Modes
Postbit Selector
Switch to Vertical postbit Use Vertical Postbit

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Recent Posts - Contact Us - DSC Home - Archive - Top
Powered by vBulletin 3.5.4 - Copyright © 2000 - 2024, Jelsoft Enterprises Ltd. - © Ducati Sporting Club UK - All times are GMT +1. The time now is 21:50.