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GSS Window Cleaning
On 20/01/2019 at 11:48, P4dstar said:

This throws me as some manufacturers claim that running a pump dry causes damage, some people swear by doing exactly what you've done. I recon @spruce would know.

You can run a shurflo pump dry no worries. 

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Iron Giant
8 hours ago, P4dstar said:

To be fair I can't say I know today, I finished at 10:30. The whole restructure i've done is hurting me over the next 2 weeks, quite a few days with hardly any work where i've shuffled people around. On the plus side I got a new customer this morning.


That's the only thing with a major reshuffle in the past I have done mine over a number of weeks so as not to take such a hit, You'll be out canvassing then I take it?

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P4dstar
2 hours ago, Iron Giant said:


That's the only thing with a major reshuffle in the past I have done mine over a number of weeks so as not to take such a hit, You'll be out canvassing then I take it?

Haha, no definitely not. I've always found canvassing to be a massive waste of time. Over half cancel before the first clean, about another 30% after the first clean and another 10% or so further down the line. I know some of the lads swear by it, perhaps it's just my area. I've never had a windy knock the door here and i've asked a few customers who've all said the same. I've filled some spots with gutters, got a conny roof to clean in a sec. Spent yesterday making sure I've included everything I need to in my tax return, i'm due a rebate of over 3k by the looks of it. Today is full now, the rest of my empty slots I will probably do some more work on my website.

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ks789
6 hours ago, P4dstar said:

Haha, no definitely not. I've always found canvassing to be a massive waste of time. Over half cancel before the first clean, about another 30% after the first clean and another 10% or so further down the line. I know some of the lads swear by it, perhaps it's just my area. I've never had a windy knock the door here and i've asked a few customers who've all said the same. I've filled some spots with gutters, got a conny roof to clean in a sec. Spent yesterday making sure I've included everything I need to in my tax return, i'm due a rebate of over 3k by the looks of it. Today is full now, the rest of my empty slots I will probably do some more work on my website.

Ah, rebates nice. One of my mates has got a bill to pay of 5k by end of month I think. He aint got it. Ok for me as yet as earnings were low and outgoings were high first year. even this second year wont be much. I think he's stuffed as he had a good previous year so they want in advance based on the previous year. We all know we're meant to put some away for this but can still come unstuck.

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GSS Window Cleaning
35 minutes ago, ks789 said:

Ah, rebates nice. One of my mates has got a bill to pay of 5k by end of month I think. He aint got it. Ok for me as yet as earnings were low and outgoings were high first year. even this second year wont be much. I think he's stuffed as he had a good previous year so they want in advance based on the previous year. We all know we're meant to put some away for this but can still come unstuck.

Payment on account is a joke catches loads of people out including myself. 5k is a big bill tho!! 

Edited by GSS Window Cleaning

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Part Timer
59 minutes ago, ks789 said:

Ah, rebates nice. One of my mates has got a bill to pay of 5k by end of month I think. He aint got it. Ok for me as yet as earnings were low and outgoings were high first year. even this second year wont be much. I think he's stuffed as he had a good previous year so they want in advance based on the previous year. We all know we're meant to put some away for this but can still come unstuck.

Well if he's made circa £35k and spent it all then more fool him. We all know the bill is coming so you have to set up an account to put money away to cover it. If he's had a major problem, big van repair bill etc, then I'd have some sympathy for him. 

 

27 minutes ago, GSS Window Cleaning said:

Payment on account is a joke catches loads of people out including myself. 5k is a big bill tho!! 

It prevents newbies getting big bills straight away and allows people to budget better without the temptation of large sums sitting in your account.

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ks789
3 minutes ago, Part Timer said:

Well if he's made circa £35k and spent it all then more fool him. We all know the bill is coming so you have to set up an account to put money away to cover it. If he's had a major problem, big van repair bill etc, then I'd have some sympathy for him. 

 

It prevents newbies getting big bills straight away and allows people to budget better without the temptation of large sums sitting in your account.

Its his removals business. his first few years were a nightmare of the vehicle going wrong etc. apparently his accountant has done the best he can but can do no more. Its strange, he likes a beer, but this is almost totally cans at home, so no big pub bill, his house is housing association with his mrs, so rent not bad. two kids, young, so not yet at the latest nike trainer stage. loan pay backs I guess, yeh he got another vehicle. Its a juggling game really but thats life, in one hand and out the other.

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P4dstar

The last time I was self employed I worked with a young lad who used to pay 20% of his wages straight through his URN. When it came to April he had his return ready to go and took a massive rebate. Some of the lads in the office said he was stupid because if he dies then HMRC are quids in and won't return the money to his family, he can't get any interest on the money as its no longer in his account and if he ended up out of work he couldn't claim that money back until at least April. His argument was; It was safer than a savings account as he couldn't touch it, if he couldn't pay his tax bill then the interest charged by HMRC would be more than he would have gained.... Also he was about 24 and didn't plan on dying. I personally think its better in my account than theirs!

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Part Timer
1 hour ago, P4dstar said:

The last time I was self employed I worked with a young lad who used to pay 20% of his wages straight through his URN. When it came to April he had his return ready to go and took a massive rebate. Some of the lads in the office said he was stupid because if he dies then HMRC are quids in and won't return the money to his family, he can't get any interest on the money as its no longer in his account and if he ended up out of work he couldn't claim that money back until at least April. His argument was; It was safer than a savings account as he couldn't touch it, if he couldn't pay his tax bill then the interest charged by HMRC would be more than he would have gained.... Also he was about 24 and didn't plan on dying. I personally think its better in my account than theirs!

Set up a regular savings ISA in December so it matures just after Christmas, so you can't spend it, and use this to pay the taxman. Also set up a smaller one for June maturity then you can't be short to pay the tax bill.

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ks789
5 minutes ago, Part Timer said:

Set up a regular savings ISA in December so it matures just after Christmas, so you can't spend it, and use this to pay the taxman. Also set up a smaller one for June maturity then you can't be short to pay the tax bill.

I cant do that. They say you can open one every year or something? but Ive had this help to buy isa going for a couple of years and they say cant open another isa while this is going. you can put a max of 200 a month in it.

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P4dstar
11 minutes ago, ks789 said:

I cant do that. They say you can open one every year or something? but Ive had this help to buy isa going for a couple of years and they say cant open another isa while this is going. you can put a max of 200 a month in it.

You can only pay into one isa in any financial year and you can only open one per year. Your help to buys will work out much better for you in the long run, just keep squirrelling your £200 away each month and it will soon add up. Make sure you check your interest rates on it too. We’re making £15 a month in interest now, before we changed we were only making £3.

20 minutes ago, Part Timer said:

Set up a regular savings ISA in December so it matures just after Christmas, so you can't spend it, and use this to pay the taxman. Also set up a smaller one for June maturity then you can't be short to pay the tax bill.

The interest rate on anything that isn’t help to buy seems shocking at the moment. Virgin Money do a regular saver that you can only withdraw from twice a year and give 1.5% we have a second account t with them that gives 3% but you can only add £250pcm to it.

Edited by P4dstar

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Part Timer
11 minutes ago, ks789 said:

I cant do that. They say you can open one every year or something? but Ive had this help to buy isa going for a couple of years and they say cant open another isa while this is going. you can put a max of 200 a month in it.

Thought you were allowed as many ISA's you wanted in a year as long as you didn't exceed the legal amount, I think £6k cash a year, must be wrong.

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ks789

yeh I would've liked to open another one but dont think you can while doing the help to buy one. Interest rate aint too bad, but the real benefit is only if you do actually use it to buy, as if you have the max of 12k they will give 3k. 

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Part Timer
4 minutes ago, P4dstar said:

he interest rate on anything that isn’t help to buy seems shocking at the moment. Virgin Money do a regular saver that you can only withdraw from twice a year and give 1.5% we have a second account t with them that gives 3% but you can only add £250pcm to it.

But if you're using it to pay your tax bill then any interest is better than leaving it in a current account. Set one up in the Wife / Partners name as well.

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P4dstar
2 minutes ago, Part Timer said:

Thought you were allowed as many ISA's you wanted in a year as long as you didn't exceed the legal amount, I think £6k cash a year, must be wrong.

I think the exception is the help to buy, if you pay into one of those you can’t pay into any other. They are offering 2.5-2.75% interest against the usual 1% though. They also give you a £50 bonus for every £200 you put in towards the purchase of your first home.

 

i seem to remember what you’re saying on ISA’s though, ain’t had one for years but I think that’s correct on normal ones.

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Part Timer
Just now, P4dstar said:

I think the exception is the help to buy, if you pay into one of those you can’t pay into any other. They are offering 2.5-2.75% interest against the usual 1% though. They also give you a £50 bonus for every £200 you put in towards the purchase of your first home.

 

i seem to remember what you’re saying on ISA’s though, ain’t had one for years but I think that’s correct on normal ones.

I'm just a poor part time window cleaner so my tax bills are negligible anyway so I don't need to save 🙄

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ks789
7 minutes ago, Part Timer said:

I'm just a poor part time window cleaner so my tax bills are negligible anyway so I don't need to save 🙄

I do some paye work besides windows. maybe drop it in the future but I still love getting that paid holiday entitlement. Will see how things pan out.

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Part Timer
Just now, ks789 said:

I do some paye work besides windows. maybe drop it in the future but I still love getting that paid holiday entitlement. Will see how things pan out.

Never drop paid work unless you can replace it with something much better. I still dabble in the scrap game and on a few occasions I've thought about giving it up but it grosses about £18k a year for very little time commitment. 

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ks789
1 minute ago, Part Timer said:

Never drop paid work unless you can replace it with something much better. I still dabble in the scrap game and on a few occasions I've thought about giving it up but it grosses about £18k a year for very little time commitment. 

Yes true. Also if get weathered off still got the indoor work. Scrap, I took a load of my dads old brass and copper plumbing fittings and pipes, was surprised how much was worth, and old batteries, but they told me some years back the prices were temporarily much higher.

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Part Timer
6 minutes ago, ks789 said:

Yes true. Also if get weathered off still got the indoor work. Scrap, I took a load of my dads old brass and copper plumbing fittings and pipes, was surprised how much was worth, and old batteries, but they told me some years back the prices were temporarily much higher.

Lead is probably close to an all time high and whilst copper and brass aren't they're not that much off. I don't deal at this level I'm more into factory arisings and 10 - 20 tonne loads of aluminium.

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ks789

That sounds bad, I didnt tea leaf them off him, he'd died and used to do plumbing/heating engineer. He'd kept draws and trays full of all these old bits, which we would never use I doubt, so weighed them in.

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P4dstar
35 minutes ago, Part Timer said:

But if you're using it to pay your tax bill then any interest is better than leaving it in a current account. Set one up in the Wife / Partners name as well.

We've got 4 of those high interest savings accounts between us and a help to buy ISA. I agree 100% but then I have self control and budget my money, if people are incapable of not spending it then send it straight to the tax man.

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ks789
2 minutes ago, Part Timer said:

Lead is probably close to an all time high and whilst copper and brass aren't they're not that much off. I don't deal at this level I'm more into factory arisings and 10 - 20 tonne loads of aluminium.

Thats more worthwhile. I dont know much about it but ive heard that silver is ridiculously under-priced. Its used for so many things. Might be worth hoarding some in case theres a run. Bit of fun, watching the price.

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P4dstar
Just now, ks789 said:

Thats more worthwhile. I dont know much about it but ive heard that silver is ridiculously under-priced. Its used for so many things. Might be worth hoarding some in case theres a run. Bit of fun, watching the price.

Silver and gold always go up in value. Safest investment there is. No matter the economic climate they are always valued highly.

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GSS Window Cleaning

I put £100 a week away to cover tax bill. But payment on account is something a lot of people don't know about untill they're accountant tells them about it. I'd never heard of it before. The first years the worse as you have to pay 18 months upfront and all due on the same day 31st jan so if you haven't budgeted for it you can find yourself in a bit of a pickle. It's even worse if your earnings go up each year which mine have as I'm needing good books to be able to get a mortgage this year fingers crossed. As you have to pay the difference and then 6 months up front also. I think it's rubbish them saying it's a way of helping you pay your tax bill tho. For me it's a way of the government ensuring they have at least 6 months tax guaranteed upfront off you. Seems like they allways hit the self employed where it hurts. I put 38k through my books last year and my tax wasn't no where near 5k tho. 

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