Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Stoots on January 17, 2018, 07:29:13 am
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
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It has been pretty rough , I’m just battling through and booking jobs in and I’d actually be ok with anyone skipping this month.
Bought a pump box from the cleaning warehouse and they sent a duff pump , so had to cancel a few days and go to Wolverhampton to try and sort it which didn’t help. I also started a week later than normal due to Xmas ... which didn’t help either!
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I didn't go back till the 15th, so only had 2 days work so far.
Your right its been ruff as hell here, freezing cold wind and got a face full of hail yesterday!
The way I see it is this, may as well jump back in at the deep end and hopefully things can only get better.
Got a crap forecast over next couple of days but this year is the year of less stress so its not going to bother as it has in recent times. I am just going to go with the weather flow and do what I can when I can. If I'm late it'll just have to be.
Having said that I will be out in weather that some may say I shouldn't be as it doesn't bother me because I'm tuff!!!
An d as shrek says I wont be stressing over "not today" for the first time. Had a couple already, and a cancellation but no bother as i picked 2 newbies already so as always its covered!
Bring on the hard times and throw at me what you will, if it doesn't kill me........
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Hey Paul,
Just try and put some cash aside during the spring/summer and try not to touch it as we will always get at least a few days that you can't work over the winter. Catch up on book work and chasing unpaid bills. Chase the bad payers, do maintenance work on your equipment and if you get the chance, get out of here for a few days for some winter sunshine.
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jan 2010 was the worst for me.....heavy snow for nearly a month...at the time i had ten 25L barrels in the back of my old kangoo and a 50L trolley system! ;D
ALL 10 barrels froze solid in the back of my van when it went down to -15 one night!
.....thing is i still did a bit of work one week by using a trad pole and screenwash in my bucket! ;D
this years been ok for me...ive not had a single day off and im still on course for a £4,000+ month
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
you ll never "make up for it" in the spring mate.theres only so much work you can do in a day,week,month,year etc.that money is lost forever if you dont work today.
this is where you need to build up an emergency fund(at least 3 months to 6 months bill money)over the next few years adam.say your bills are £1500 a month you should save up £4500 to £9000 to keep you covered if the worst happens(illness,injury, bad weather etc).
if you cant manage to get a good chunk of money behind you when your self employed your leaving yourself wide open for serious financial trouble if you have to have a few months off.
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Daz your an inspiration and I hope to reach the same place as you in time!
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Hi Adam.
Im in Wakey too.
Today isnt as bad as it looks at the moment,a few clear patches in the day so should be able to earn a few quid at least.
Im in the Stanley area today and im going out regardles.
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
you ll never "make up for it" in the spring mate.theres only so much work you can do in a day,week,month,year etc.that money is lost forever if you dont work today.
this is where you need to build up an emergency fund(at least 3 months to 6 months bill money)over the next few years adam.say your bills are £1500 a month you should save up £4500 to £9000 to keep you covered if the worst happens(illness,injury, bad weather etc).
if you cant manage to get a good chunk of money behind you when your self employed your leaving yourself wide open for serious financial trouble if you have to have a few months off.
Everyone should have at least that, I also will get some cover for myself so if I'm out of work for 3 months plus a monthly wage will kick in, expensive but its peace of mind. As well as critical illness cover which I already have.
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Dec 2009 for me. I had a nasty chest infection that kept me out of action for two weeks. Had one week of snow and then the holiday. Had about three and a half weeks off in total. Thought I was never going to get back. Then January was a real coldun, but I was glad to be back at work.
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Yes 2010 was bad, Adam as the old saying goes make hay while the sun shines, put it this way Iv never failed to meet my yearly
target because of weather just make up the shortfall when the weather improves.
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
so is there heavy snow/ice on the ground where you are adam?....if not go to work
is it constant heavy rain and gales where you are?....if not go to work
is it below -5 during the day?....if not go to work
other than the 3 weather scenarios above you should be out working adam.its very rare the weather is THAT bad you cant do any work....
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Yes 2010 was bad, Adam as the old saying goes make hay while the sun shines, put it this way Iv never failed to meet my yearly
target because of weather just make up the shortfall when the weather improves.
if you set your yearly target as low as yours sean you could take 4 months off and still hit it! ;D ;D
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Yes 2010 was bad, Adam as the old saying goes make hay while the sun shines, put it this way Iv never failed to meet my yearly
target because of weather just make up the shortfall when the weather improves.
if you set your yearly target as low as yours sean you could take 4 months off and still hit it! ;D ;D
Yes but I dont need to spend thousands a year on silly gimmicks, it takes you 4 months just to break even, lol.
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This winter has been tolerable, but we've escaped the worst of the weather in the south-east.
I think the worst one since I've been window cleaning was 2010/11 (I think). I had about 10 or 12 straight days off in early January where I couldn't get out at all. When I finally could, the battery had died on my van. So that was another couple of hours wasted sorting it out.
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I had to unexpectedly take another week off after christmas because of flu which leaves me a grand down on this time last year :'(
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
so is there heavy snow/ice on the ground where you are adam?....if not go to work
is it constant heavy rain and gales where you are?....if not go to work
is it below -5 during the day?....if not go to work
other than the 3 weather scenarios above you should be out working adam.its very rare the weather is THAT bad you cant do any work....
2 inches of snow, 35mph winds and rain/sleet .
Yep I think it's not workable
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Hi Adam.
Im in Wakey too.
Today isnt as bad as it looks at the moment,a few clear patches in the day so should be able to earn a few quid at least.
Im in the Stanley area today and im going out regardles.
It's really weird, in lupset there's no snow but wind and rain. Just drove to hunslet for some bits and there's no sign of snow and the sky's are clear so drove to tingley where I'm supposed to be working and there's a fair bit of snow and rain/sleet blowing horizontal.
Such a difference in about s 5 mile radius
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Hi Adam.
Im in Wakey too.
Today isnt as bad as it looks at the moment,a few clear patches in the day so should be able to earn a few quid at least.
Im in the Stanley area today and im going out regardles.
It's really weird, in lupset there's no snow but wind and rain. Just drove to hunslet for some bits and there's no sign of snow and the sky's are clear so drove to tingley where I'm supposed to be working and there's a fair bit of snow and rain/sleet blowing horizontal.
Such a difference in about s 5 mile radius
Always bad weather In Wakefield, Dewsbury, Huddersfield. traffic was grid locked last night due to ice on roads. No gritters.
Had a few bad days this year. Don't mind working in snow, buy yesterday is was hail. Managed 2 hours work.
Same today. Guy in Ossett sat in his van wishing he didn't bother.
I am sat at home. Hail, rain, snow, sun, hail. I was going to wait till dinnertime and see if it clears. Don't think ill bother
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jan 2010 was the worst for me.....heavy snow for nearly a month...at the time i had ten 25L barrels in the back of my old kangoo and a 50L trolley system! ;D
ALL 10 barrels froze solid in the back of my van when it went down to -15 one night!
.....thing is i still did a bit of work one week by using a trad pole and screenwash in my bucket! ;D
this years been ok for me...ive not had a single day off and im still on course for a £4,000+ month
I remember that but I couldn't recall the exact year.
Aye, I had a month off except for a few shops and bungalows but I had another income at the time and my missus was working full time as well.
It was fun on here; the cabin fever went into overdrive! Though all areas were not as badly affected.
I always try and tell myself that if the weather is really bad then it might not be as bad tomorrow. Or the day after. And so on.
It will break, Adam. Unless you break first.
Chin up.
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Hi Adam.
Im in Wakey too.
Today isnt as bad as it looks at the moment,a few clear patches in the day so should be able to earn a few quid at least.
Im in the Stanley area today and im going out regardles.
It's really weird, in lupset there's no snow but wind and rain. Just drove to hunslet for some bits and there's no sign of snow and the sky's are clear so drove to tingley where I'm supposed to be working and there's a fair bit of snow and rain/sleet blowing horizontal.
Such a difference in about s 5 mile radius
Always bad weather In Wakefield, Dewsbury, Huddersfield. traffic was grid locked last night due to ice on roads. No gritters.
Had a few bad days this year. Don't mind working in snow, buy yesterday is was hail. Managed 2 hours work.
Same today. Guy in Ossett sat in his van wishing he didn't bother.
I am sat at home. Hail, rain, snow, sun, hail. I was going to wait till dinnertime and see if it clears. Don't think ill bother
I'm in tingley, sun came out and as soon as I cleaned a house hail, finished house sun came out in next house, hail.
This country's weather is nuts
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(http://www.cleanitup.co.uk/smf/1516186529_8CBC45D9-62B1-4D5F-A6F3-3750B9215FBF.jpeg)
This was last night. There’s been another inch or so overnight.
Good old Scotland!
Monday has been the only workable day this week. Main roads are ok, but side streets and peoples drive ways are impossible.
This is why we all need to make hay while the sun shines and have a backup fund.
More tea and biscuits it is for me. :)
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Winter of 09/10 or 10/11 (can't remember) but I worked 4 days out of 6 weeks! 400ltr tank frozen solid and temps down to -14 at lunchtime!!
This just now mate is a doddle!
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Winter of 09/10 or 10/11 (can't remember) but I worked 4 days out of 6 weeks! 400ltr tank frozen solid and temps down to -14 at lunchtime!!
This just now mate is a doddle!
That was my first year going self employed. I thought..... what on earth have I done. ;D
That famous saying, what doesn’t kill you...........
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That's why I always add PAT to every quote i do to cover my downtime. (Paul Added Tax) ;D
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Adam now you know why I am fed up I have had thirty three years of it every week when weather's crap your just fighting a losing battle .then you get customers your doing my Windows in this crappy weather wtf😠
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Winter of 09/10 or 10/11 (can't remember) but I worked 4 days out of 6 weeks! 400ltr tank frozen solid and temps down to -14 at lunchtime!!
This just now mate is a doddle!
Noobs. They've no idea eh!?!
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I did an hour on Monday morning. Since then - nothing.
Weather over here is nuts with wind and rain. I'll just ride it out as I always do and just work harder when the weather improves.
John
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No problems here in woking.
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a bit windy here and the odd hail shower but workable.did 930am-230pm.not a bad days work cleaned.so ive worked 12 days this year already(weekends off).mainly commercial jobs tomorrow so even if its hammering it down theyll get cleaned! ;D.
this time last year i was working from my golf gti with 4 barrels and a backpack,slx 22 and a small DI for filling up at lunchtime at customers houses!(i still earned over £3500 last jan)as my van was knackered....... ;D
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(http://www.cleanitup.co.uk/smf/1516186529_8CBC45D9-62B1-4D5F-A6F3-3750B9215FBF.jpeg)
This was last night. There’s been another inch or so overnight.
Good old Scotland!
Monday has been the only workable day this week. Main roads are ok, but side streets and peoples drive ways are impossible.
This is why we all need to make hay while the sun shines and have a backup fund.
More tea and biscuits it is for me. :)
Aye, nothing worse than looking outside and seeing the world's turned upside doon!
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It's a rotten time when weather s against you, and we've all been there.
But you guys further up the country certainly get your share.
Especially when bills etc need paying.
The way I see it is you have to look at it over a much longer period, say 3-6 months for a better picture of how things are going.
If you dwell too much on a couple of days missed or even weeks it can easily get you down.
Make sure all your gear and stuff is ready and see it out ready to go.
Spring's nearly here.
Hope your back out soon.
Steve
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It's a rotten time when weather s against you, and we've all been there.
But you guys further up the country certainly get your share.
Especially when bills etc need paying.
The way I see it is you have to look at it over a much longer period, say 3-6 months for a better picture of how things are going.
If you dwell too much on a couple of days missed or even weeks it can easily get you down.
Make sure all your gear and stuff is ready and see it out ready to go.
Spring's nearly here.
Hope your back out soon.
Steve
wise words......
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
you ll never "make up for it" in the spring mate.theres only so much work you can do in a day,week,month,year etc.that money is lost forever if you dont work today.
this is where you need to build up an emergency fund(at least 3 months to 6 months bill money)over the next few years adam.say your bills are £1500 a month you should save up £4500 to £9000 to keep you covered if the worst happens(illness,injury, bad weather etc).
if you cant manage to get a good chunk of money behind you when your self employed your leaving yourself wide open for serious financial trouble if you have to have a few months off.
if you cant save that amount get some good credit cards behind you to at least pay the major bilss
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I also started on November of 2009 and had the worst winter ever, it was -14 or something daft during the day and worse some nights, the side streets were frozen solid for what seemed like weeks and my 400 litre tank was a giant ice cube for days. Luckily i had a few quid behind me from redundancy money and a girlfriend who earnt well. Fast forward and i have started window cleaning again in November 2017 and its looking like it may be a bad winter (hopefully not as bad as 2009/10), but this time im starting off skint and without a well earning girlfriend! Its pants! 3 months bills seems like an absolute impossibility to save up at the moment!
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Only been through 3 winters and luckily the other 2 have been mild, hardly noticed them
So far this month has been the worst ive experienced and a real struggle.
First week back in jan i managed 2 days work and did less than 300 quid, last week was good i tried to make up for it..
This week so far ive managed about 150 quid, today looks like a right off, snow and rain etc. tomorrow and friday doesnt look a whole lot better either.
To top it off this seems the slowest its been for getting payments in, everyone seems to be dragging their heels since christmas
depending what happens next week i may for the first time be dipping into my saving to pay the bills this month
Hows it been for you lot and whats the worst period of weather youve had? Do you worry about it or do you just think nevermind ill make up for it in the spring?
you ll never "make up for it" in the spring mate.theres only so much work you can do in a day,week,month,year etc.that money is lost forever if you dont work today.
this is where you need to build up an emergency fund(at least 3 months to 6 months bill money)over the next few years adam.say your bills are £1500 a month you should save up £4500 to £9000 to keep you covered if the worst happens(illness,injury, bad weather etc).
if you cant manage to get a good chunk of money behind you when your self employed your leaving yourself wide open for serious financial trouble if you have to have a few months off.
if you cant save that amount get some good credit cards behind you to at least pay the major bilss
a savings plan of £20 a week for 5 years would be a good emergency fund.credit cards can be useful esp if their interest free for a few years...
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There is no point stressing over things that is out of your control. Don't put yourself through the stress.
Just use the time to relax. Drink plenty and stay warm. Do something with the family or enjoy a bit of netflicks. Winter will soon be over.
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Yeh but having an emergency fund is not really the point.
I have a few grand i can get my hands on that i COULD pay the bills with if i really needed to, but i dont want to be spending my savings or credit cards/loans etc on paying bills, that money should be for holidays, investments etc etc.
I would hate to have saved up 10 grand and then break a leg or be snowed in for 3 months and have to blow it all
But what the recent weather has made me realise more than anything is that this isnt the most stable business in the world.
I did go out and clean some windows today btw, went out 12-4 and sat out a few showers and did something
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Dec '09/Jan 2010 I think were the worst - but being in S.W. I we have it so much better than many of you guys. That was the year I went immersion. What a difference that makes.
This month has been very cold (feeling and wind wise) but just above freezing so very workable.
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Boom time!
Head down, crack on.
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Yeh but having an emergency fund is not really the point.
I have a few grand i can get my hands on that i COULD pay the bills with if i really needed to, but i dont want to be spending my savings or credit cards/loans etc on paying bills, that money should be for holidays, investments etc etc.
I would hate to have saved up 10 grand and then break a leg or be snowed in for 3 months and have to blow it all
But what the recent weather has made me realise more than anything is that this isnt the most stable business in the world.
I did go out and clean some windows today btw, went out 12-4 and sat out a few showers and did something
so you ve got nothing to moan about then adam! ;D
i bet theres been days this year where you could ve worked but you ve binned it off.its all about having the right attitude,being organised, strong self motivation,grit and determination IMO.
I bet you ve sacked the gym off too........... ::)roll ;D
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Saving for a rainy day is all very well but you also have to remember as a sole trader you have the dreaded payments on account to find, which in itself can be a challenge.
Say as a sole trader your profits are £40k for that year. (Daz??)
So your total self employment tax liability is likely to be around the 9k mark (for everything including ni etc). So already you need put away £750 a month just for the tax . But thats not all, no.
That 9k bill is likely to have an additional payment on account charge for the current tax year which is normally half again which is due when you make your 9k £4500 plus. £9000 is £13,500 so now your looking at putting away £1125 per month just to pay your upcoming liabilities before the January deadline.
And of course they will want 2nd payment on account in the July of £4500 so in one year your needing to find 18k to cover your future tax liabilities for the forthcoming year which is £1500 a month.
Daz i hope you are taking notice if you are clearing 4k+ per month as a self employed individual be very careful that this doesnt catch you out.
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Saving for a rainy day is all very well but you also have to remember as a sole trader you have the dreaded payments on account to find, which in itself can be a challenge.
Say as a sole trader your profits are £40k for that year. (Daz??)
So your total self employment tax liability is likely to be around the 9k mark (for everything including ni etc). So already you need put away £750 a month just for the tax . But thats not all, no.
That 9k bill is likely to have an additional payment on account charge for the current tax year which is normally half again which is due when you make your 9k £4500 plus. £9000 is £13,500 so now your looking at putting away £1125 per month just to pay your upcoming liabilities before the January deadline.
And of course they will want 2nd payment on account in the June of £4500 so in one year your needing to find 18k to cover your future tax liabilities for the forthcoming year which is £1500 a month.
Daz i hope you are taking notice if you are clearing 4k+ per month as a self employed individual be very careful that this doesnt catch you out.
mark, can you explain what all this payment on account is about?
up until now i have submitted my tax return in april and the self assesment site shows me what is due by next jan 31st
is it more complicated than than? am i missing something?
i will add that i have been keeping my tax bill very low by re investing a lot of profit back into the business.
im thinking of going ltd in april so will then get an accountant
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Saving for a rainy day is all very well but you also have to remember as a sole trader you have the dreaded payments on account to find, which in itself can be a challenge.
Say as a sole trader your profits are £40k for that year. (Daz??)
So your total self employment tax liability is likely to be around the 9k mark (for everything including ni etc). So already you need put away £750 a month just for the tax . But thats not all, no.
That 9k bill is likely to have an additional payment on account charge for the current tax year which is normally half again which is due when you make your 9k £4500 plus. £9000 is £13,500 so now your looking at putting away £1125 per month just to pay your upcoming liabilities before the January deadline.
And of course they will want 2nd payment on account in the June of £4500 so in one year your needing to find 18k to cover your future tax liabilities for the forthcoming year which is £1500 a month.
Daz i hope you are taking notice if you are clearing 4k+ per month as a self employed individual be very careful that this doesnt catch you out.
mark, can you explain what all this payment on account is about?
up until now i have submitted my tax return in april and the self assesment site shows me what is due by next jan 31st
is it more complicated than than? am i missing something?
i will add that i have been keeping my tax bill very low by re investing a lot of profit back into the business.
im thinking of going ltd in april so will then get an accountant
https://www.gov.uk/understand-self-assessment-bill/payments-on-account
If you want to reinvest money into your business, id look at going ltd asap tbh.
Sole trader accounts isnt detailed enough and you dont have an accountant to back you up. Its your word against hmrc im afraid.
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As long as you put aside the right amount in a pot at the end of each months earnings for your tax bill you should be ok even with paying on account in January and July.
So come April 2018 you would have saved what you owe for tax year 17-18. You don't need to make payment till Jan 2019. So you should by then have enough in your pot to pay what's left of your 17-18 tax bill plus half of 18-19 bill (you're already over half way through 18-19 tax year). The second half of the bill is settled in July 2019 which is 4 months after the 18-19 year end.
So in a nut shell year on year you're paying tax pretty much as you earn it rather than paying it a year later.
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Yeh but having an emergency fund is not really the point.
I have a few grand i can get my hands on that i COULD pay the bills with if i really needed to, but i dont want to be spending my savings or credit cards/loans etc on paying bills, that money should be for holidays, investments etc etc.
I would hate to have saved up 10 grand and then break a leg or be snowed in for 3 months and have to blow it all
But what the recent weather has made me realise more than anything is that this isnt the most stable business in the world.
I did go out and clean some windows today btw, went out 12-4 and sat out a few showers and did something
Of course it's the point.
It doesn't matter what you want, Adam; you have to deal with what happens.
Nobody wants to break a leg or be off for a prolonged period due to the weather. You can't do anything about it so make the best of it.
Us 2010 veterans are still around. I remember actually enjoying the time off in the end. I looked through the curtains at night and looked forward to another lie in and day off.
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Yes 2010 taught a lot of us, me included, a lot of hard lessons about self employment, employing cash flow etc and although up to now this winter is not as bad it's still been rough weather at times here in county Durham and no doubt a lot worse for all the lads further north. It's winter and will not last but it is easier to get through if you've put some cash away during the summer months. What I find is some things are as good as cash in the bank I ensure that bills are paid etc freezers and food cupboards are stocked up enough logs coal pet foods etc are in stock to last right through the winter and a few drinks in doesn't go amiss. It will soon be better weather chin up ;D
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Yeh but having an emergency fund is not really the point.
I have a few grand i can get my hands on that i COULD pay the bills with if i really needed to, but i dont want to be spending my savings or credit cards/loans etc on paying bills, that money should be for holidays, investments etc etc.
I would hate to have saved up 10 grand and then break a leg or be snowed in for 3 months and have to blow it all
But what the recent weather has made me realise more than anything is that this isnt the most stable business in the world.
I did go out and clean some windows today btw, went out 12-4 and sat out a few showers and did something
Of course it's the point.
It doesn't matter what you want, Adam; you have to deal with what happens.
Nobody wants to break a leg or be off for a prolonged period due to the weather. You can't do anything about it so make the best of it.
Us 2010 veterans are still around. I remember actually enjoying the time off in the end. I looked through the curtains at night and looked forward to another lie in and day off.
That's not what I meant.
It goes without saying you need some savings in reserve.
I was moaning about not being able to work and make any money and the response was why does it matter if you have some savings you are fine.
Well yes I will be fine, I'm not going to starve as I can blow my savings if I need to but thats not the point of the thread. I didn't want to have to blow my savings I want to get out and work.
A bit like saying my vans broken down and it's gonna cost 5k for a new engine but hey it doesn't matter because I have 5k saved up. Of course it matters and it not the point, my bloody vans just blown up and I've blown all my savings on fixing it and im upset.
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Your going to have problems if you treat window cleaning as a 9 to 5 forty hour week job, set a yearly target divide it by 52 weeks
and work from there, if your short one week just make it up further down the line, at the end of the day if you want to work in all
weather conditions then that's up to you but if you need to work in all weather conditions just to make ends meet then your running way to close to the wire, the same goes if your not in the position to make up the shortfall later on.
Anything you make above your weekly target isn't savings its wages for another day.
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There is nothing anyone can do about bad weather. So that gives us 3 choices:
1. Work in it.
2. Don't work in it.
3. Quit altogether and do something else.
John
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There is nothing anyone can do about bad weather. So that gives us 3 choices:
1. Work in it.
2. Don't work in it.
3. Quit altogether and do something else.
John
Or option 4. Moan about it and sometimes work in and sometimes don't ;D
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Your going to have problems if you treat window cleaning as a 9 to 5 forty hour week job, set a yearly target divide it by 52 weeks
and work from there, if your short one week just make it up further down the line, at the end of the day if you want to work in all
weather conditions then that's up to you but if you need to work in all weather conditions just to make ends meet then your running way to close to the wire, the same goes if your not in the position to make up the shortfall later on.
Anything you make above your weekly target isn't savings its wages for another day.
Cheers.
Yes I think I may be too close to the wire.
So that means I either need to increase income via employing or reduce expenditure or ideally both as like you say you can't rely on getting out 5 days a week.
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There is nothing anyone can do about bad weather. So that gives us 3 choices:
1. Work in it.
2. Don't work in it.
3. Quit altogether and do something else.
John
Or option 4. Moan about it and sometimes work in and sometimes don't ;D
Yes I forgot that one! 😂
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Keep on going.
For me this is a crunch time year. Im either making it happen by employing or its Adios amigos
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Do you have enough work just for yourself at the moment Adam?
I am in this game a long time (21 years) and have employed in the past, so can speak from experience.
Before you employ, you need to be overflowed with work and earning very comfortably or at least be stable regarding cash flow, taking into account downtime caused either within or outside your control.
Please take what I am about to say as constructive, because I mean it that way: are you ready to take on the extra responsibility, financial pressures and aggravation that goes along with employing when you are currently facing a situation at the moment which is clearly causing you some grief? To include an employee in the mix when faced with this same situation further down the line isn't going to make it easier for you, so my humble advice is to give very serious consideration to where you are now, where you want to be and the steps you need to take to get there.
In the meantime, keep your chin up, window cleaning in winter time when the weather is against you can be tough, but we've all been there and come through it, and we still keep going.
Take one day at a time. Hang in there and you'll come through it stronger.
John
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Wise words.
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Do you have enough work just for yourself at the moment Adam?
I am in this game a long time (21 years) and have employed in the past, so can speak from experience.
Before you employ, you need to be overflowed with work and earning very comfortably or at least be stable regarding cash flow, taking into account downtime caused either within or outside your control.
Please take what I am about to say as constructive, because I mean it that way: are you ready to take on the extra responsibility, financial pressures and aggravation that goes along with employing when you are currently facing a situation at the moment which is clearly causing you some grief? To include an employee in the mix when faced with this same situation further down the line isn't going to make it easier for you, so my humble advice is to give very serious consideration to where you are now, where you want to be and the steps you need to take to get there.
In the meantime, keep your chin up, window cleaning in winter time when the weather is against you can be tough, but we've all been there and come through it, and we still keep going.
Take one day at a time. Hang in there and you'll come through it stronger.
John
Very wise words John.
I think both Adam and I are looking to employ eventually.
I am pushing myself this year to really pack out my work. I have set myself a target of hitting 80k turnover in 15 months.
So far i have picked up another £1200 of yearly business this month. I will be posting an end of month progress soon.
How long did it take for you from deciding to expand and employ to actually seeing a genuine improvement in your income vs time on the tools?
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Do you have enough work just for yourself at the moment Adam?
I am in this game a long time (21 years) and have employed in the past, so can speak from experience.
Before you employ, you need to be overflowed with work and earning very comfortably or at least be stable regarding cash flow, taking into account downtime caused either within or outside your control.
Please take what I am about to say as constructive, because I mean it that way: are you ready to take on the extra responsibility, financial pressures and aggravation that goes along with employing when you are currently facing a situation at the moment which is clearly causing you some grief? To include an employee in the mix when faced with this same situation further down the line isn't going to make it easier for you, so my humble advice is to give very serious consideration to where you are now, where you want to be and the steps you need to take to get there.
In the meantime, keep your chin up, window cleaning in winter time when the weather is against you can be tough, but we've all been there and come through it, and we still keep going.
Take one day at a time. Hang in there and you'll come through it stronger.
John
Yes and no.
I don't have enough in that on paper I could fit in more. But I do have enough in that I'm 3 weeks behind schedule and can't get much done.
I'm have about 43k a year of work on paper. But in reality I've been behind for months.
That's said last year at times it was lack of effort, finishing early etc. This year it's different I decided to put my foot down and expand, last week I had a record earning week simply due to the fact I got out Mon to Friday and worked. But the week before I did about 200 quid and this week I've not done much more.
Hence the moaning, but it doesn't help I had 2 weeks off at Christmas.
Anyway I'll press on I'm sure , just naturally a pesimist.
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Do you have enough work just for yourself at the moment Adam?
I am in this game a long time (21 years) and have employed in the past, so can speak from experience.
Before you employ, you need to be overflowed with work and earning very comfortably or at least be stable regarding cash flow, taking into account downtime caused either within or outside your control.
Please take what I am about to say as constructive, because I mean it that way: are you ready to take on the extra responsibility, financial pressures and aggravation that goes along with employing when you are currently facing a situation at the moment which is clearly causing you some grief? To include an employee in the mix when faced with this same situation further down the line isn't going to make it easier for you, so my humble advice is to give very serious consideration to where you are now, where you want to be and the steps you need to take to get there.
In the meantime, keep your chin up, window cleaning in winter time when the weather is against you can be tough, but we've all been there and come through it, and we still keep going.
Take one day at a time. Hang in there and you'll come through it stronger.
John
Very wise words John.
I think both Adam and I are looking to employ eventually.
I am pushing myself this year to really pack out my work. I have set myself a target of hitting 80k turnover in 15 months.
So far i have picked up another £1200 of yearly business this month. I will be posting an end of month progress soon.
How long did it take for you from deciding to expand and employ to actually seeing a genuine improvement in your income vs time on the tools?
Well done mark.
I started the year with 40k and my target was 80k by the end of the year, in reality I don't think I'll make it but hope to get somewhere close.
I think I've got about another 3k a year of work since then, paid for some canvassing and picked up a few from FB ads. Closing in on 350 customers now.
I actually think I've found a suitable employee. 16 hours a week. He is supposed to be coming out for a day with me next week with a view to setting him on proper
But now I'm panicking a bit what if it all goes tits up lol. I also have all these things running round my head, I need an accountant, should I go ltd etc etc, should I re brand. I don't even know what to do. Not even sure if it's gonna be worth employing, will I hate it etc.
I'm getting stressed about something g that's not happend yet lol
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If you employ you have to work in the rain. In my opinion and experience.
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Best thing to do is focus on one thing at a time.
For me; its getting the business to 80k; and thats it. 15 months i feel is achievable.
Sounds to me 1st thing you need to do is get through this wintry patch. Dont think about it too much do what you can do, no more; no less.
I would definitely recommend you incorporate though, do it now.
. Your starting to hit levels where your personal tax liability will kill your progress especially when you hit upper tax bracket.
Your going to need to build captial too for wage buffers and employee liabilities, and building up capital in a business that is a sole trader is a recipe for problems.
Me, i earn a very modest wage and so does my wife. We get paid monthly and pay tax through paye on the payroll. It covers our basic living costs and thats about it.
The remaining profit stays in the business and is only subject to 19% corp tax if i dont invest it back in the business. If i need extra money i can withdraw it via directors loan account and write down upto 5k tax free on declaration of div cert against the directors loan account, and anything above that 5k is still only subject to 7.5% tax whilst my total income stays in min bracket. Plus the ltd company owes my sole trader business the value if the goodwill also if i need to redeem that( other tax implications but...its also an option)
So i can grow my business, build up captial and not get walloped for it.
So yes id say that for you to incorporate is a higher priority than getting to 80k.
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Best thing to do is focus on one thing at a time.
For me; its getting the business to 80k; and thats it. 15 months i feel is achievable.
Sounds to me 1st thing you need to do is get through this wintry patch. Dont think about it too much do what you can do, no more; no less.
I would definitely recommend you incorporate though, do it now.
. Your starting to hit levels where your personal tax liability will kill your progress especially when you hit upper tax bracket.
Your going to need to build captial too for wage buffers and employee liabilities, and building up capital in a business that is a sole trader is a recipe for problems.
Me, i earn a very modest wage and so does my wife. We get paid monthly and pay tax through paye on the payroll. It covers our basic living costs and thats about it.
The remaining profit stays in the business and is only subject to 19% corp tax if i dont invest it back in the business. If i need extra money i can withdraw it via directors loan account and write down upto 5k tax free on declaration of div cert against the directors loan account, and anything above that 5k is still only subject to 7.5% tax whilst my total income stays in min bracket. Plus the ltd company owes my sole trader business the value if the goodwill also if i need to redeem that( other tax implications but...its also an option)
So i can grow my business, build up captial and not get walloped for it.
So yes id say that for you to incorporate is a higher priority than getting to 80k.
And that’s how the rich get richer ;)
Pay yourself and the Mrs £11500 a year tax free ,
5k ‘loan’ each a year tax free and anything above that is taxed at 7.5% instead of paying 20% tax 8)
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That's ok if your Mrs works with you....if your a sole trader that's what you are...sole.
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That's ok if your Mrs works with you....if your a sole trader that's what you are...sole.
You could always go Ltd , earn £11500 on your own tax free - then take 5k dividends tax free .
A sole trader earning 35k will pay around £7500 (tax/N.I.) whereas a Ltd company would pay £5400 - might be a good idea for mr dazmond!
-
Best thing to do is focus on one thing at a time.
For me; its getting the business to 80k; and thats it. 15 months i feel is achievable.
Sounds to me 1st thing you need to do is get through this wintry patch. Dont think about it too much do what you can do, no more; no less.
I would definitely recommend you incorporate though, do it now.
. Your starting to hit levels where your personal tax liability will kill your progress especially when you hit upper tax bracket.
Your going to need to build captial too for wage buffers and employee liabilities, and building up capital in a business that is a sole trader is a recipe for problems.
Me, i earn a very modest wage and so does my wife. We get paid monthly and pay tax through paye on the payroll. It covers our basic living costs and thats about it.
The remaining profit stays in the business and is only subject to 19% corp tax if i dont invest it back in the business. If i need extra money i can withdraw it via directors loan account and write down upto 5k tax free on declaration of div cert against the directors loan account, and anything above that 5k is still only subject to 7.5% tax whilst my total income stays in min bracket. Plus the ltd company owes my sole trader business the value if the goodwill also if i need to redeem that( other tax implications but...its also an option)
So i can grow my business, build up captial and not get walloped for it.
So yes id say that for you to incorporate is a higher priority than getting to 80k.
Thanks for this Marc. I wasn’t aware of the loan system and my carp, ripoff accountant never mentioned it. Just reading up, NI is due on it however.
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Yeh but having an emergency fund is not really the point.
I have a few grand i can get my hands on that i COULD pay the bills with if i really needed to, but i dont want to be spending my savings or credit cards/loans etc on paying bills, that money should be for holidays, investments etc etc.
I would hate to have saved up 10 grand and then break a leg or be snowed in for 3 months and have to blow it all
But what the recent weather has made me realise more than anything is that this isnt the most stable business in the world.
I did go out and clean some windows today btw, went out 12-4 and sat out a few showers and did something
Of course it's the point.
It doesn't matter what you want, Adam; you have to deal with what happens.
Nobody wants to break a leg or be off for a prolonged period due to the weather. You can't do anything about it so make the best of it.
Us 2010 veterans are still around. I remember actually enjoying the time off in the end. I looked through the curtains at night and looked forward to another lie in and day off.
That's not what I meant.
It goes without saying you need some savings in reserve.
I was moaning about not being able to work and make any money and the response was why does it matter if you have some savings you are fine.
Well yes I will be fine, I'm not going to starve as I can blow my savings if I need to but thats not the point of the thread. I didn't want to have to blow my savings I want to get out and work.
A bit like saying my vans broken down and it's gonna cost 5k for a new engine but hey it doesn't matter because I have 5k saved up. Of course it matters and it not the point, my bloody vans just blown up and I've blown all my savings on fixing it and im upset.
I'm sorry that you're upset but you can't have your cake and eat it.
Get a cat and kick that.
-
Best thing to do is focus on one thing at a time.
For me; its getting the business to 80k; and thats it. 15 months i feel is achievable.
Sounds to me 1st thing you need to do is get through this wintry patch. Dont think about it too much do what you can do, no more; no less.
I would definitely recommend you incorporate though, do it now.
. Your starting to hit levels where your personal tax liability will kill your progress especially when you hit upper tax bracket.
Your going to need to build captial too for wage buffers and employee liabilities, and building up capital in a business that is a sole trader is a recipe for problems.
Me, i earn a very modest wage and so does my wife. We get paid monthly and pay tax through paye on the payroll. It covers our basic living costs and thats about it.
The remaining profit stays in the business and is only subject to 19% corp tax if i dont invest it back in the business. If i need extra money i can withdraw it via directors loan account and write down upto 5k tax free on declaration of div cert against the directors loan account, and anything above that 5k is still only subject to 7.5% tax whilst my total income stays in min bracket. Plus the ltd company owes my sole trader business the value if the goodwill also if i need to redeem that( other tax implications but...its also an option)
So i can grow my business, build up captial and not get walloped for it.
So yes id say that for you to incorporate is a higher priority than getting to 80k.
Thanks.
Yes i have been considering going LTD for a long time, it has numerous benefits for myself other than tax, mainly due to having children and a girlfriend that only works part time.
When i spoke to an accountant a few months ago i was told for a sole trader turning over 40k the benefits tax wise are very slim when you factor in the extra costs involved in running a ltd vs doing my own books as a sole trader.
But i realise theres much more to it than that.
The only problem is i think i will need a re-brand or name change as there is a Thompson cleaning LTD registered with companies house, they are also window cleaners and only 7 miles from me.
i dont think i would get away with thompson pro cleaning ltd with it being so close and the same industry but would have to check.
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Yeh but having an emergency fund is not really the point.
I have a few grand i can get my hands on that i COULD pay the bills with if i really needed to, but i dont want to be spending my savings or credit cards/loans etc on paying bills, that money should be for holidays, investments etc etc.
I would hate to have saved up 10 grand and then break a leg or be snowed in for 3 months and have to blow it all
But what the recent weather has made me realise more than anything is that this isnt the most stable business in the world.
I did go out and clean some windows today btw, went out 12-4 and sat out a few showers and did something
Of course it's the point.
It doesn't matter what you want, Adam; you have to deal with what happens.
Nobody wants to break a leg or be off for a prolonged period due to the weather. You can't do anything about it so make the best of it.
Us 2010 veterans are still around. I remember actually enjoying the time off in the end. I looked through the curtains at night and looked forward to another lie in and day off.
That's not what I meant.
It goes without saying you need some savings in reserve.
I was moaning about not being able to work and make any money and the response was why does it matter if you have some savings you are fine.
Well yes I will be fine, I'm not going to starve as I can blow my savings if I need to but thats not the point of the thread. I didn't want to have to blow my savings I want to get out and work.
A bit like saying my vans broken down and it's gonna cost 5k for a new engine but hey it doesn't matter because I have 5k saved up. Of course it matters and it not the point, my bloody vans just blown up and I've blown all my savings on fixing it and im upset.
I'm sorry that you're upset but you can't have your cake and eat it.
Get a cat and kick that.
course you can, i had a treacle sponge cake yesterday, i bought that.
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That's ok if your Mrs works with you....if your a sole trader that's what you are...sole.
You could always go Ltd , earn £11500 on your own tax free - then take 5k dividends tax free .
A sole trader earning 35k will pay around £7500 (tax/N.I.) whereas a Ltd company would pay £5400 - might be a good idea for mr dazmond!
Its going down to 2k dividend tax free in april though which makes that side of things a lot less appealing to a sole trader.
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Treacle sponge cake and it's the worst month you've ever experienced?
You don't know you're born.
You'd have been alright being a window cleaner during the Great Treacle Sponge Cake Shortage of 2010.
Hard times, they were.
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I lived in a shoe-box in 2010 and we didn't see a single Treacle sponge cake all summer. We went 8 months without a single Treacle Sponge Cake being sited in the whole of the village.
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They are down to 39p in my local farm foods, have been for a while.
-
That's ok if your Mrs works with you....if your a sole trader that's what you are...sole.
You could always go Ltd , earn £11500 on your own tax free - then take 5k dividends tax free .
A sole trader earning 35k will pay around £7500 (tax/N.I.) whereas a Ltd company would pay £5400 - might be a good idea for mr dazmond!
Its going down to 2k dividend tax free in april though which makes that side of things a lot less appealing to a sole trader.
Corporation tax is going down to 17% by 2020 though
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Battemberg.
I reckon you need some big jobs to bump you over the 80k mark. Rather than loads of 18 quid semis.
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Battemberg.
I reckon you need some big jobs to bump you over the 80k mark. Rather than loads of 18 quid semis.
me ?
wish i could get 18 quid a semi i would be doing 60k as a sole trader if i could.
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Best thing to do is focus on one thing at a time.
For me; its getting the business to 80k; and thats it. 15 months i feel is achievable.
Sounds to me 1st thing you need to do is get through this wintry patch. Dont think about it too much do what you can do, no more; no less.
I would definitely recommend you incorporate though, do it now.
. Your starting to hit levels where your personal tax liability will kill your progress especially when you hit upper tax bracket.
Your going to need to build captial too for wage buffers and employee liabilities, and building up capital in a business that is a sole trader is a recipe for problems.
Me, i earn a very modest wage and so does my wife. We get paid monthly and pay tax through paye on the payroll. It covers our basic living costs and thats about it.
The remaining profit stays in the business and is only subject to 19% corp tax if i dont invest it back in the business. If i need extra money i can withdraw it via directors loan account and write down upto 5k tax free on declaration of div cert against the directors loan account, and anything above that 5k is still only subject to 7.5% tax whilst my total income stays in min bracket. Plus the ltd company owes my sole trader business the value if the goodwill also if i need to redeem that( other tax implications but...its also an option)
So i can grow my business, build up captial and not get walloped for it.
So yes id say that for you to incorporate is a higher priority than getting to 80k.
Thanks for this Marc. I wasn’t aware of the loan system and my carp, ripoff accountant never mentioned it. Just reading up, NI is due on it however.
No worries.
Please remember though this does not constitute financial advice. ASK YOUR ACCOUNTANT.
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It was that cold in our village in 2010 the only treacle sponge cake we had was frozen solid till august ;D
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And that’s how the rich get richer ;)
Pay yourself and the Mrs £11500 a year tax free ,
5k ‘loan’ each a year tax free and anything above that is taxed at 7.5% instead of paying 20% tax 8)
Its not quite a simple as that.
When you take a directors loan, you are effectively just moving funds from your business account to your personal account. You can pay it off any time. So say you get a parking ticket of £100, you could take £100 from your business account, pop it into your personal account marked as "directors loan". the next day after payday, pop the 100 back into the business account and you have paid back the directors loan.
However there can be extra implications for large sums of money; for example if you are moving more than 10k a year through the directors loan account; this is likely to cause a red flag. There is nothing wrong doing it; but such large sums of money could cause money laundering regulators to wake up and take notice, so youd better be sure you have done everything to the letter of the law. Anything untoward? They might force you to pay your company interest, or take is as wages and pay extra tax.
Also you don't want to borrow more than the post tax profits, that can be difficult for a lot of companies because you might for example borrow £3k in one quarter with the intention of paying it back by declaring dividends from the post tax profits, but the rest of the year your business drys up and the available profits cannot pay the directors loan back and your stuck with an overdrawn directors loan account which is really really bad. In extreme cases, you can be made bankrupt by your own company and possibly face criminal charges for embezzlement...the list goes on.
This is why you need a good accountant. I use a firm of accountants who are tax experts as well it costs around £1700 a year, and its well worth every single penny.
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I lived in a shoe-box in 2010 and we didn't see a single Treacle sponge cake all summer. We went 8 months without a single Treacle Sponge Cake being sited in the whole of the village.
Luxury.
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It was that cold in our village in 2010 the only treacle sponge cake we had was frozen solid till august ;D
You were lucky.......
I'm looking to increase my turnover as well.
Apple turnover that is.
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And that’s how the rich get richer ;)
Pay yourself and the Mrs £11500 a year tax free ,
5k ‘loan’ each a year tax free and anything above that is taxed at 7.5% instead of paying 20% tax 8)
Its not quite a simple as that.
When you take a directors loan, you are effectively just moving funds from your business account to your personal account. You can pay it off any time. So say you get a parking ticket of £100, you could take £100 from your business account, pop it into your personal account marked as "directors loan". the next day after payday, pop the 100 back into the business account and you have paid back the directors loan.
However there can be extra implications for large sums of money; for example if you are moving more than 10k a year through the directors loan account; this is likely to cause a red flag. There is nothing wrong doing it; but such large sums of money could cause money laundering regulators to wake up and take notice, so youd better be sure you have done everything to the letter of the law. Anything untoward? They might force you to pay your company interest, or take is as wages and pay extra tax.
Also you don't want to borrow more than the post tax profits, that can be difficult for a lot of companies because you might for example borrow £3k in one quarter with the intention of paying it back by declaring dividends from the post tax profits, but the rest of the year your business drys up and the available profits cannot pay the directors loan back and your stuck with an overdrawn directors loan account which is really really bad. In extreme cases, you can be made bankrupt by your own company and possibly face criminal charges for embezzlement...the list goes on.
This is why you need a good accountant. I use a firm of accountants who are tax experts as well it costs around £1700 a year, and its well worth every single penny.
Good info
Although I hope it's not going to cost me that much for an accountant.
I got quoted 500 for a sole trader including payroll for 1 member of staff.
I'll have to get some quotes for ltd
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Its weird how it works depending where in the country you are.
December just gone was our best ever, and we worked the least we ever have done. I alone had over two weeks off (actually off doing nothing as didn't have a holiday last year), and January will also be our best ever. South East hasn't been that bad, two days lost to freezing weather thats it (gutter jobs). Ploughed on through the rain and winds, but it hasn't really been that bad at all.
Hope you get back on track, just need to get out there mate. If you want to employ you need to show your employees that they need to work through rubbish weather and when they don't feel like it - if you can't be bothered why should they?
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Adam, with regards to payments on account. (They are horrible) you only start paying it when your tax bill is over £1000. If it’s under that, then you’ll just pay the exact tax due and no more.
For me, I have to pay a big fat lump sum in jan, which I paid beginning of December to get it out the way. Then another (though smaller) lump sum in July.
The payments on account are ‘future payments’ towards your next years tax bill. So if you were to have a very bad year that next tax year, you could potentially get some of that ‘payment on account’ money back.
So your probably don’t have to worry about it at the mo, as your profit probably isn’t enough, yet..
Just bare it in mind, because the first year you fall into the payments on account bracket (larger tax bill than 1k) it really does cause some stress (if your not aware like I wasn’t) The first year it happened to me I wasn’t expecting to pay it, so I had to use savings to cover the cost. Needless to say I learnt from that for the next year!
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Adam, with regards to payments on account. (They are horrible) you only start paying it when your tax bill is over £1000. If it’s under that, then you’ll just pay the exact tax due and no more.
For me, I have to pay a big fat lump sum in jan, which I paid beginning of December to get it out the way. Then another (though smaller) lump sum in July.
The payments on account are ‘future payments’ towards your next years tax bill. So if you were to have a very bad year that next tax year, you could potentially get some of that ‘payment on account’ money back.
So your probably don’t have to worry about it at the mo, as your profit probably isn’t enough, yet..
Just bare it in mind, because the first year you fall into the payments on account bracket (larger tax bill than 1k) it really does cause some stress (if your not aware like I wasn’t) The first year it happened to me I wasn’t expecting to pay it, so I had to use savings to cover the cost. Needless to say I learnt from that for the next year!
Thanks, yes I had a read up on it.
the tax bill I've just paid this Jan was from April 16 -apr 17 which was my first year full time and I had loads of expenses.
This year's bill will almost certainly be more so good job I found out about this.
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Adam, with regards to payments on account. (They are horrible) you only start paying it when your tax bill is over £1000. If it’s under that, then you’ll just pay the exact tax due and no more.
For me, I have to pay a big fat lump sum in jan, which I paid beginning of December to get it out the way. Then another (though smaller) lump sum in July.
The payments on account are ‘future payments’ towards your next years tax bill. So if you were to have a very bad year that next tax year, you could potentially get some of that ‘payment on account’ money back.
So your probably don’t have to worry about it at the mo, as your profit probably isn’t enough, yet..
Just bare it in mind, because the first year you fall into the payments on account bracket (larger tax bill than 1k) it really does cause some stress (if your not aware like I wasn’t) The first year it happened to me I wasn’t expecting to pay it, so I had to use savings to cover the cost. Needless to say I learnt from that for the next year!
Thanks, yes I had a read up on it.
the tax bill I've just paid this Jan was from April 16 -apr 17 which was my first year full time and I had loads of expenses.
This year's bill will almost certainly be more so good job I found out about this.
Yeah it will be worse next year, to be honest my guess it that most window cleaners (sole traders) are paying under 1k tax, I did for the first 4 years, I takes time to build a big profitable round. It’s just that on CIU everyone earns 400 notes a day ::)roll
The fact is, the average window cleaner pay across the U.K. is around 21k, it just so happens that everyone on CIU is on 50k ;D
According to hmrc ‘experienced window cleaners’ earn between 20-23k a year
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Most window cleaners who use it as their sole income will be paying plenty more than 1K tax a year. Even if you've only been going a year and have bought work, to pay 1K a year in tax you'll only need a modest income of £70 odd a day, especially if you're trad.
I was knocking out £90 a day when I started 20 years ago.
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Caught me out too first time paying on account.
I pay so much a month by direct debit so when I submit the return there's virtually nothing to pay out as my account is in credit.
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
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You won't regret it Adam.
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
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You won't regret it Adam.
when i spoke to them a lot of it went over my head, all seems very complicated.
Just getting quotes at the minute for an accountant, had anything from £500 to £1200 so far
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.
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You won't regret it Adam.
when i spoke to them a lot of it went over my head, all seems very complicated.
Just getting quotes at the minute for an accountant, had anything from £500 to £1200 so far
If at all possible, go with an accountancy firm, and one that its chartered they will know exacly whats best for your business and will guide you in the right direction.
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You won't regret it Adam.
when i spoke to them a lot of it went over my head, all seems very complicated.
Just getting quotes at the minute for an accountant, had anything from £500 to £1200 so far
If at all possible, go with an accountancy firm, and one that its chartered they will know exacly whats best for your business and will guide you in the right direction.
Agreed.
I wouldn't have got my mortgage without one, definitely worth having. Talking of mortgage, that payment on account last year was a nasty surprise, especially when we had to pay deposit and stamp duty, solicitors etc.
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.
Don’t want to be rude but think you are talking to the wrong accountant very few people will be better off going ltd unless you are earning a lot it’s swings and rounderbouts yes but you will get a dividend instead of wages , I looked at it and it’s not worth it for us according to our accountant, wish my tax bill was only a grand it’s many times that unfortunately ,I think you need some good advice from a professional not someone trying to sell you a service it’s more work for an accountant so he is bound to recomend it
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.
Care to expand?
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.
Care to expand?
Well not really because some of the reasons are personal, family situations, children, courts and ex wife type stuff.
One reason though I can share is that I'm thinking of adding my partner either as an employee or as a shareholder later this year and will take advantage of tax free allowance and dividends etc.
Like I said there's more to it than simply saving a few hundred quid on your tax bill.
That's why I said it suits my situation.
I'm not a daft, I've done my research on the various scenarios with sole trader Vs ltd and considered all the options from expanding Vs staying the same etc etc.
Not going to make a decision overnight I'm still researching all the ins and outs but it's looking likely it will be the way forward for me.
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.
Don’t want to be rude but think you are talking to the wrong accountant very few people will be better off going ltd unless you are earning a lot it’s swings and rounderbouts yes but you will get a dividend instead of wages , I looked at it and it’s not worth it for us according to our accountant, wish my tax bill was only a grand it’s many times that unfortunately ,I think you need some good advice from a professional not someone trying to sell you a service it’s more work for an accountant so he is bound to recomend it
The wrong 5 accounts?
I don't plan on taking much dividends, most of the profit will be re invested.
Like I've said I've looked at it myself also
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Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better
I will add my tax has only been under 1k to date as I've invested so much back in.
Unless you are earning about 50k a year there is no point in going limited.
yes there is, but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.
Yes, you can call yourself a company director instead of a window cleaner.
sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.
Care to expand?
Well not really because some of the reasons are personal, family situations, children, courts and ex wife type stuff.
One reason though I can share is that I'm thinking of adding my partner either as an employee or as a shareholder later this year and will take advantage of tax free allowance and dividends etc.
Like I said there's more to it than simply saving a few hundred quid on your tax bill.
That's why I said it suits my situation.
I'm not a daft, I've done my research on the various scenarios with sole trader Vs ltd and considered all the options from expanding Vs staying the same etc etc.
Not going to make a decision overnight I'm still researching all the ins and outs but it's looking likely it will be the way forward for me.
You don’t need to be limited to employ your partner and use tax free allowances. I’d be flabbergasted if it was worth you going limited given the turnover you’ve indicated. And whilst Marc Stock seems a lovely guy, he thinks a new logo is pivotal in gaining an extra 100 customers so I wouldn’t get too carried away with his advice.
Just focus on gaining new work. The other stuff will follow. I saw once on here that the answer to every problem you have is more customers. I think that’s right.
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Aww thanks 8 weekly. :-*
My logo has nothing to do with 'gaining 100 customers' i am actively growing the business, so far this month i have gained another £1250 per annum in custom. An update thread will come end of the month.
There are major advantages to going ltd 8 weekly and il explain my reasons.
1.. Separation
Going ltd gives you better separation. The company is a legal entity in its own right. Sole traderships and partnerships are ok, but can be interpreted by opinion.
2. Focus
Going ltd gives you more focus. No where has Adam said i want to just tick over. He wants to grow the business and by setting up under ltd status that gives him a vehicle to work with that offers more protection more flexibility and most importantly more scalability.
3 diveristy.
Going ltd can also mean diversity. For me Bramar Ltd trades under StockClean for the window cleaning, but eventually i want to be off the windows and have employees doing it all and focus Bramar into other ventures.
If you read my advice it was to gain more customers. My target is 80k in 15months and i am doing it now. As we speak.
As far as the logo thing, i was simply playing about with ideas. Bramar doesn't have a logo yet and that is being designed by an artist but isnt the highest priority.
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8 weekly, you'll just have to trust me that I will be better off as I'm not prepared to divulge personal info on the net, you never know when someone my use it against you.
But it's something that was always going to be considered once I started to make profit.
Also yes I'm only making small numbers now, but my plans are to make bigger numbers so why not lay the foundations now.