Self employed help

Luke92

Hi all, just after a bit of advice as I've been searching the internet and can't really find or understand what I'm looking for.

Ive always been employed but have recently been offered a new job. I am an engineer and within this job they have said I will be self employed. I will be using there van which they will pay all expenses e.g. mot, tax, insurance and congestion but I have to pay for all fuel and parking. I'm estimating this to be around £700 a month. The reason for this post is to see how much I would be able to claim back? My yearly earnings will be between £50,000-£100,000 and they will be paying me monthly. They also advise I pay a company they use £100 a month and that will include all my insurances and accounts. Meaning that they will take off my tax and national insurance every month before the money goes into my account and then at the end of the tax year I give them all my receipts including fuel and parking.

Any help or advice would be much appreciated as it's all very new to me and want to get some facts before I jump in.

badmemory

No contract, no holiday pay, no sick pay, no pension. There is a checker on HMRC to check if you would actually be self employed. One of which is do you work when YOU want to work or when THEY say you should. The grass is not always greener!

Luke92

Yeah I know there's some disadvantages to being self employed and I've thought about all of the ones you've stated. There a very big company with as much work as I want so that's all fine. Just trying to work out how much I'll be able to claim back for all the fuel and parking... As it's quite a big expense.

Dazed_and_confused

Who are you hoping to "claim back" these expenses from??

Dazed_and_confused

Meaning that they will take off my tax and national insurance every month before the money goes into my account

If you are self employed why would they be deducting tax and National insurance?

00ec25

Dazed_and_confused wrote: »

Meaning that they will take off my tax and national insurance every month before the money goes into my account

If you are self employed why would they be deducting tax and National insurance?

because he is going to be working through an umbrella company by the sounds of it, hence him being charged a £1,200pa fee for the "privilege" of paying his own tax - which is only slightly less than directly employing an accountant to do his company accounts and advise him on lots of other aspects as well that may not be done by the umbrella company

Dazed_and_confused

So not actually "self employed" then?

beckysheffield

00ec25 wrote: »

because he is going to be working through an umbrella company by the sounds of it, hence him being charged a £1,200pa fee for the "privilege" of paying his own tax - which is only slightly less than employing an accountant to do his company fees and advise him on lots of other aspects as well

Sounds a lot of money for basic tax work?

Pennywise

beckysheffield wrote: »

Sounds a lot of money for basic tax work?

Pretty average actually as there'll be book-keeping, VAT returns, monthy payroll/PAYE, annual accounts, annual CT return, annual personal tax return, and ongoing advice re what's claimable and optimising wages/dividend mix.

sheramber

Who pays for running costs i.e. servicing, repairs, tyres etc?

00ec25

sheramber wrote: »

Who pays for running costs i.e. servicing, repairs, tyres etc?

OP will be earning up to £100k and can't use the correct their, but leaving that aside, they did say:

Luke92 wrote: »

I will be using there van which they will pay all expenses e.g. mot, tax, insurance and congestion but I have to pay for all fuel and parking. I'm estimating this to be around £700 a month.

all in all it sounds like the typical hotch potch caused by "making" someone work through an umbrella company when, if were not the case, in all other respects they would simply have been an employee with a company van