Going Tiling fulltime

[robbo]

Hi Guy's, i'm seriously thinking of going tiling fulltime now, the only thing i'm concerned about is having a week with no work, i'm currently receiving a small amount of tax credits as i have two children, and can't afford a week without any cash. My question is will i receive any help from the goverment/tax credits and how is it all worked out?
Just asking you guy's as some of you could be in the same boat.....

Robbo.

 

[enduro]

I'm sorry to say for a new tiler to be busy every week probably doesnt happen unless for very lucky, about the tax credits i think grumpgrouter may help you as he is an accountant. Sorry to be negative.

 

[grumpygrouter]

Hi Guy's, i'm seriously thinking of going tiling fulltime now, the only thing i'm concerned about is having a week with no work, i'm currently receiving a small amount of tax credits as i have two children, and can't afford a week without any cash. My question is will i receive any help from the goverment/tax credits and how is it all worked out?
Just asking you guy's as some of you could be in the same boat.....

Robbo.

Hi Robbo, tax credits when you are self employed is usually based on your prior year earnings - i.e profit for tax purposes. You are probably best speaking to the tax credits helpline initially to see what the score is if you move into full time self employment. Don't know if will make much difference though, but you never know.

 

[Dirrty]

You could put off going full time for say another six months Robbo and in that time try to save up say six weeks of your outgoings. That means that you could stand up to six weeks of blank weeks if it's patchy to start with. In the end though mate it will be a risk going full time, as it was for all of us. Good luck if you do

 

[IvegotsTILE]

I had enough money saved to pay bills for 3 MONTHS when I started and believe me I needed it,if your worried about being short for just one week when you start I'm afraid its more likely you will be.

I don't think its a good idea to make it your primary source of income from the start,better to wait until your more established unless you have at least 6 weeks cash saved up.

Just think it makes alot of sense mate,don't want to sound negative just want to give you the heads up and not leave youin an unpleasant predicament.

 

[DevonR]

Something I'll throw in the mix, and it is in no way meant to scare you. Perhaps it will help you and others in your decision.
I asked the sole same question a while back, after I had done my training and got a few jobs under my belt. I got some good advice from some of the more experienced chaps on here and ultimately made the decision that the time wasn't right.
How glad I am. I was struck down with illness, pretty much out of the blue and have spent 5 months on the sick (luckily fully paid from my current employer). God only knows the mess I'd be in now had I of gone self employed too early. I'd suggest, like some others have that you wait until you have some finances behind you before taking the step to self employment.

Good luck with whatever you decide.

 

[monty]

Sorry i dont know about the tax credits mate.....but im in a similar boat....i was working as a welder until a few months back...and was going to go part time running tiling along my welding job until i built enough work and then go full time tiling..

But unfortunatley i lost my job and went to the job centre and they put me on job seekers allowance, i explained i was wanting to go self employed but was worried about paying bills, rent council tax etc.....So they have suggested a scheme called test trading...which entails me still getting job seekers allowance and housing benefit whilst im working as a self employed tiler but any money i earn as a tiler i have to put in a business account which i cant touch for 6 months.which i think is fair enough ..

I should be starting it in the next 4 weeks once ive been in front of the princess trust panel for my funding...so i can afford my advertising campaign..in the mean time i have to declare the odd jobs im doing to the job centre.

Its a bit different to your situation but im sure it will help other people who may be in a similar situation to mine.

Monty

 

[robbo]

Nice one, thanks Monty, something to think about...

 

[muffinman]

Good Luck mate and i mean that in a positive manor Just about to do the same