Recent content by jim_0525

  1. J

    Self Drive Hire Insurance

    Any luck so far S.huss ? I'm about to look for SDH insurance cover for my planned business next year. Was assuming that because other people do the same sort of business that I would be able to find it. Good to see some leads in this thread, and fortunately there will be high margins so I...
  2. J

    Outsourcing work locally on a piecework basis.

    Yes, retro-style (but not replica) arcade machines (full-size/stand-up arcade cabinets).
  3. J

    Outsourcing work locally on a piecework basis.

    I work from home. Cutting, prep, spraying are done in that sequence in the garage/workshop. And clean assembly is in the house. Spraying is the hardest to integrate with other work due to dust (yes, I've considered a spray shed). Even if it was feasible/legal/allowable I wouldn't want someone...
  4. J

    Outsourcing work locally on a piecework basis.

    Mark T is correct, currently I cost my labour at £25/hr for everything, or I return a profit of £25/hr depending how you want to look at it. I am a man in a shed (well garage/workshop). If I can sub out some of the work at a lower rate that will improve my profitability as well as improve my...
  5. J

    Outsourcing work locally on a piecework basis.

    I'm a one man band making arcade machines. Doing everything myself from home I get by making 1 machine a month, and I could do 2 at a push. Previously when my order book was getting too long I started to think about getting premises and employees but to make it worthwhile needed something like 2...
  6. J

    Not claiming expenses

    OK, so unfortunately there is no carry forward of previous unused parts of the earnings limit or the £3600. It's only the annual allowance £40k that carries over. I actually knew and forgot that already because I looked it up when I started paying into this pension 5years ago.
  7. J

    Not claiming expenses

    Aha, I didn't know that was a thing. Thanks, I will look up the rules. It should work for me because the previous 2 years I under funded the pension by enough to cover this years excess in funding. Do I need to do anything? or will HMRC see that I'm within the rules? Or does no one even look...
  8. J

    Not claiming expenses

    It is less than the 40k limit, but I transferred a bit more into my pension (and claimed the tax relief/top-up) than my draft profit figure (if I claim every allowable expense).
  9. J

    Not claiming expenses

    I don't plan to represent my profitability to anyone apart from HMRC, but that's something to bear in mind.
  10. J

    Not claiming expenses

    Self-employed tax return. Is it OK not to claim some expenses? I assume it is, but thought I'd check. The reason is that I'm currently shifting money into my pension, and last tax year I shifted a bit too much (more than my draft self-assessment profit). An easy fix would be for me to push...
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