Not sure if I am in the right section here so please move the topic if it is.
Long story short I finished year 11 in July last year and I started studying a BTEC Level 3 in I.T. until Christmas. At which point a local school opened withan apprenticeship oppertunity working as an I.T. Support Technician. I left the Sixthform course to take up this position, and I have loved every minute so far.
My only problem is that I only earn minimum apprenticeship wage (£2.65 an hour) so I don't really have much left after paying my board, my transport to / from work and for food etc.
I had an idea, while still at school last year to start doing some work outside of school as a self employed technician but I wasn't taken seriously as a 15 year old so didn't get any work other than friends and family. I tend to have a lot of spare time after work and on weekends since I don't have many hobbies and my friends are all studying for sixthform and college. As such weekends and after work could be easily spent earning money from being self employed, and in my area, there really isn't much in the way of PC repairs.
If anyone has any experience in setting up this sort of thing in terms of tools needed like recovery tools or actual maintenance tools then it would be a great help to post it below. Good ways of advertising would also be much appreciated. (I'm on a limited budget in terms of advertisements so I can't really afford to be putting add's in popular newspapers or anything like that.)
I don't know much about the HMRC either, other than if I earn less than 7.2k per year then I don't need to pay any tax, so any help on that front would be much appreciated.
Thanks in advance guys,
Last edited by NerdNamedMatt; 18th February 2013 at 04:22 PM.
Reason: Forgot some information
As I'm in a rush here are a few (brief) things to consider:
Tax: Whatever your company earns will be liable for tax. Don't confuse personal income for company income as you will have to pay corporation tax on any profit you make as a business. Get an accountant they really can help a lot more than trying to do it yourself.
Insurance: If you are providing a service to others such as repairs etc. you will need liability insurance to protect yourself from claims of bad work or injury from your actions (perceived or otherwise).
I was self employed for 3 years and limited for 3, I would highly recommend a friendly good accountant, they will handle all the issues you have. Don't forget to buy into insurance as well. always useful if you move to larger company support.