Learning to live my dreams not trample on them

Aiming_High

Start off...... Right, this is how it's goin' down. :rotfl:

lucielle

Do you have to tell your boss?
L

savingholmes

Hi aiming high - it is always hard at the beginning - it genuinely does get easier for vast periods of time - and then occasionally you have to kick start yourself again if you start drifting!!

Lu - I think it would be better to not directly tell my boss. I now have 2 dates in mind so I think I will just ask for them as annual leave. Exciting tho! I do think I need to put professional indemnity insurance in place - haven't yet set it up as couldn't afford it without clients but now I officially have my first client then a) its worth doing and b) its exciting.

For anyone wondering whether tax wise its worth doing the 2 days work a) we all start somewhere and b) I have a long way to go before I recoup my start up costs! It will give me such a confidence boost. They got back in touch with me because of my linked in account so it shows that is worth doing. The fact I am now a limited company will in theory also make it easier for them to pay me - I will invoice them - however I don't yet have a business bank account so need to rush around sorting that out too along with insurance! But I'm excited as I wanted to start my business properly from October and it looks like it is going to happen!

lucielle

Just because you have a business doesn't mean you have to have a business account. just open another current account and keep that for business use. It helps to avoid charges.
L

gilligansyle

lucielle wrote: »

Just because you have a business doesn't mean you have to have a business account. just open another current account and keep that for business use. It helps to avoid charges.
L

This is correct for a sole trader, but a limited company has to have a proper business account in the name of the business.

Just for info sh - I don't know who you bank with, but I found NatWest really helpful.

savingholmes

Thanks Lu and Gill

I have been intending to set up a proper business bank account - it is free for the first year or two anyway depending on who you go with. I need to round up 6 months worth of statements if I go with NatWest. If I stick with my current bank they can see it all online anyway. Natwest give £500 overdraft too which would be handy as at the moment I'm funding all start up costs myself. Yes one day I can set them against tax on any earnings but there need to have been enough earnings to make that worthwhile first!:money:

I think tho it has given me the confidence to go ahead with organising some workshops too - I also still need to write my workshop materials... but probably will aim for November now I've got this October work... I don't want to over tax my brain all at once LOL. I think I definitely need to go back to work asap next week if I'm taking on this other work too. Altho they've only offered 2 days initially - there is a possibility of more work in future so that could really help us out financially longer term as I am getting a very good rate.:j I used to earn a third more when I worked for them - so I based it on that - and factored in holidays, employers NI etc in coming up with an amount. They agreed very easily which made me feel I should have asked for more LOL:rotfl:. They don't know what I'm currently earning tho - they just know they found me good back then!:j

Just hope my boss is okay about the days I want off now...

gilligansyle

Good for you, charging what you arew actually worth.

There's been a fair amount of debate about that sort of thing on pippilongstocking's thread recently.

savingholmes

Thanks gill I will have to have a look...

Just watching Eat Pray Love at the moment - it was recommended on mse a while a go so hoping it lives up to expectations

bigzippy

savingholmes wrote: »

Thanks gill I will have to have a look...

Just watching Eat Pray Love at the moment - it was recommended on mse a while a go so hoping it lives up to expectations

You'll have to let us know if it's any good

savingholmes

Hi BZ - will let you know re the DVD

Had a look at pippi's thread (or the last few pages anyway) - I think a lot of people are scared to charge what they're worth - I think that in my case - if I deliver at this level it would give me more confidence to ask for more next time. Also they are already making noises about needing additional time from me. Because initially its just money to repay stuff I've already spent it literally is money in the bank expenses - rather than paying myself a wage at this stage...

I've got a few quotes for professional indemnity insurance but not picked one yet. I may got with the one that Gill recommended - but I wondered what a reasonable excess would be... May drop Gill a pm again as I am also after some sample Terms of Service for payment of invocies - unless anyone else can oblige.

I've also had to ring up n&tw3st to try and get a business bank account set up asap :eek: - as the company I will be doing consultancy for need my banking details so that can get me set up ready for payment which is fab :j but it sounds like the earliest I will get them is next Wed or Thurs (and that's only if I print off the forms, finish filling them in get me and OH to sign and we both go to the bank tomorrow with them). It would take even longer with B&rclays which pushed my decision to NW. They will give me a business CC with a £1K limit and overdraft facility free which TBH would be handy as I'm expecting it to take months to get paid and I've already incurred lots of costs relating to my business out of our main account...

I am really excited!!

I've also been to Occ Health and agreed this Monday as a return date to go back on phased return - and agreed 2 days annual leave with my boss I went out to my favourite carvery to celebrate (and nurse my current sniffle/cold) :rotfl:I've rung the company to confirm that I can do the days so they're pleased too - and my boss is delighted as I am going back sooner than she thought. I've also rung my GP to get them to sign me back as fit from Monday.

I'm going to try and meet my kids from school today as won't be able to once I'm back at work so should make the most of it really.

Jobs still to do
1) Get some printer paper so can sort out business bank account
2) Need to do some insurance claim forms relating to my sickness period and get them sent off too!