[ok cleaning]

running a ltd is cheaper than being self employed sounds better and you pay less tax too

[windowwashers]

running a ltd is cheaper than being self employed sounds better and you pay less tax too

how much does your accountant cost ??

Forgive me  but how does it sound better 

[dave0123]

because the companies pays 20% tax and thats it and theres no NI. plus acountant costs will be more but id would rarther pay my accountant than the tax man wouldnt you?? ww am suprised your not LTD allready if you have 10 workers working for you.


dave

[windowwashers]

because the companies pays 20% tax and thats it and theres no NI. plus acountant costs will be more but id would rarther pay my accountant than the tax man wouldnt you?? ww am suprised your not LTD allready if you have 10 workers working for you.


dave

I dont have 10 workers working for me, and if your limited you must still have to pay NI and also for staff, dont you ??

[dave0123]

oh i thought  u did must of mis read somewere.

You dont pay NI on divedends out of the company you will just pay the standard 2.10p or what ever it is.

obv you will pay staffs NI because there just working for you theres no way of getting round that.

[windowwashers]

oh i thought  u did must of mis read somewere.

You dont pay NI on divedends out of the company you will just pay the standard 2.10p or what ever it is.

obv you will pay staffs NI because there just working for you theres no way of getting round that.

maybe I should book a meeting with accountant 

[dave0123]

you could aslo make your gf or wife a partner and sectery paying her a wage or divedends.

you do have lads working for you dont you? as with being sole trader you pay the 40% tax after earning 40 odd grand well with LTD its only 32% i think and thats all you pay.

[dave0123]

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnSavingsAndInvestments/DG_4016453



theres more information on it quite intresting really. i am looking into it myself over this year as profit is getting quite high.

[Ian Lancaster]

Matt,
Yes you are correct. and I'm not trying to be mysteriious, but I have been very impressed by what Ian's done and what it means.

It's Ian's Idea and not mine, he calls it a franchise but i'm not sure if that's correct. He provides and default owns all the work.

It's not exactly my idea   It's been around for umpteen years

As for providing the work - that's just another service I offer as Franchisor - all franchises should have some sort of central sales arrangement to supplement the franchisees sales efforts - I just put greater emphasis on that.  The franchisees are free to find their own work if they want to, but in any franchise the franchisor owns the work - if the franchisee quits, he can't take his work with him, if he could there would be no reason to stay in the franchise, and the whole system would collapse.

[bluez]

Ian,
I was considering a similar type of set up but have put it on hold because I was too busy with my own stuff for the last few months. I would be very interested in your experiences so far.
 
have you had many franshisees fail, and the slice you take sounds very fair is it based on a %. What sort of recruiting do you use to find franchisees???

[windowwashers]

Matt,
Yes you are correct. and I'm not trying to be mysteriious, but I have been very impressed by what Ian's done and what it means.

It's Ian's Idea and not mine, he calls it a franchise but i'm not sure if that's correct. He provides and default owns all the work.

It's not exactly my idea   It's been around for umpteen years

As for providing the work - that's just another service I offer as Franchisor - all franchises should have some sort of central sales arrangement to supplement the franchisees sales efforts - I just put greater emphasis on that.  The franchisees are free to find their own work if they want to, but in any franchise the franchisor owns the work - if the franchisee quits, he can't take his work with him, if he could there would be no reason to stay in the franchise, and the whole system would collapse.

I would love a copy of your contract about them not taking work if they leave, I am not knocking you Ian in anyway, I think its a good thing what you are doing and hopefully I will get to listen to your talk about it.

Ian

[Paul Coleman]

Ian,
on the £94 post that got deleted i was interested in what you said.

Basically you may well achieve more in the last two years of your working life than in the entirety of what went before. (my interpretation not yours).

I wondered if this was a waste. I understand what your plans are, but would you ever consider being some kind of consultant helping people in different parts of the country go the route you've gone. (when you have some extra time).

I haven't got enough work for myself yet, but I think this would suit me better than employing. I know there's a lot involved, but it's just a thought.

You could well be right (about achieving more....).  I've tried the employing game a few times - never again.  For the majority of my working life I've been contented with my lot - I'm franchising because I need an income into retirement.  As to being a consultant, I have no qualfications - just experience and common sense but there are legal considerations when you advise people in return for money - they can sue you if you give bad or incorrect advice

I'm booked to present a seminar on franchising the way I've done it at Windex in March, so come along and ask all the questions you want

I shall make a special point of coming to hear what you have to say Ian.  You may never know just how much you've helped me.  Apart from all the posts on here, I can still recall parts of a conversation we had in a pub near Maidstone a couple of years back.  That was the first inkling I got of what might be possible - even as a sole trader.  All window cleaners had been a little cagey with me about what could be achieved until I met you (and Paul Griffin a few weeks afterwards).  I greatly appreciated the honesty you both showed me.

[Moderator David@stives]

Shiner

it is amazing what you can find out in a pub, remember finding out Ian (Giles)kept a poor man locked in his garden shed !!!!

[Ian Lancaster]

I've got a custy keeps his mother-in-law in the garage

[Village Gleam]

Ian,
I won't be at Windex, or listen to your talk. What I wonder is if you make some notes for talk, or film it and do a podcast maybe? Or even just summarize the main points in written form for the rest of us?

I think that yours (you'd be surprised how much I know about you from your posts) is an interesting story. There was a best selling book- how I built coffee republic from my kitchen table- And I think your tale holds similar interest.

Something for you to think about....