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  1. #1
    Join Date
    Feb 2017
    Location
    UK
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    Question Looking to the future



    Hello All,

    I have been working in this industry for just over 12 years, I feel in these years I have gained enough experience to do my own thing.

    I'm not looking to make the big leap but more of starting up my own thing to run alongside my current job until I have enough work on my own to keep me going.

    Basically, I am just after advice on what I actually need to have/do to be legal.

    I know I need to register with refcom and to get public liability insurance, I assume I will also need to obtain a waste cariers licence for the reclaimed gas?

    An accountant is something else I know I will need.

    I have also been in touch with a few suppliers of gas and spares so this is not an issue.

    Any help/Guidance would be muchly appreciated.

    Thank you in advanced



  2. #2
    Join Date
    Apr 2008
    Location
    Southampton, England
    Age
    43
    Posts
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    Re: Looking to the future

    Accountant who should advise on limited/sole trader
    Public liability, probably up to 10mil but at least 5mil for some firms to sub to
    Refcom like you say who will also want model and serial of reclaim and scales
    Set up accounts with wholesalers, if you change to ltd from sole trader you need to start that again so decide beforehand!
    Commercial bank account, again sole trader/ltd applies
    Bookeeper or look into your own software. It's about 20/month for Sage/Kashflow, there's quite a few and I'd say start off as you mean to go or if like us you decide to swap later from an excel spreadsheet it's more of a ball ache
    Perhaps stay non VAT for starters but get the accountant to advise. Compulsory for turnover above 85k I think. We registered before that to claim VAT back for the vans. It's only the takeaways that moan about being charged VAT anyhow, I'm sure you get the picture. :-]
    CIS registration or you'll get 30% knocked off instead of 20%. It comes off your final tax bill so you wont lose it but another thing to keep tabs on. Remember CIS is only for complete new installs. If you dob onto existing services the CIS doesn't apply. If CIS is a new term then put simply if you sub to a firm and install for them, your final labour bill will get 20% paid to your CIS pot instead of to you. As said you'll claim it back later.
    Perhaps think about jacking your job in and subbing to a few firms, seems to work for some guys. Otherwise expect to start with kebab shops, curry houses, that sort of thing where you'll get haggled to buggery, some days it'll work out alright but plenty of guys doing those jobs for cash whilst working for a firm so a bit tough to make living out of it. Not impossible though.

    There's a facebook group for Refrigeration. Make yourself known there and you should get few contacts in your area.
    Good luck!
    Andy.
    Health and safety first..........unless I'm in a hurry.

  3. #3
    Join Date
    Feb 2017
    Location
    UK
    Posts
    51
    Rep Power
    2

    Re: Looking to the future

    Wow, Thanks for all that information, its much appreciated.

    I will definitely look into all of that especially the CIS as ive not heard of that one before so thank you.

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