Discuss Closing down my business in the UK Electrical Forum area at ElectriciansForums.net

Midwest

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I've decided to close down my business.

After my apprenticeship, I did about 12 years in the industry, before moving onto pastures new. When I retired from that job, I thought I would try being a sole trader electrician. I gave it a bash for 5 years, but for various reasons, I've decided to call it a day. I have a new job starting in October.

It was an unexpected steep learning curve for me, but not completely wasted time. I joined this forum back in 2011 in preparation, and gained some valuable experience and guidance from members over the years. Sometimes the advice aggrieved me, but the truth hurts!

So a big thank you for your counsel. I shall be sticking around, though :)

A last bit of advice from you in the meantime. I'll have my accountant tidy up those ends, the van will be going off to the knackers yard, I'll keep me tools for the time being. Advertising was minimal, and old clients I can redirect to other sparks. Anything else?

Not sure what to do with my public liability insurance, paid for till June 19, the last work I did was April this year. Should I keep it, or get a refund?
 
keep the PL insurance. you'll probably be doing few jobs for friends/family as a sideline. and what's the van?
 
@Midwest you’re up there with the legends. Glad you will be sticking around - witty banter keeps us all young.
As long as you’re not packing it all in so that you can have tea on the table in time for home and away!
 
Just waiting for SWD to send me some of his high heels & one piece.

Boots are in the post, I also sent something "special" for you and Telectrix to share, the gimp mask was donated by forum members ;o)))))

Remember to send me out those signed and undated Landlords Certs okay......

Screen Shot 2018-09-12 at 13.37.22.jpg
Screen Shot 2018-09-12 at 13.39.57.jpg
 
Boots are in the post, I also sent something "special" for you and Telectrix to share, the gimp mask was donated by forum members ;o)))))

Remember to send me out those signed and undated Landlords Certs okay......

View attachment 44270 View attachment 44271

Bloke on the right, looks like Mika Hakkinen. I wonder wot he wore under his race suit, always look a bit lumpy.

Thanks for the boots SWD; see you've had your nails done :D
 
Well I wish you well in what ever you do next,
As for closing the business down, I think it is 7 years you have to keep records for, your accountant can clarify for you. In mean time there may be one or two little things you can claim for to reduce your tax bill such as writing down the value of assets etc.
Just don't do what a family friend who was a 1 man ltd company plumber, when retiring and moving to spain, he got a load of materials from the suppliers on credit and flogged them all and never paid the bills! took some of them for thousands the cheeky so and so, Bloke was bang out of order for that in my view. He let the company go bust intentionally.
 
@Midwest sorry to hear your news mate, as others have said make sure you stick around on the forum you have a lot of friends on here.
All the best with the job.
 
It's always sad when a sole trader has to throw in the towel and I wish you better luck with your new ventures. I also hope you stick around the forum.
 
Well, Midwest, it has been interesting over the time.
Sorry to hear you have to leave the best profession but I wish you well in your future ventures.
I hope all goes well and that you still think of us lot stuck here spouting drivel, whilst you are living it up in those strange, weird, places outside of the electrical world.:screamcat:
 
ANA stacking shelves in Tesco's ;o)))))

Nothing wrong with stacking shelves.. It pays.. You get discount and the price of food is going up quick... If our place goes under I would have no problem doing it.
I bet they are more respected by the public than us electricians, who are all cowboys cause we charge too much for fixing a socket... :)
 
ANA stacking shelves in Tesco's ;o)))))

Get your phrases right, its Aka not Ana. Just googled that and its some sex film, typical of where you mind meanders :)

I wouldn't been seen dead in Tesco's, only to buy me cheap plonk; Waitrose & Partners is more my social standing.

And I ain't stacking no ones shelves, less its the paint cupboard.
 
pick up s88t from dog walkers .:D

I was thinking of inventing a machine to do that....
The idea was to put a small solar powered vacuum cleaner on the dogs back. This had its hose strapped near the dogs bum. The vacuum cleaner was activated via a mercury switch, so when the dog squats down to dump, it switches on...
 
I was thinking of inventing a machine to do that....
The idea was to put a small solar powered vacuum cleaner on the dogs back. This had its hose strapped near the dogs bum. The vacuum cleaner was activated via a mercury switch, so when the dog squats down to dump, it switches on...
now I thought about the idea is to strap a plastic bag on it --- .and calling it a bum bag. :rolleyes:
 
now I thought about the idea is to strap a plastic bag on it --- .and calling it a bum bag. :rolleyes:

People are into their gadgets... Your idea is just too simple where as mine is a 'must have' item of you own a dog.
Mine can be expanded..... So when you get home, you take the vacuum cleaner off the dog, plonk it in the middle of your garden and then press a switch. After 10 seconds the vacuum cleaner sprays the collected poo in all directions, a bit like a claymore mine going off, and it fertilises your garden..
 
what if, like me, your idea of a garden is green tarmac?
 

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