Self employment?

elfen

I've got the opportunity to go self-employed as a private tutor and possibly doing Lionbridge. I already do survey sites and sell on eBay and Amazon, although as a private seller right now as it is my own stuf I'm selling.

I'm currently on Incapacity Benefit and was wondering if anyone has gone self-employed off of this and the help/support given around this. With the research and the possible LB job I would be hitting 30 hours a week although for not a lot of money to start with - so am eligible for Tax Credits (I checked that out).

I'm also trying to put together a list of things I need to do and wondering if I've missed anything.

Thanks in advance guys

Horace

You would need to register with the HMRC for tax purposes and for Class 2 NI although you may be able to apply for an exemption.

You will need public liability and professional indemnity insurance - to cover you when you visit someone's home or they visit yours and to cover you in case you have taught them something incorrectly and they claim against you.

A separate bank account for your business is also good as that way it is easier to see what money is coming in and out.

Your local chamber of commerce will probably offer free courses on setting up a business to teach you about legalities, business plans, sales & marketing.

Not sure about the incapacity benefit side of things - surely if you are incapacitated then you are unable to work and certainly unable to work for 30hrs a week. I would be inclined to check that because if you are fit to work then you should be on JSA. As someone who is self employed you will be working a lot more than 30hrs a week - think of 60-70+ - there is no sick pay or holiday pay either.

Notmyrealname

Contact the job center and see if they're still doing the Return To Work Credit. It used to be £40 a week tax free for a year if you earned under £15k and was not taken into account for tax credit awards.