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"Always use a registered waste carrier, otherwise if they get caught fly-tipping you get fined as well as them!"
Darren (41), Shop fitter, self-employed for 15 years.
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"Open up a separate account for VAT, make sure you keep tabs on it and keep it out of your business. If you think of VAT as your money, and use it to fund projects, then you’ll be on the road to ruin!"
Steven (43), Joiner, self-employed for 19 years.
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"Giving a quote is the opportunity for you to sell yourself so it should be professional, clear and as detailed as possible. Don't just give them a scrappy note. Ideally, type up your quotes and print them out with your contact details."
Steve, 48, Plumber for 20 years
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"Get into a habit of filing all your receipts at the end of each day so they don’t all build up and you don’t forget what job they’re for. It only takes 2 or 3 minutes!"
Peter (56), Property Developer, self-employed for 6 years.
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"Monitor how much you’re earning through the year, rather than waiting until the end. That way you know what belongs to the taxman, and what’s yours."
Steven (43), Joiner, self-employed for 19 years.
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"If you do more decorative jobs like tiling, kitchen fitting, painting and renovations, you should invest in a website as this can be a great advert. Most householders use the internet and even if they don’t find you through your website, they might want to check out your credentials. It doesn’t have to cost that much and can make a real difference to your credibility."
Andy, Builder, 33, self-employed for 10 years
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"If you are contracting builders or other tradespeople to work on your project or on your behalf, you are responsible for their work and their safety. Check that they have the qualifications and the insurances that are required."
Andy, 42, Property Developer, 8 years
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"Start off right! It’s easy to drift into being self-employed and then realise that you could have taken advantage of some of the benefits open to those who are self-employed, for example claiming back certain expenses. Get advice from an accountant because they can explain how things like CIS actually work and what it means to you."
Adam (28), Electrician, self-employed for four years.
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"Get professionals in to dispose of any hazardous waste like asbestos. It removes risk and cuts down on paperwork!"
Steven (43), Joiner, self-employed for 19 years.
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"When employing sub-contractors, make sure all paperwork is watertight, as it may end up costing your business."
Steven (43), Joiner, self-employed for 19 years.
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"I always give people a quote for me supplying materials and one for using their products, so that they can see the difference and make the choice. A lot of customers think they can get products cheaper when they can’t, and this way they can see for themselves."
Andy, Builder, 33, self-employed for 10 years
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"If possible, use a contractor’s recycling skips for getting rid of waste material. They’re normally happy for you to use them, as they get paid for the tonnage taken to get recycled. In the end it doesn’t cost money to dispose of any waste."
Dave (60), Carpenter/Builder, self-employed for 32 years.
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"Cash flow is always an issue. Don’t get too ahead of yourself and go spending mad when you have a good couple of months! You need to budget for the quiet months. I have found that having an account for day to day spending and an account for money which I don’t need straightaway helps. I do internet banking so that I can easily transfer money between them."
Greg, 26, Builder, self-employed for two years
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"I wish I’d known the difference that a good accountant can make to the advice that you receive. My first accountant was only really a book-keeper and didn’t give me any advice at all, and I didn’t know what questions to ask. Now I am with an accountant that offers me advice on cash flow and pricing up jobs, as well as on VAT and my personal tax. Ask around before you choose an accountant and don’t be afraid to ask questions about how pro-active they will be or what experience they have with small trade businesses."
Andy, Builder, 33, self-employed for 10 years
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"Make sure to have everything in writing and organised, including quotes, payments and plans in case a customer decides not to pay. If you keep everything documented, you know that you can take action to get rightfully paid."
Dave (60), Carpenter/Builder, self-employed for 32 years.
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"We are VAT registered which means we charge VAT and that we claim VAT back on our purchases. When you get paid for a job it’s tempting to think that all the money is yours, but in reality 20% is going to the VAT man. Open a separate account and pay in the VAT that you receive. Then your quarterly VAT return won’t be such a shock! If anything, you’ll be in the black because you’ll have paid some VAT out."
Gary, Builder, 40, employs two others
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"Always make sure the customer is happy! When a job is finished, walk around with the customer and make sure they are 100% happy with it before they pay anything."
Darren (41), Shop fitter, self-employed for 15 years.
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