[supakleen]

Hi I am a newbie, just wondering of anybody could offer any advice.

I have the opportunity to bid for a contract( office cleaning), which I am likely to get.  However I want to keep my full time job and employ 4 workers to do the job. Could anybody offer any advice as to how this would work?
Am I classed as a sole trader?, If this takes off I would like to eventually try and obtain other contracts?

How would this affect my tax, and will I be battered with tax, for any profits made if I take on the contract?
Also I really dont know where to start, do I have to register myself as a company?, What HSE issues will affect me, what about any insurance?

I do hope someone can offer me a little advice..

Many Thanks

[garyj]

ALL health & safety issues will apply to you. Yes you need insurance for liability AND your employees. Yes you're going to get battered for tax, but aren't we all!? ( you will only pay tax on your PROFIT though).
You  don't have to register yourself as a company, but all income does have to be declared to the inland revenue, either by yourself or your accountant.

Best of luck in your new venture.
Gary

[martin19842]

hi there,

supakleen, wow- all those questions in such a small number of words.

ok -- suggestion, search the forum for all of the questions that you have asked, you will find a whole raft of information, from tax throught to whether you want to be a limited company or sole trader.

the industry has fallen foul of all the legisaltion relating to health and safety, COSHH data and COSHH assessments, method statements, and risk assessments.

insurance is an absolute must, but at the same time any company awarding a contract of any nature should want to see appropriate insurance cover in place, we are a litigation society unfortunately.

i dont know what your current job is, but believe me you can make a healthly living in the cleaning industry, if you are prepared to put in the hours, and the committment.  You need to decide how large or small you think you want your business to be., and you need to condiser that at this early stage.

WHY?

because it will affect the level of insurance you need,it will also affect how you are pricing jobs, and work

we price every job, as if we are staffing it out from day one. then there are no problem of profit levels in the future, in reality every job we do now is staffed anyway.

any specific questions please ask

regards

martin

[florenceyewande]

I suggest you get someone who is well experienced in cleaning business to join you as a partner as you will be busy with your full time job. Sure it will affect your tax liablity if you make a profit. one way of reducing your tax liability is to have a reasonable overheaad such as wages. Your patner may also be the supervisor who will be devoted to the job 100%