Going alone

2makeit

I am considering working for myself whilst doing temp work to pay bills.

Where can i look for businessess for sale(engineering,motorcycle), as thought this would be easier as tools,equipment are already there, and sometimes contacts,
just need to get work, safe/secure premises.

What insurance policies are needed?
How to raise money for buying and to cover costs (rent,taxes,bills,wages)?

As this is my second job do i pay taxes? what else?
anyother information regarding this?

Sam_Bee

First step should always be:

http://www.businesslink.gov.uk/

They run free seminars for start-ups, most likely in your area, and cover all of the above plus the multitude of things you won't have thought of yet!

the_optimist

You need to tell the Inland Revenue that you are self-employed (within 3 months of starting). On their form you can tell them where else you already work. It's no problem. You will then also need to pay class 2 National Insurance.

When you come to do your self assessment forms in April next year, you will fill in the bits about your self employment and also your employment/s

A few years ago I had 3 part-time jobs and worked for myself, but the self assessment was still straight forward (actually, I earned so little as self employed, I used to get a tax rebate in the summer, nice!)