A limited company is a disaster as a sole trader. Your best option is to strike it off , sometething you can do yourself by filling in a form. The only real reason for one is it separates the business finances from your own, but you have loads of legal obligations to file accounts, etc. Unless you are planning to take significant business risks and finance you are just adding extra complications, but more work for an accountant, hence some advise this. Another negative is the fillings of limeted companies are a public record that anyone can view so your competitors can see right into your business and more than you might want to divulge.
There can be many reasons why a limited company can be advantageous . Without knowing all his business affairs and income streams and plans for the future it’s hard to be definitive with assumptions
Thank you both very much for your input. Pablo, you're correct from the conversations I've had with the accountant so far. You need to be profiting/turning over much more than I am for it to be worthwhile!
Hi mate great video buddy Love your enthusiasm you will go far mate Have you still got the br600 we gave you mate did you order the new flywheel for it Once going it will make your life easier buddy especially later in the year
I haven't looked at the BR600 yet, however, I picked up a bargain today. A KM55R with a strimmer attachment and an HS45 for £125, both in running working order! Unfortunately, one of the mowers I was going to look at had already been sold, so there was only one Honda HRB 476 rear roller, and I plan on keeping it. Once a drive cable arrives, it will be brand new. I paid £100 for that bargain. Old plastic deck, too. What you think. Thank you very much for the comment, Peter. I hope you are doing well.
Be careful as limited company and also careful about hitting the 20% then sudden hop to 40% tax rates when your business increases etc. because if you start earning a certain amount they'll bump up your tax margin from the 20% to over 40% which is a quite a hike upward lol. Also, accountants can cost a fair wedge to! Make sure they're reliable and have good reviews imo. Best of luck fella
I don't understand why you would go shirtless at a customers property I myself do gardening work and wouldn't dream of it it looks so unprofessional. You do Great work and I believe with your enthusiasm you will make a Great business.. Just keep your shirt on.😊
Taking my shirt off changes absolutely nothing; the work I'm going to do will still be the same. The customer is still going to get the result. Whether I choose to have my shirt on or off is entirely a personal decision. I've said this so many times before, but I'm not going to change my personality in the name of professionalism. What you see is what you get with me. I think most of my customers see that! I show authenticity; I'm not faking a thing. Why put on a fake front for work? I couldn't think of anything worse than having to put on a front every day. But hey, ho, I'll keep smiling every day, loving life... I also could never put a workforce together and not expect any one of them to take their shirt off in the summer. That's ludicrous.
Shirt off is a no no. 1. It maybe your choice but not your customers choice. 2. It does look a little unprofessional it’s a garden not a building site ( not that they are allowed anymore) 3. Health and safety. This is just an observation not a dig. Everyone wants you to succeed.
@@tiffpickford9722agree, I don’t take my shirt off and nor would the lads although I wouldn’t even have to tell them that it’s just standard procedure 😂
When I started out, I, like many others, chose the Hyundai gear. And to be honest, for their price point, they're decent. Bits of their kit, from my experience, are also fairly durable compared to other Chinese off-brands. However, they have one massive downside: they weigh twice as much as anything else on the market, so you do get very worn out using their kit. Honestly, I would save up some money and get yourself a good set of second-hand machinery. That's what I'm starting to do, and I wish I'd done that from the start.
If a limited company is anything like a LLC in the states, the personal protection is worth every penny. I went my first 6 years in business not knowing every day driving a work truck and doing business I was jeopardizing my personal assets. Make sure you know the personal liability if something happens. I now carry 5 million in business insurance and 1 million in business auto. One accident or mishap could cost you everything.
@tpii, That's the purpose of public and employee liability insurance in the uk. The protection of a limited company is only if you borrow money and go bankrupt unless you have substantial personal assets this is unlikely, as a new business if you did have personal assets most of us would use these rather than borrowing money. It is something that makes more sense for bigger businesses only.
I know people who have businesses that turnover about enough to be a limited company, but they play clever tricks to make sure they keep under the limit because it’s a nightmare for paperwork.
Yeah, I understand it's a nightmare for paperwork, mate, but when you're at that point, I do think there are a lot of tax advantages to it. That's just why I went out and got an account.
Personally, I’m going to say no, there is no need for a uniform. There are many, very, very big companies with no uniform at all. However, I think it really gives me an advantage due to my young age and appearance. I think it shows authenticity in my situation.
@@HDGardenCare I agree with Kevin, looking like someone whos doing this work for extra money or, wearing a uniform like all garden services companies I know and myself and workmates, company uniform definitely puts across a professional look that will set you apart from the dole birds and part timers. I personally buy extra clothing so who ever is working for me still has branded company clothing. You will see this the further along the path your on. Your doing well and your enthusiasm will definitely help you grow👍 Also, I'm registered as a sole trader not a limited company. For me this was better. Both have advantages and disadvantage's everyone's situation is different so speak to your accountant on what you are doing now and where you want to be and take his advice. A mistake here can be costly.
Email is probably the worst way to contact me, 🤣 I'll check it out now though. Just give me a ring, and I'll discuss it in person. 07368 350463. Cheers, bro, I look forward to hearing from you.
A limited company is a disaster as a sole trader. Your best option is to strike it off , sometething you can do yourself by filling in a form.
The only real reason for one is it separates the business finances from your own, but you have loads of legal obligations to file accounts, etc.
Unless you are planning to take significant business risks and finance you are just adding extra complications, but more work for an accountant, hence some advise this.
Another negative is the fillings of limeted companies are a public record that anyone can view so your competitors can see right into your business and more than you might want to divulge.
There can be many reasons why a limited company can be advantageous . Without knowing all his business affairs and income streams and plans for the future it’s hard to be definitive with assumptions
Thank you both very much for your input. Pablo, you're correct from the conversations I've had with the accountant so far. You need to be profiting/turning over much more than I am for it to be worthwhile!
Hi mate great video buddy
Love your enthusiasm you will go far mate
Have you still got the br600 we gave you mate did you order the new flywheel for it
Once going it will make your life easier buddy especially later in the year
I haven't looked at the BR600 yet, however, I picked up a bargain today. A KM55R with a strimmer attachment and an HS45 for £125, both in running working order! Unfortunately, one of the mowers I was going to look at had already been sold, so there was only one Honda HRB 476 rear roller, and I plan on keeping it. Once a drive cable arrives, it will be brand new. I paid £100 for that bargain. Old plastic deck, too. What you think. Thank you very much for the comment, Peter. I hope you are doing well.
Be careful as limited company and also careful about hitting the 20% then sudden hop to 40% tax rates when your business increases etc. because if you start earning a certain amount they'll bump up your tax margin from the 20% to over 40% which is a quite a hike upward lol. Also, accountants can cost a fair wedge to! Make sure they're reliable and have good reviews imo. Best of luck fella
It’s more complex than that with regard to the tax rates.
I think you're getting corporation tax and personal income tax confused in this comment!
Good video. From a young guy...
Thank you, my next video will be one to watch! We are on land drains.
Fantastisch Good work harley you te best te famey te natuur te House best fried Top sundy 🚚🪤🚜🌾🌿🧹👍🌤🧢🧤🚧
Legend
I don't understand why you would go shirtless at a customers property
I myself do gardening work and wouldn't dream of it it looks so unprofessional.
You do Great work and I believe with your enthusiasm you will make a Great business..
Just keep your shirt on.😊
So Is it not great advertising? no? Just me! 🤣
Taking my shirt off changes absolutely nothing; the work I'm going to do will still be the same. The customer is still going to get the result. Whether I choose to have my shirt on or off is entirely a personal decision. I've said this so many times before, but I'm not going to change my personality in the name of professionalism. What you see is what you get with me. I think most of my customers see that! I show authenticity; I'm not faking a thing. Why put on a fake front for work? I couldn't think of anything worse than having to put on a front every day. But hey, ho, I'll keep smiling every day, loving life... I also could never put a workforce together and not expect any one of them to take their shirt off in the summer. That's ludicrous.
@@HDGardenCare 👏🏼
Shirt off is a no no. 1. It maybe your choice but not your customers choice. 2. It does look a little unprofessional it’s a garden not a building site ( not that they are allowed anymore) 3. Health and safety. This is just an observation not a dig. Everyone wants you to succeed.
@@tiffpickford9722agree, I don’t take my shirt off and nor would the lads although I wouldn’t even have to tell them that it’s just standard procedure 😂
Could you recommend a budget strimmer and blower for a start up please mate? Enjoying the vids!
When I started out, I, like many others, chose the Hyundai gear. And to be honest, for their price point, they're decent. Bits of their kit, from my experience, are also fairly durable compared to other Chinese off-brands. However, they have one massive downside: they weigh twice as much as anything else on the market, so you do get very worn out using their kit. Honestly, I would save up some money and get yourself a good set of second-hand machinery. That's what I'm starting to do, and I wish I'd done that from the start.
@@HDGardenCare thanks mate
I think one of the was scarifier
If a limited company is anything like a LLC in the states, the personal protection is worth every penny. I went my first 6 years in business not knowing every day driving a work truck and doing business I was jeopardizing my personal assets. Make sure you know the personal liability if something happens. I now carry 5 million in business insurance and 1 million in business auto. One accident or mishap could cost you everything.
I'll have to do some more research on this, mate. I'm not too sure, like I said. I'm working with a professional, and I'll get my answers!
@tpii, That's the purpose of public and employee liability insurance in the uk.
The protection of a limited company is only if you borrow money and go bankrupt unless you have substantial personal assets this is unlikely, as a new business if you did have personal assets most of us would use these rather than borrowing money.
It is something that makes more sense for bigger businesses only.
I know people who have businesses that turnover about enough to be a limited company, but they play clever tricks to make sure they keep under the limit because it’s a nightmare for paperwork.
Yeah, I understand it's a nightmare for paperwork, mate, but when you're at that point, I do think there are a lot of tax advantages to it. That's just why I went out and got an account.
Fantastisch Good work harrly you the best te famely te moostiun thans te video Top weekend friend Top men 🚚🌿🌾🚜😎🌞🍹🎧🧢🧤🚧💯%😅
Thanks.
Fckin what 😂
Jamie...if you can't understand that then you aren't exactly the smartest lad eh....That was easy to read lol
@@danh9503 aye mate I’m illiterate
You boys made me giggle aha.
Tidy job on that last rockery
Thanks mate I appreciate the comment.
Do you think there is a need for a uniform just asking seems jogger bottoms and jack boots seems a bit inappropiate
Personally, I’m going to say no, there is no need for a uniform. There are many, very, very big companies with no uniform at all. However, I think it really gives me an advantage due to my young age and appearance. I think it shows authenticity in my situation.
@@HDGardenCare I agree with Kevin, looking like someone whos doing this work for extra money or, wearing a uniform like all garden services companies I know and myself and workmates, company uniform definitely puts across a professional look that will set you apart from the dole birds and part timers. I personally buy extra clothing so who ever is working for me still has branded company clothing. You will see this the further along the path your on. Your doing well and your enthusiasm will definitely help you grow👍
Also, I'm registered as a sole trader not a limited company. For me this was better. Both have advantages and disadvantage's everyone's situation is different so speak to your accountant on what you are doing now and where you want to be and take his advice. A mistake here can be costly.
Fantastic comment and some great advice. Thank you very much mate.
Hi mate, sent you an email about a potential job 👍
Email is probably the worst way to contact me, 🤣 I'll check it out now though. Just give me a ring, and I'll discuss it in person. 07368 350463. Cheers, bro, I look forward to hearing from you.
@@HDGardenCare Cheers Harley.
You mean you didn't buy a mower???? That would be essential
Im going to look at 2 mowers today in the next hour so you may see something in the next video.
Do you think a uniform is essential I personally don’t think it is jogger bottoms and jack boots
How old are you mate?🙏🏻
Young age of 21!
@@HDGardenCare wise beyond your years mate! Love your channel