Discuss pay your invoice or watch your windows in the UK Electrical Forum area at ElectriciansForums.net
I do this every day! As I imagine pretty much everybody here with a credit account does!Can you walk out of a shop without paying for the goods and say I'll pay you within 28 days? Of course not ,so what's the difference you should be paid asap.
Does that mean that when you do work and the company doesn't pay you at 30 days you take the same attitude?We pay 30 days after month end.
And if we pay later than that, sure what the hell.... do you want the work or not. You can be easily replaced.
I am an employee I get paid weekly. I lost £500 in total deductions this week.Does that mean that when you do work and the company doesn't pay you at 30 days you take the same attitude?
Would you really classify 3 weeks as a late payment.Almost all my work is domestic
I offer pay by link via email as well as a card machine in the van.
I do not usually get lat paying customers- I have had one in the past 2 years.
I sent him the invoice, week later the reminder (7 day notice) and he paid 4 days later- all in 2-3 weeks from invoice to payment
I have my laptop on site with me (as I use it to do my certs while there), this means I can use a spread sheet to total the job up and the client pays there and then.
My card machine has a roaming sim which jumps between T-Mobile, O2 and Vodafone so I usually have no problems taking payments.
Would you really classify 3 weeks as a late payment.
How often do members on here pay their wholesalers.
YepWould you really classify 3 weeks as a late payment.
I am an employee I get paid weekly. I lost £500 in total deductions this week.
Guys who are self employed need to get it into their heads that they are not working for wages. They are charging big money, and paying lesser tax, so they have to play by big boys rules.
I've no sympathy. If you aren't able to manage your finances to take the rough with the smooth, maybe you should go and work for someone else and be a direct employee
But you should be incorporated as a limited companySorry but ignorance is your enemy here we pay more tax, pay more NI and we have no luxuries like sick pay and holiday pay, when you go self employed it's a big drop in your extras and when you add your business insurance etc and bank charges it all scrapes away that higher hourly rate, only those good at their job and in demand succeed.
You have to pay tax on dividend payments now.But you should be incorporated as a limited company
No income tax bill.
Pay yourself a salary of £8000 and then take the rest as a dividend. You would only have to pay corporation tax and you would have lots of tax write offs.
As expressed in the last post, that loophole was closed years ago, going limited has certain benefits but also it has a few drawbacks and my accountant says it isn't in my interest to go limited at the moment where as it may have been in times gone by. The point I was getting at even if you are limited or not is when you factor in sick pay losses, holiday pay losses the higher taxation like NI you pay and all your business insurance costs etc it quickly make it less profitable than been employed and getting the bog standard, I get these comments all the time in the pub, 'oh you must be loaded' .. but they don't realise either that work isn't a constant running tap and you have to cover all the issues like failed or faulty products... there has been many a time over the last decade that I wished I never went on my own but plenty of times where I see the advantages of been my own boss.But you should be incorporated as a limited company
No income tax bill.
Pay yourself a salary of £8000 and then take the rest as a dividend. You would only have to pay corporation tax and you would have lots of tax write offs.
Reply to pay your invoice or watch your windows in the UK Electrical Forum area at ElectriciansForums.net
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