self employment requirements

[nednedned1]

Hi all,

 

ive recently been discussing with a few businesses I skip between around my area and it would be much easer to get payed if i became self employed.

I only know self employed carpenters and assume the deal with equipment use and insurance is completely different.

 

Could anyone explain to me which type of insurance i would have to be getting?

and is there any legal holdbacks to whose machinery and equipment i can use?

 

I think i have the general jist of recording expenditures and earnings and invoices and other stuff like that.

 

thanks

[Ian Flatters]

Hi all,

 

ive recently been discussing with a few businesses I skip between around my area and it would be much easer to get payed if i became self employed.

I only know self employed carpenters and assume the deal with equipment use and insurance is completely different.

 

Could anyone explain to me which type of insurance i would have to be getting?

and is there any legal holdbacks to whose machinery and equipment i can use?

 

I think i have the general jist of recording expenditures and earnings and invoices and other stuff like that.

 

thanks

 

ok, public liabiltiy to whatever you decide, i started with 2,000,000 then after the 1st year went to 5,000,000

 

professional indemnity (only required if you give advice (reports really)).

 

Some hire companies require you have hire plant insured within your public liability.

 

simples

[nednedned1]

is personal injury stuff completely your own choice then?

[Ian Flatters]

is personal injury stuff completely your own choice then?

 

optional extra you can take out:thumbup:

[Rupe]

Its all your own choice!! You don't need any insurance if your working for other companies.

[nednedned1]

so another companies employee insurance will cover me? i just need it im doing private jobs i take it

[Rupe]

Their employee insurance covers you for injury as a result of their mistakes, their public liability covers what you do to the public or customers and you can have your own personal injury insurance if you want.

 

Yes, you only need your own PL insurance for your own jobs.

[Rupe]

so another companies employee insurance will cover me? i just need it im doing private jobs i take it

 

If they have adequate insurance that is!!

[Ian Flatters]

so another companies employee insurance will cover me? i just need it im doing private jobs i take it

 

If they have employee insurance then yes, as you even tho you are self employed, you are being employed by whoever to carry out their work.

Private jobs

By law well, NO. There is no legal requirement for you to have public liability insurance. although if you do something wrong.....

[Dean Lofthouse]

Self employment requirements:

 

A minimum of 80 hours a week

 

A High tolerance of idiots

 

A good over draft facility

 

A lack of need for days off

 

One weeks holiday per year

 

The bottle to take risks