Day to day costs of sole trading.?

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johniosaif

johniosaif

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Some here will be great and know there running costs, most of us wont have a clue.Your work clothes for starters with the essential PPE,your van, insurance ,tax,diesel,mot, repairs tyres, diesel(cleaning he he)Parking is expensive for me now £3 perhr,congestion charge £10 per day. admin,ie invoices printed/posted,ink etc also cost of pc and printer(wear and tear of same) Accountants fees.. Tools to buy or hire.Materials, lock ups/garage. Stolen and damaged tools is always a hidden cost. Wasted materials, beads trodden on etc, cost of dumping rubbish, protective cloth like dust sheets, plastic etc, dust masks goggles, rubble sacks.. Non stop spending.lots of stuff I have forgotten here too, time taken to view and price jobs that dont materialise..Thoughts Please guys
 
i think you have basically covered everything john, unfourtanetly lot of customers do not appreciate this, its quite a list of costs when you break it down
 
I actually use an accounting software that is fairly cheap and I know exactly where I am each month with what I have spent worth it because you inadvertently save money just because you realise that you spent £2K in mc donalds last year...lol

Running a business is a headache and the only people that understand that are people who do the same....
 
Danny said:
I actually use an accounting software that is fairly cheap and I know exactly where I am each month with what I have spent worth it because you inadvertently save money just because you realise that you spent £2K in mc donalds last year...lol

Running a business is a headache and the only people that understand that are people who do the same....
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Sometimes I think ,half of us would stop working if we realised exactly what we made in a year.. Scares me honestly
 
johniosaif said:
Sometimes I think ,half of us would stop working if we realised exactly what we made in a year.. Scares me honestly
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swings and round abouts, if your a sole trader you get all your motoring costs back, phone costs, computing ,clothes etc.
You wouldnt get that back on paye.
 
owls said:
swings and round abouts, if your a sole trader you get all your motoring costs back, phone costs, computing ,clothes etc.
You wouldnt get that back on paye.
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one fifth is claimable? if you spend 1000 you will not be taxed? ie one fifth but you have a valid point
 
johniosaif said:
one fifth is claimable? if you spend 1000 you will not be taxed? ie one fifth but you have a valid point
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youve lost me.

when i was a sole trader i put clothes through, van insurance, fuel, phone, new computer etc etc all against tax.
 
owls said:
youve lost me.

when i was a sole trader i put clothes through, van insurance, fuel, phone, new computer etc etc all against tax.
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Yes , you can put it through but you dont get the full cost of what you spent back if you did, everything you bought would then be free... The tax rate is 20/% or one fifth. If you did , it would be great
 
I just use a spreadsheet when I do our accounts. Our accountants told me how to set it up the way they want it. Works out all the totals etc. for you.

Latest thing is if you buy a van you can put the whole of it against your tax for that year so effectively you can wipe your tax bill out. They also still do it depreciating over so many years as well depending on your earnings.
 
johniosaif said:
Some here will be great and know there running costs, most of us wont have a clue.Your work clothes for starters with the essential PPE,your van, insurance ,tax,diesel,mot, repairs tyres, diesel(cleaning he he)Parking is expensive for me now £3 perhr,congestion charge £10 per day. admin,ie invoices printed/posted,ink etc also cost of pc and printer(wear and tear of same) Accountants fees.. Tools to buy or hire.Materials, lock ups/garage. Stolen and damaged tools is always a hidden cost. Wasted materials, beads trodden on etc, cost of dumping rubbish, protective cloth like dust sheets, plastic etc, dust masks goggles, rubble sacks.. Non stop spending.lots of stuff I have forgotten here too, time taken to view and price jobs that dont materialise..Thoughts Please guys
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then you get from the customer /builder ,HOW MUCH , (dont think we re allowed to earn more than a oner a day)
 
i dont bother adding it up i just charge the normal £60 a day and forget about all the sh!t youv mentioned :RpS_wink:
 
same as everything in life its designed to suck as much money as possible out of you and then a little bit more, god forbid the working man should have a few quid left at the end of the week. but if we did who would Mr cameron and his pals have to look down there noses at then? its wank but thats the way it is and always will be, all we can do is keep trying every day be a tight **** and and never belive what other people tell you cos it's lies they only after whatever they can get out of you. also 8-10 stellas a day helps
johniosaif said:
Some here will be great and know there running costs, most of us wont have a clue.Your work clothes for starters with the essential PPE,your van, insurance ,tax,diesel,mot, repairs tyres, diesel(cleaning he he)Parking is expensive for me now £3 perhr,congestion charge £10 per day. admin,ie invoices printed/posted,ink etc also cost of pc and printer(wear and tear of same) Accountants fees.. Tools to buy or hire.Materials, lock ups/garage. Stolen and damaged tools is always a hidden cost. Wasted materials, beads trodden on etc, cost of dumping rubbish, protective cloth like dust sheets, plastic etc, dust masks goggles, rubble sacks.. Non stop spending.lots of stuff I have forgotten here too, time taken to view and price jobs that dont materialise..Thoughts Please guys
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NPS said:
i dont bother adding it up i just charge the normal £60 a day and forget about all the sh!t youv mentioned :RpS_wink:
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I remember £60 a day,I think it was early nineties, a house was average 100k , nostalgia eh
 
maybe we aught to follow the ryan air business plan.
£60 a day + extras for everything else . even charge them for taking the cheque out of their hands.
 
NPS said:
i dont bother adding it up i just charge the normal £60 a day and forget about all the sh!t youv mentioned :RpS_wink:
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..except for the odd puncture repair kit for when someone puts a clout nail in my tyre.. but me mum buys that and fixes it up after she done my tea :RpS_wink:
 
hector said:
pleased you like it owls, chuffed to bits with it thanks artisan
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no bother H.........owt for you marra..................:RpS_wink:.......you just keep making sure we all keep our feet on the ground round here...........champagne ideas and lemonade money and all that.................. :RpS_thumbup:
 
been on this forum for approx 12 month now , and yes i can hear the cries of anguish from you all, but its true just 12 short month, and guess what, go on have a guess, got it, weeeeeel i have just found the like button on the bottom right hand corner of each thread, always wondered how that worked so anyhooo now i know
 
hector said:
been on this forum for approx 12 month now , and yes i can hear the cries of anguish from you all, but its true just 12 short month, and guess what, go on have a guess, got it, weeeeeel i have just found the like button on the bottom right hand corner of each thread, always wondered how that worked so anyhooo now i know
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Now you can like to you hearts content :RpS_thumbup:
 
i am firing them out left right and centre as i type keith, the times i have wanted to send a like but could not work out what to do , but of course only deserving cases, no more a northern monkey
 
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