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#1 18-08-09 21:19:50

lloydie
Member
Registered: 17-03-09
Posts: 9

How to switch from full time employment to self employed???

Hi,

Having recently passed my part 3 I am now looking to make the change to full time instruction.

I have always been 'employed' so have no previous experience with tax / expenses etc - but there is lots of good information on here - I think I'll employ the "keep every reciept and get a good accountant" method!!!

The thing i'm interested in hearing about is how have people made 'the change' - My full time job rewards me with a fair salary, my better half is a housewife so has no income, my job knows all about my training and has made a couple of offers such as I could perhaps start & finish early to do lessons in the evenings / weekends but i'm wondering how effective I can be as an instructor with this limitation - I'm well aware that any advertising is down the toilet if I a). don't answer the phone or b).have to say "sorry i can't teach in the day time".

The more I think about it the more i'm wondering if I should just quit my full time job & hit the advertising hard, go flat out driving so if i'm not teaching i'm putting leaflets through doors etc.

Be interested to hear anyones storys (both bad & good)

Cheers

Dave.

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18-08-09 21:19:50

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Re: How to switch from full time employment to self employed???




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#2 18-08-09 21:57:33

samds
Verified Member
Registered: 21-01-08
Posts: 526
Website

Re: How to switch from full time employment to self employed???

My full time job rewards me with a fair salary, my better half is a housewife so has no income

Your answer is here Dave in your own words.  My advice is if you enjoy your job and you're earning £20k do part time charging more than the competition, at least until you're established.

It's a great job but you'll never be rich.


At University studying Humanities with Literature and Music.

http://www.myspace.com/scottmacalister/

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#3 18-08-09 22:33:13

lloydie
Member
Registered: 17-03-09
Posts: 9

Re: How to switch from full time employment to self employed???

What I should of said is.........

My full time job rewards me with a fair salary - though I hate it with a passion and think I may have to kill someone soon should I have to carry on with it much longer.

Ha Ha

Thanks for your time in reading my message anyway and for your comment - much appreciated

Dave smile

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#4 18-08-09 22:42:15

samds
Verified Member
Registered: 21-01-08
Posts: 526
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Re: How to switch from full time employment to self employed???

Oh well try not to kill anyone while you get established!  Use the job to allow you to charge good money for your lessons.
Don't make the mistake the majority of us do and did and undercut to get work because it doesn't work, start high and keep it there.

Good luck with it.


At University studying Humanities with Literature and Music.

http://www.myspace.com/scottmacalister/

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#5 19-08-09 08:04:20

Freedom Phil
Verified Member
From: Sunderland, North East UK
Registered: 31-03-09
Posts: 342
Website

Re: How to switch from full time employment to self employed???

"my better half is a housewife" 
"advertising is down the toilet if I don't answer the phone"

Get a website, do whatever advertising you were planning to do, get your wife to answer the phone and book in your lessons.... then you can also put your home phone through your accounts as a tax deductable expense, plus pay your wife for doing it - make sure what you pay her is under her personal tax allowance so she gets to keep it all, and whatever you 'pay' her will also push up your expenses so you pay less tax  wink wink  Any pupils who want a lesson when your working, you just say you've allready got pupils booked in then.

When I started I went with a franchise on a pink licence, quite my job and became a 'full time' ADI.  My contract with the franchise company was 18 months.  By the time the contract finished I was about £4,000 in debt because they never got me enough work.  I wish I'd started part time, and I did spend a lot of time trying to find part time work, but because I had pupils booked in at all different times and my boss kept promising me I would get more work, I never found a job I could do while being an ADI.  Looking back I would of done things very differently.  Unless you have some savings to live off for a while, my advice would be keep your job and do ADI part time till you get a few pupils, even if you just keep your job for 3 months, thats still 3 months guaranteed income.  If you go self employed immediately, all your household bills still have to paid for, advertising for pupils still has to be paid for, a car still has to be paid for - even if you don't have any pupils.  Maybe you don't have a mortgage, maybe you allready have a dual controlled car bought and paid for, then it's different.  If not, by staying working, even for 2 or 3 months, you still have a guaranteed income to cover your costs while your filling your dairy.

If you do go self employed straight away, your guna have lots of free time, so maybe consider doing intensive courses as they are a good way to fill empty space.

Does everybody at work know your going to be an instructor?  Is there a work notice board you can advertise on? 

Where do you live?

.phil.
big_smile


DIA diploma in driving instruction.  DSA registered fleet trainer.  ORDIT registered trainer part's 1, 2, 3 & ORDIT premises inspected.  SAFED trainer and assessor.  RoSPA approved tutor.  Diamond registered advanced instructor.  Diamond qualified advanced examiner. City & Guilds 7303 PTLLS teaching certificate.  IAM advanced test, Diamond advanced test, Diamond special test, Cardington special test, RoSPA gold

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#6 19-08-09 19:58:51

lloydie
Member
Registered: 17-03-09
Posts: 9

Re: How to switch from full time employment to self employed???

smdtr - A good point well made there about the pricing - cheers

Hi Phil - thanks for your post - most helpful - I've joined up with my driving instructor trainer so i'm being added to his website - I didn't want to go with a franchise for the exact reason you have said it went wrong for you - I didn't know that they would be able to supply me enough students - I have already bought myself a car with dual controls etc which I bought outright so no finance etc - I am thinking of selling another car that I have which should free up the same sort of money to cover a few months wages so I'm thinking of doing evenings / weekends to gain a few steady students - sell this other car and put the money in the bank then jack in the job and spend the time that i'm not teaching putting leaflets through doors @ colleges etc etc.
My instructor trainer is also offering good advice but its always nice to get it from a few other people in the know too so thanks again

I'm in Horsham west sussex - about 10 miles from Gatwick airport

Cheers

Dave

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#7 19-08-09 20:30:00

Freedom Phil
Verified Member
From: Sunderland, North East UK
Registered: 31-03-09
Posts: 342
Website

Re: How to switch from full time employment to self employed???

It sounds like you have thought everything through quite well, so best of luck to you!

Phil


DIA diploma in driving instruction.  DSA registered fleet trainer.  ORDIT registered trainer part's 1, 2, 3 & ORDIT premises inspected.  SAFED trainer and assessor.  RoSPA approved tutor.  Diamond registered advanced instructor.  Diamond qualified advanced examiner. City & Guilds 7303 PTLLS teaching certificate.  IAM advanced test, Diamond advanced test, Diamond special test, Cardington special test, RoSPA gold

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#8 20-08-09 12:15:02

Colin Martin
Verified Member
From: Southsea
Registered: 21-01-05
Posts: 2,465
Website

Re: How to switch from full time employment to self employed???

I would suggest staying with the job Dave. Get an inexpensive car, don't waste loads on a new one, or put duals in a car you own if it's suitable. Work part time either independently or with a franchise to get around 15 hours of work a week. This should cover costs, leave a bit of profit and give you a good idea if it's going to work for you. Then make your decision based on good information.


Colin Martin
The Bright Red L http://thebrightredl.com
Instructor Apps http://drivinginstructorapps.co.uk
Apps Video channel https://www.youtube.com/colinbythesea

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#9 22-08-09 20:43:11

lloydie
Member
Registered: 17-03-09
Posts: 9

Re: How to switch from full time employment to self employed???

Cheers Colin - seems like sound advice - I've already bought a cheap car etc so I will see how it goes p/t and take it from there.

Dave

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#10 23-08-09 14:00:22

RobC
Verified Member
From: Nr Ormskirk Lancs
Registered: 28-01-09
Posts: 765
Website

Re: How to switch from full time employment to self employed???

Dont give up the day job, from what you say they seem agreeable to you working hours which would enable you to fit some pupils in.
Now is the time to hit the advertising hard with leaflets adverts in local shops, canvass local colleges, get a website etc. It is only when your advertising begins to pay off and you see the number of pupils that you have increasing that you will be able to make a decision about the financial viability of giving up the day job for good.


www.midasbustraining.webs.com
Midas Minibus Driver Assessor Trainer & Passenger Assistant Trainer
DVSA Fleet Registered Trainer

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#11 23-08-09 14:10:27

DampDog
Verified Member
From: Staffordshire.
Registered: 04-02-06
Posts: 1,538

Re: How to switch from full time employment to self employed???

How does national insurance/tax work if you're "Part-time" self-employed and employed?

Obviously PAYE via the day job, but what about additional income from a few hours instructing?
DD


ADI (car)
1st CT (5)

I used to be a compleat idiot, until some bits fell off...

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#12 23-08-09 15:22:33

RobC
Verified Member
From: Nr Ormskirk Lancs
Registered: 28-01-09
Posts: 765
Website

Re: How to switch from full time employment to self employed???

Dampdog

Good point. It would probably be best to query this with the Inland Revenue or an accountant rather than get into trouble later on.


www.midasbustraining.webs.com
Midas Minibus Driver Assessor Trainer & Passenger Assistant Trainer
DVSA Fleet Registered Trainer

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#13 10-09-09 19:23:31

lloydie
Member
Registered: 17-03-09
Posts: 9

Re: How to switch from full time employment to self employed???

A VERY good point about the tax implecations there - thankyou all for your comments guys - all much appreciated  big_smile

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#14 14-09-09 17:39:14

Cat8t3
Verified Member
From: Droitwich - Worcestershire
Registered: 28-08-07
Posts: 339

Re: How to switch from full time employment to self employed???

How does national insurance/tax work if you're "Part-time" self-employed and employed?

You pay NI and Tax through your employer as normal.

You dont have to pay class 2 NI if your profits are less than £4835(or something like that figure), as you are paying class 1 through your employer if you get ill, you would still get SSP, etc.

As for tax as a self employed person you would still pay 20% on any profits. Here comes the good bit, if you make a loss, you can offset it against any earnings from an employment. Just like i did for 2008/2009 accounts.

Example -

You earn 20,000 as an employee
You make a lose of £1,000 as a drving instructor - you offset that lose against your income and get a tax rebate on the tax that you paid on the £1,000.

I filed my self assesment just this week, I earned 13,000 as an employee, i made a loss of 1060.00 and i got a tax rebate of 125.00 great stuff. If i had not been employed and made a loss then it would have just been tough, and i would have had no rebate at all.

Hope that helps, Oh and i found all this out at a local tax office work shop. They are fab, just go onto HMRCwebsite and book a workshop, they are completely free.

Cat smile




1st Check Test 15/09/2010 - Grade 4
2nd Check Test 09/01/2013 - Grade 4

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#15 15-09-09 17:21:15

Hale
Verified Member
From: Reading
Registered: 26-06-05
Posts: 379
Website

Re: How to switch from full time employment to self employed???

Don't make the mistake the majority of us do and did and undercut to get work because it doesn't work, start high and keep it there.

Thats easier said than done, id rather be busy than quiet


When i say STOP, I can only mean ONE thing!

Part 1 - Passed Sept 2003
Part 2 - Passed Nov 2003
Part 3 - Failed Aug 2004
Part 3 - Passed Jan 2005

http://www.hayleys-driving-tuition.co.uk

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#16 15-09-09 18:43:05

Colin Martin
Verified Member
From: Southsea
Registered: 21-01-05
Posts: 2,465
Website

Re: How to switch from full time employment to self employed???

smdtr wrote:

Don't make the mistake the majority of us do and did and undercut to get work because it doesn't work, start high and keep it there.

Thats easier said than done, id rather be busy than quiet

Forget pound per hour charged calculate your profit per hour worked and find your break even hours. At £22 per hour these figure are much better if you have bought a lower cost car and kept your advertising costs low compared to a franchise fee of over £300 for a one of the big 2 schools.


Colin Martin
The Bright Red L http://thebrightredl.com
Instructor Apps http://drivinginstructorapps.co.uk
Apps Video channel https://www.youtube.com/colinbythesea

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#17 16-09-09 22:40:22

lloydie
Member
Registered: 17-03-09
Posts: 9

Re: How to switch from full time employment to self employed???

Cat - thanks thats really helpful - i'll check on there  big_smile

Colin - Thats exactly what i've done - nice to hear someone else think the same way - I still don't see how anyone can work for the big franchises and make a living when you work out how many lessons you need to do just to pay for the franchise alone, I've tryed to work out the depreciation / servicing costs / petrol etc etc and I'm sure - that for me anyway - this is still the best way to go.

Cheers

Dave.

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