Becoming self-employed with no work coming in?

Darfyddi

That was answered in post 4.

Sorry, wrote this to the last post on page one - I hadn't noticed this was now onto page 2.

CKhalvashi

I still think the best bet (and I didn't do this first) is to get 1000 cards made up at a local supplier (they will do them exactly as you want), and to go carding the properties locally to him.

I did this in a village of 4000 (at the time), and ended up taking about £800 a week in the first month, and then £1500-2000 a week when I'd built up a regular client base. £90k a year pre-expenses, and £1000 a week after insurance/fuel/tax/VAT etc certainly wasn't bad, although I did have to replace the car every 18 months to 2 years (150-200k miles, on a car that already had 100k when bought)

I eventually bought one of the local firms when the director retired, and therefore cut down my hours, but it certainly isn't a bad job if you can get regular travellers and a number of weekly runs into town.

CK

Darfyddi

I don't know what is so confusing after such explanations.

The weeks Between registering as self employed and actually doing any work in relation to that self employment, does one have to be fully insured (such as public liability etc.)

Any

I agree with Paddyjohn. I am not sure about the answer, clearly theoreticaly if he is "off duty" he shouldn't need public liability etc insurance, but if something happens how is he going to prove it?

I agree wth Paddyjohn - why not drive around for couple of weeks and then register self employed when he is ready? Why make things more complicated then they need to be?

Or register it all immediately and drive around while in full insurance etc.. to avoid sorting insurance for a private person (ie just driving licence and car insurance needed) and then insurance for taxi firm (ie everything taxi firm needs to have). it is not going to be a lot of time, is it? Hopefully couple of weeks at most!!

Any

https://www.gov.uk/browse/business
Just call someone to confirm..

no-oneknowsme

Surely the rules to self employment states that you are only to register as self employed once you have actually started making money from it...

If my assumption is correct then the OP"s friend shouldnt really register as self employed until AFTER he familiarises himself with the area in which he is going to be working.

OP , I really hope your Friend realises that taxi work isnt going to make him a millionaire :rotfl:. It takes very long hours to earn a good wage.

The list of expenses can be very high.

My Husband is a taxi driver.

Darfyddi

Able to phone a few organisations today, got an appoinment with one which resulted in a firm answer - nieghbour now very happy.

Thank you to those who few that actually tried to help.

[Deleted User]

Darfyddi wrote: »

Able to phone a few organisations today, got an appoinment with one which resulted in a firm answer - nieghbour now very happy.

Thank you to those who few that actually tried to help.

Can you share the answer for any people that find this topic in the future with the same question?

CKhalvashi

citricsquid wrote: »

Can you share the answer for any people that find this topic in the future with the same question?

You won't need taxi insurance until you're carrying fare-paying passengers, but may be worth getting the car plated/insured, and popping yourself on a rank to get an idea of how much work is about.

I've traditionally preferred Ford vehicles (3x Mondeos and an S-Max), but an old Peugeot 406 (that was brand new when bought) and Skoda Octavia are the favorites at the moment.

CK

Darfyddi

CKhalvashi wrote: »

You won't need taxi insurance until you're carrying fare-paying passengers... ...CK

Best (ONLY) answer of all and this is what we were advised via a couple of places.
Thank you.