5 Things You Need to Become a Self Employed Tradesman In the UK

A lot of money can be earned if you know a skill that’s in demand such as fixing electricity issues at homes and offices, setting up pipelines, clearing mold from homes, installing floors and doors etc.

While one option is to work under a company as an employee to earn on a monthly basis, there’s another option that’s more benefitting. We speak of becoming a self employed tradesmen in the UK.

Here are 5 things you need to become a self employed tradesman in the UK

1. Training And Qualification

To become a self employed individual, you must know a particular skill set that you can sell. If you already specialize is a certain field, let’s say, plumbing or carpeting .then you’re good to look for clients. However, if you aren’t then learning a skill should be your first priority.

You can join an institution that trains people in various fields such construction work, installing roofs, fixing vehicles, maintaining gardens etc. Pick a field that you have the most knowledge about and learn to work. Also, don’t just look at the financial side, pick a field you have personal interest in so that you can do it well.

The more skilled you are, the more money you will earn. Remember that you’d be competing with many local and national businesses in the field so you need to improve your skills as much as you can.

2. Tax

If you have decided to work as a sole business then you need to consider paying tax and national insurance. First, you need to register at HMRC because this gives you legality to run a business, hire more people, work for clients, sell services or goods etc. Once you do, you will have to pay for taxes for the income you earn.

If you’re making money between £11,850 to £46,350 then you need to pay 20% income tax to HMRC. The slab increases as your earnings increase. Check the official site for exact figures.

3. Equipment

You will need all the latest tools of high quality to get the job done. It is important to have quality tools to carry out your job so make sure to find high quality tools.

Other than this, you will need conveyance so that you can reach your destination on time.

4. Insurance

Never start out without having an insurance plan. A lot can go wrong while you’re at work. You may accidentally damage the customer’s property or suffer an injury. This calls for buying a public liability insurance. You can search for the cheapest liability insurance UK to find an insurance company that is affordable.

5. Marketing

You won’t be getting clients while sitting at home and doing nothing. Come up with a marketing strategy and spread the word. With so many people now on the web, online marketing can really help you find an audience.

The Verdict

Once you have taken care of these things, you are good to go.