Self Employed OCUK'ers.

As I've said before in threads like this...make sure you get your tax straight from the word go. Register with HMRC as self employed, pay your class 2 NIC's (preferably by Direct Debit, then you won't forget) and put all tax money away into a "high" (relatively speaking, when interest rates were higher I used to get some nice spending money from the interest my tax money generated) interest savings account and do not touch it.
 
PC Repairs Business here.

Just done my first Tax Year, don't really have overheads as such so I've seen a return since the beginning. Wouldn't work for anyone ever again.
 
jmc007 said:
So you just buying at the moment; I mean would you say it isn't the best time to sell right now?
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depends, bottom end is bouncing along, I keep getting gazumped! middle end is sluggish but moving, expect downfall next year , several reasons why.


we currently have 9 in outgoing sales, what do you do? if selling your own privately look at what you can buy, i'e I am selling houses worth 75k for 55k
( really!) but buying houses for 55k worth 85-90k in Stoke, looking at the overall value, NOT on what the outgoing sale achieves as a price , but as a percentage. of the incoming house.
 
Thanks for all the input guys, it makes for interesting reading :)

Jambo: I'm not sure what im thinking of, but probably something that provides a service i.e. no stock to manage or physical products. I don't fancy physically producing a product.

I really am quite excited by the possibilities, but it's just nailing down an idea and taking it from there which is going to be keeping me thinking for a long while before i even get into startup costs, taxation etc
 
PC/Networking guy in my local area, starting to get a few customers under my belt which is good, does that count? main job Network & VoIP engineer for a multi-service Internet company dealing with WAN connections, Network Security, Backup Solutions, VoIP, Hosting
 
Russinating said:
I guess I should put my hand up.

Wedding videography mainly (and started with this), now also general film production and other media-related services. Return was had in 6 months, been doing it for about a year and a half.

Err... so, yeah!
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Do you only work on small productions? or do you also go mainstream productions??
 
Self employed consultant to leisure real estate developers / investors. theme parks, visitor attractions, arenas, resorts, retail and entertainment etc.

SE since 2004 - this year tougher than usual but still here despite very little capital coming into the market.

return was almost immediate - I sell time and experience - so desk and IT equipment (excel requires a watercooled trisli rig by the way) was only upfront investment
 
Started my own business as a business development consultant when I returned home to Australia last month. My very first client has taken me on as his business development manager and agreed to retain me on a 12-month contract, automatically renewed every year for as long as we're both happy with each other. He's also throwing in a fully maintained company car and phone. :D

The income from this role is enough to ensure that my wife can stay at home for as long as she likes before returning to work. :)
 
Used to work as a fitter, fitting anything electronic to vehicles mainly, serious money if you didn't mind living in in B and B's for most of the week and travelling a lot. Gave it up for the kiddies.
 
Im a freelance highways/structural engineer and have been for over 3yrs.
Got to love the money and freedom (even though im still tight and buy 2nd hand!!!)
 
Hoping to be a full time wedding photographer in a few years once Ive had the kids :D

Currently a payroll manager, when I do my photography work, I love it, and would gladly give up my 9-5 to pursue it.
 
I'm a self-employed guitar teacher, part-time at the moment but I'm stepping up my advertising with a view to getting as many students as possible now I've graduated from University. I've been doing it throughout College and Uni, I will hopefully be studying a PGCE next year and then may look for work as a peripatetic guitar teacher employed by the LEA.
 
I'm a self employed website designer/developer. I am also at 6th form, so on pretty good money for my age group. In addition to the website design/development I also do local computer home and business support.

I work for many different people. I am a freelance front end developer for a large company in the UK as well as doing design/development and IT support for many businesses - not just locally.
 
swinnie said:
I'm a self employed website designer/developer. I am also at 6th form, so on pretty good money for my age group. In addition to the website design/development I also do local computer home and business support.

I work for many different people. I am a freelance front end developer for a large company in the UK as well as doing design/development and IT support for many businesses - not just locally.
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Thats pretty impressive, do you have any examples of your work?
 
doublehelix2 said:
What type of IT work do you do?
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Big boring business systems.

Unix. Informix (read Oracle). Thin front end, and a bit of middle-ware. For a big national (non-IT) logistics company.

Basically, the really boring side of IT. Big business. Database tables with 42 million rows .. trying to make the IT invoicing process run in under 30 hours rather than > 60 hours by adding indexes and optomising code .. figuring out how we're going to do the impending VAT rate change for European clients that pay us in Euros -- very dull stuff.
 
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