I don't do LTD for the money, I just cant stand giving 22% of my earnings to a government who sends it overseas in Foreign Aid or keeps illegal migrants in 4 star hotels
Yo Deady. Been laid off after 17 years and have started my LGV journey. Really appreciate you uploading how you have got to this point because it’s helped me millions. Passed CPC mod 2 today and done my theory’s. Practical for class c a week Monday! Thanks a lot dude. Lee from Cheltenham 🤟🏻
Not sure if you have yet But I’m new to the scene and just passed my tests and was wondering you could do a video on what sort of kit you bring to work with you in your lorry and the daily essentials
Always take a overnight emergency bag with you. Pot noodles, cans of pop, crisps etc basically non perishable foods. I do tramping in my own wagon Monday to Friday so my Scania is fully kitted out for me, but if you’d on agency work or cab hoping you never know when you’ll end up in a situation where you could end up doing a overnight stop.
Aye, if you're on agency work it's a bit of a pain in the arse, you have to hump a big bag of shite around from truck to truck cause you never get told what you're doing or where you're going in advance... If it's any help, I have a little list I made sure to pack when I did agency work: [ ] TACHO CARD!!! [ ] CPC card [ ] Driving license [ ] Timesheets (crucial, you want to get paid after all...) [ ] Notebook [ ] Pens [ ] Gloves [ ] Hi viz jacket + trousers [ ] Boots [ ] Hard hat [ ] Waterproofs [ ] Sunglasses [ ] Hands free [ ] Stanley knife [ ] Snips [ ] screwdriver set [ ] Phone charger cable [ ] Phone holder [ ] 12v usb plug [ ] Power bar for phone (in case 12v socket is fucked, shit old truck etc) [ ] Sandwiches [ ] Water [ ] Snacks [ ] Book [ ] Coffee cup [ ] Thermos of coffee [ ] Spare tshirt
When choosing an accountant please be aware and choose wisely, I didn't. I chose an accountant who said they would charge me an annual rate, but I could pay monthly. Long Storey short they submitted my first- and second-year accounts late, which led to me having fines from HMRC of over £1000. Which they totally refused to pay al-be-it it was 100% their fault. And accountancy fees of two grand to boot. Moral of the Storey never go for the first one to offer you what seems like a good deal, always do some research. Needless to say, they were not my accountants for the third year of trading and my accountancy bill was half of what they were charging me.
Deady i am a massive fan of yours and always will be. in this case i think your mad, i have been in business for 15 yrs and i feel i know the system. Your earning £200 a week more than Paul with less security than him. You have accountants costs, no holiday pay, no sick pay , no pension unless you pay into a private one and you pay your own national insurance which will be a very basic contribution. I personally would go for employment. if you were earning night and day ie, £1200-£1300 a week i would say it was worth it but not £200 its not enough buddy for the hassle and outlay. SORRY! keep up the good work and i look forward to your next video.
Meh, can file returns yourself. I also much prefer self employment/Ltd. However, could be a reason why you got so much shit from ws. As you were self employed and not employed
PAYE is the way forward. Holiday pay, pension and hourly rate matches employed drivers. Ltd is dead and will be forced out in April it’s only a tax dodge and the Chancellor cereal you knows this. Avoid umbrella at all costs. You pay employer and employee NI, charged a fee and you can’t claim expenses. No holiday pay or pension. Mugs game.
That was very interesting and informative fella. Just for comparison I've been self employed for 27 years now, whilst I've been relief driving on 32 tonne tippers I was making £120 per day, no nights out, usually parked up within 11 hours. One of the biggest pro's for me at my age is that I have the say in what time I finish, so if I have a nightmare of a delivery in a morning I can say that's it I'm having the rest of the day off, which I have done a few times. I really hope the guy in the black merc rigid comes on a leaves a comment he was obviously a fan. All the best.
I did want to go elf employed but I couldn’t get a mortgage when I was self employed, no one would touch me. As a result I’ve now gone PAYE and coincidentally got a mortgage. But as soon as my circumstances change I’ll definitely be going LTD.
PAYE driver paying all his taxes and contributions. LTD drivers finding every possible way, up to and including those on the borderline of criminality, no to pay taxes. Criminal aspect I'm talking about is very common situation, bloke throwing post on facebook " I will buy costs, all kind of receipts urgently needed". Why do you need that - you ask individual. Because if I have costs (expenses) than I can fuck about with taxes.... But you didn't spend money to make this work/business related purchases... Response is "so what?" IR 35 was introduced way way to late. I knew many English and foreign drivers and all of them were doing this up to wider or smaller degree.
Having being an IT contractor as a LTD company I would definitely go with PAYE. The time, stress and admin and trying to keep on top of everything just wasn’t worth it for me.
Good video Deady and spot on with the advice. Basically PAYE you have security of knowing you’ll get paid, have paid holiday and sick pay etc. The downside is you’ll never earn as much as a driver who’s self employed. You take yer chances yet makes yer choice. I’m PAYE because I have a mortgage and kids and trying to get a mortgage when self employed is a bloody nightmare, plus when I have holidays during the school holidays I know I can sit back and know I’m getting full pay for the weeks I’m off. However once my circumstances change, I’ll definitely be going self employed👍
Morgan moore go for it mate 👍 don't let any fucker tell you you can't and if so go on do your truck driver training get your license and wave it and tell them to kiss your ass .
billy mallon agreed. And once you have your license class 1 or 2 you’ll never be out of work. Ok it’s not the best pay in the world and we do long hours but we work in a Industry where were always needed👍
You can’t legally work as a HGV driver and be self employed, Ltd is just a way to get around the self employed status. Drivers only try going self employed or Ltd to avoid paying tax, it’s all cool until the taxman comes calling !!
Hiya deady hope you keeping well! May I say how smart you look! Love your lil hat! ;) I only saw WS logistics for the first time on the A12 toady lol I wondered if its you... I've been driving now for 7 months and really enjoy it! Cause of the subject I'm a contracted employee and much more prefer it job security and benefits that you don't get with agencies..
Great insight and both have advantages to different situations. I've already got a small ltd company with 1 buy to lets in so far, so it doesn't make sense to setup another. On top 3 buy to lets in my name meaning the calculations come back if I earn over 27K im gonna get stung on tax by 40%, hence luckily my agency accounts team are allowing me to salary sacrifice a chunk into my work pension at source so im not hitting high tax deductions plus get tax relief . 3-4 days on agency love it, will never go back full time with a company, love the flexibility.
Yup dd how are things thanks for letting people know . Thanks for your advice and letting people know how to get a job fair play to you. You know you will get shit from haters that think they know it all but just do what you do Have a nice one mate
I'm a payee & my flat rate is £12.55 with overtime rate at around £17 per hour, this is driving a van delivering motorbikes for accident claims. I want to do my hgv test to drive lorries, don't want to do 15 hour days though or stay out at night that's for sure. I average around 9,10 & 11 hours most days. 5/ 6 days a week
Deady please don’t forget agency workers as for the agency worker paye they make you pay them to pay you ... yes 2 years ago it worked out like something like £200 I was paying them so I had to work very quick to become ltd and I can choose to do both paye and ltd which means I pay less tax or get a tax rebate come what April nice chatting
work out the cost of tax and ni add that in to your hourly rate do the same with pension contribution, dont forget if u wash your uniform if the firm your contracted to supply one u can claim for it as a expense
I've been ltd company now for while i can make £1100 weekly very easy and paid no tax on it . . by having 2 days off in the week instead of having weekend off . can earn £21ph on Sunday . so its a no brainer really . i also like the fact that i can take a week off when ever i want with very short notice . nerve used a accountant and no one ever asked me for one personally . but yeah your right these too many loop holes for ltd company drivers . you can right off miles .....too and from work buy new satnav . yep its a right off . these loads you can right off . I'm not going to lie . I'm going to mis it when the ir35 come in
@Wahoo RICE COOKR yeah yet another loop holes is keep the salary low and pay 19% tax . And keep the dividend high and pay as little as 7.5% tax . At the end of the tax year . What ever tax I do pay I can right it off with company expenses
@@ilovemultipacks yeah I can get that most weeks but I do get slow week . Working within lockdown and people online shopping more then ever . Its been a good year for me personally. I thought I would get but stick for that comment but I cant really say I agree with it . Its like a plumber turning up too your house and asking to borrow your tools to do the job . Never less it is what it is and if I can make more money . Im going to do that .
Another down side to being LTD is if your looking for loans/mortgages/finance you will struggle more as company’s want allot more documents from you such as years of bank statements.
Top vlog Deady thank you for explaining all that. I have a question - do you know how much fuel tanker driver earns ? 4, 5 or 6K per month, because so many lies and legends are talked on this topic.
This is the first time I need to tell ya that you got it wrong ! The only reason you pay that low NI is cuz you as a paye of you own limited company pulling out something round £789 a month plus offcourse dividents. If you will evee cross that - ea use round £600-700 a week - you should pay same NI as the people on paye - hence the reason of IR35 in first place. Im Limited and I don’t care - the only reason I’ve oppened it its the freedom of pick and choose
I run a business with my wife that is nothing to do with transport, we have been trading for over 20 years and have an accountant. We are listed as a partnership. We are not a limited company so why can't I work as a self employed individual without using a limited company.
There is no legal reason but no agency or company will use sole traders or partnerships. I was sole trader for 10 years and had to become Ltd to get part time driving work
Ltd companies have an additional benefit in that they have limited liability. So if someone tries to sue the ltd company, it can just close. The owner of the ltd company doesn’t pay. His ltd companies insurance might, if he has any. The owner keeps his house etc and avoids losing out. He then opens another ltd company in a different name and escapes the law. Or so it seems.
In regards to sick pay for PAYE employees, do most companies only pay statutory sick pay? Statutory sick pay is not much apparently? I work in a different industry, but I'm thinking of getting a HGV license. My company pays full pay for sick leave. For self-employed people, I've seen insurance policies to cover sick leave, so at least you don't need to worry about money if you're sick.
Ever since coming back to driving just over 2 years ago now I've wanted to go LTD, that was the plan to go class 2 and ADR LTD. With this IR35 hanging over my head I've got 2 out of 3 with ltd still not yet done ! So here we are IR35 is out now so how actually has it changed from this video to present with the way you do business!? Any info would be great as I still beleive its the way to go..? Ps that guy could of been me, as I did exactly that when I seen you coming of Steak Hill Ind Est a while ago now haha seen the name plate an thought No way !!
IR35 just shat all over us self employed folk, i wouldn't touch an umberella company EVER and PAYE is just not worth it for the job your doing. Before this LTD was by far superior with a good accountant and if you also know how to do your own books so know where you are aswell because you pretty much kept everything you earned apart from paying your accountant and very small amount of tax but like i said IR35 just ruined it.
When I was self employed, you was talking about not getting paid when you are off work, there is actually insurance out there you can pay each month and if you are ever injured or off sick for a long time they will pay your wages until you are back at work, sure it's liability insurance. Also another con of being self employed, you have to work at least two years in the same job before you can get s mortgage, where as on PAYE it's 6 months
Could I just ask a question mate, if you did 3 15’s, 1 13 and a 10, that’s a 68 hour week, I thought the max if you choose to opt of out the 48 hours is 60 hours max in a week, how can you do 68, I’ve seen others go over 60, but I was always told it’s a max 60 hours in a week, so I’m a bit confused, could you explain if you can mate, cheers
We don’t actually ‘Work’ all them hours. At least 60 mins per day on break. Then when being loaded, waiting around, maybe stopping for a shower? All comes off working time. I was sat under a crane in London for over 5 hours yesterday. That was all spent on Break.
Deady 2012 oh right I didn’t know that breaks and that come off working time, learn something new everyday, thanks for the reply mate appreciate it, when you spent 5 hours on break did you have that as a split break day, not sure if this is the right way, so later on you’d have a another break of 7 hours when you’ve finished to make the 12 hours daily rest
Great video! Q: How hard is it to get into driving class 1s with no experience? Plenty of cat 1 jobs available but the majority state you need a minimum of 2 years cat 1 experience. Would you advise driving class 2 first to get job exp? Although does class 2 exp really contribute to class 1 exp? Any info much appreciated, cheers!
Hi deady I’ve been watching you for a long time and I have enjoyed every single vlog keep up the hard work ! I’ve just managed to pass my theory test today, I live in Birmingham, what school would you recommend me for my practical session?
Matt Y hi mate I rang them up, they quoted me with over ?1200 I rang other companies as well most of them were around £1100 I’m not sure who to go for , I preferably want to go for a company that will actually teach me probably not scums
Kamal Usman I used them mate and they were decent to be fair. But that was 4 years ago so can’t say what their like now, although I doubt they’ve changed hands etc? I only used them as they were local so if i got any issues I could pop in and see them, but I had no issues whatsoever. Good luck anyhow whoever you decide to use. It’s a great job, long hours, but that’s the industry, but you are your own boss, no manager breathing down your neck, and once you have the experience and get your own cab it’s sweat. I’m tramping tonight, parked up down in Devon overlooking rolling fields just chilling in my cab on a comfy bed, fridge, microwave for hot food & watching Netflix, and getting paid decent money for it👍
Matt I live close to Halesowen too, I just can’t wait to get on the roads as this is something I’ve been dreaming about since I was kid, right now I’m 22. I will go for Halesowen as they look more professional and have good reviews, when I rang them today, they told me we will give quote after they examine my driving then I also asked them how much roughly will be, he quoted £1200
Very intresting video , and thank you for the honesty, and giving a view across the board of the pros and cons, having had my own business and now paye , I would never go back LTD , like you said you do earn more and pay out less, but just having a more concrete employment base and sick pay , holidays paid , is what wins the paye for me, and even hearing how little the stoppages can be when LTD compared to what i pay out still would not persuade me to change and with IR 35 coming it will push the balance back to paye , im sure this video will help new starters in to this indusrty we love make an informed decision , and all wrapped up in a crazy presented 23 minutes and may i say truly love it and yes at times your as mad as a box of froggs but thats what keeps bringing us back to your videos , keep them coming
Yes it’s the security of PAYE as well. Knowing if your suck or on holiday you’ll get paid. I had two sick days last week as I was genuinely poorly although my boss probably didn’t believe me and I just booked my shifts to a sickness overhead, job done, still got paid a full week👍
Matt Y we r very lucky we get 6 month full pay sick pay and then it reduces to 3/4 pay for 3 months then 1/2 pay for 3 months then it’s down to management to pay or not and our holiday pay is an average pay from last 13 weeks so cos we do a fair bit of overtime our holiday pay is brilliant and we also get lieu time for working bank holidays and a day off for Xmas shopping too paid
Being employed with a big firm can give a little more security.... been all three and it’s less bother being employed. Allow others to worry about getting work Oh , and paid holidays are much better than unpaid ones.
Thank you for that information on your video keep up the videos mate you are fantastic but can I just say I am self employed feel my company just tell me when I'm coming in when I'm not coming in but when I have got other work they get grumpy just the joys of being self-employed but to be truthful with you mate the government is locking down on self-employed people especially in the haulage industry
Same here on the £12 ph on class 2 day work (plus bonus and overtime). I looked into class 1, but a lot of work was on less an hour and nights out! I’d say we may be in the minority of class 2 drivers that work for decent paying companies 👍🏻
Day work does generally seem to pay around the same. If you got paid the same as the long distance guys, you wouldn't earn any money so you wouldn't do it.
Ltd driving should be scrapped as your not running a business your just driving someone elses business.and its making conditions for paye employees worse.
The problem is everyone does it lol. Pierce Morgan is LTD. He works for ITV. Lorraine is LTD. She works for ITV. Holly Willoughby is... get my drift? Jimmy Carr is, he works for Channel 4. We are small fish, in the sea. We have no effect on PAYE employees in any way shape or form.
I have to pay £776 a month on child support and iv wanted to go ltd for a long time because she's refusing me let my see my children. And £776 is just breaking me I'm almost working all month free of charge by time iv paid all the bills. But the company I work for have said they can't take me on as ltd if I do it and I really like the firm I'm working for . They say it's because it's hassle for them and there accountant won't like it or something
This is a subject I'm really interested in at the moment, because I'm considering using a LTD company with two trading names so that I can work as a driver during the week and (since I live rent free in the boyfriends payed off house) feed the money I don't need straight away into investing in property and buy to rent. It seems like the best way to save on taxes at the moment.
Don’t know if this is still possible, but open 12 ltd companies. Each month, the profit gets paid to the next ltd company therefore never making a profit and never paying tax! I’m sure TC Harrison car people did this 😂. When they had too much cash, they bought ‘assets’ like vintage supercars and private number plates... 🤯
I suspect that the changes are to get rid of bogus self employment. You could well be one of those. There you are wearing WS clothing, driving a WS liveried vehicle, acting under their direction, buying fuel using their fuel card. A recognised test for bogus self employment is "its Wednesday mornng and I need to be somewhere else, can I send somebody else in my place?.
But i’m not doing WS work. I’m being sub contracted out to do other work for other companies & i don’t get paid off WS. May seem like a whole load of ‘Bogus’ but it depends which angle you are looking at. Yes i wear WS uniform (by choice) and i drive WS trucks which are leased to me for the week. And as for the ‘Substitute’ you are referencing, yes i can put another driver in my place to do my work if i so wish. I have a contacts list the length of my arm.
@@Deady2012 Your set up is likely correct otherwise you could have HMRC over you like a rash. I'm aware of some agencies pushing low paid (minimum wage) workers to become self employed. All that does is put all the employers (agency) costs such as employers NI & pension contributions unto a lowly paid worker and that just isn't right.
Didn’t realise you were self employed at WS mate, fair play, didn’t realise they offered that option. Some accountant will figure out a way around ir35 like they always do 😂
been reading comments about EARNINGS, I see alot of negative comments about pay etc dunno if theyre old drivers complaing or what, anyone here want to shed some light on CLass 2 avg earning in London
You replied to a previous comment of mine, Saying you spent 5 hours under a crane being loaded so you put it on break, could I just ask, when you spent 5 hours on break did you have that as a split break day, not sure if this is the right way, so later on you’d have a another break of 7 hours when you’ve finished to make the 12 hours daily rest, cheers mate
Hi Deady, what's your knowledge on owning a truck and working as an owner operator? Just curious because I watch a few U.S truckers who are owners. Just interested how different trucking is between here and there.👍
Try trucknetuk.com for general information. As far as I know you would have to apply for Operator licence and pass very difficult test. The courses are happening few times annually. On top of that u would require to have commercial insurance and another stuff. I wouldn't bother unless u have pile of cash to burn and few decent contracts already secured.
IR35 will probably be put back another year, just like the did this year. So when they change it, will it be like sole trader. Pay your tax and national insurance all year and get a tax return every April?
Is it really worth the effort and stress plus the O licence can be a headache with so much more opportunity out there specially online this industry is going down hill very fast its way to much stuff to go through part of the O licence you need to put a ad in the papers saying where your going to park at night basically you asking the locals if its okay to park up a truck in a yard am not sure if its even worth the hassle. The industry is way over Regulator its putting more and more people off from starting which means less Competition for the bigger Companies it wouldn't Surprise me if it all gose government own but the way the uk government is they can't get a Prime Minister without crashing the economic.
@@Deady2012 good luck mate keep the videos coming , could you please explain when you get the chance the workings of a tachograph. How long to you keep them for and why thanks
It's so shit, I'm ltd company, and loving it. It's better money and that's what I'm working for to better myself. Now it's most likely coming to a end. Absolutely shit
I'm more shocked at what at PAYE tramper earns (roughly)... I work for a plant hire company and the lads driving the sweepers on days shift earn that and are home by 4pm.. I driver a bowser and work 6-2 and I'm in that region too... Is class one money really the same a class 2!?
@@Deady2012 nah buddy I came in just as you where finishing strapping up I flashed but you where busy was about to come over and say hi then you pulled up to the gate and they started loading me so I left it sure I'll get the chance to say hi some other time
I don't do LTD for the money, I just cant stand giving 22% of my earnings to a government who sends it overseas in Foreign Aid or keeps illegal migrants in 4 star hotels
Looks like everyone is ignoring your comment instead haha
Yo Deady. Been laid off after 17 years and have started my LGV journey. Really appreciate you uploading how you have got to this point because it’s helped me millions. Passed CPC mod 2 today and done my theory’s. Practical for class c a week Monday!
Thanks a lot dude. Lee from Cheltenham 🤟🏻
Glad you found some of it useful bud! :) Good Luck!
Not sure if you have yet But I’m new to the scene and just passed my tests and was wondering you could do a video on what sort of kit you bring to work with you in your lorry and the daily essentials
Always take a overnight emergency bag with you. Pot noodles, cans of pop, crisps etc basically non perishable foods. I do tramping in my own wagon Monday to Friday so my Scania is fully kitted out for me, but if you’d on agency work or cab hoping you never know when you’ll end up in a situation where you could end up doing a overnight stop.
Matt Y thanks mate
Richie cheers bud
Aye, if you're on agency work it's a bit of a pain in the arse, you have to hump a big bag of shite around from truck to truck cause you never get told what you're doing or where you're going in advance...
If it's any help, I have a little list I made sure to pack when I did agency work:
[ ] TACHO CARD!!!
[ ] CPC card
[ ] Driving license
[ ] Timesheets (crucial, you want to get paid after all...)
[ ] Notebook
[ ] Pens
[ ] Gloves
[ ] Hi viz jacket + trousers
[ ] Boots
[ ] Hard hat
[ ] Waterproofs
[ ] Sunglasses
[ ] Hands free
[ ] Stanley knife
[ ] Snips
[ ] screwdriver set
[ ] Phone charger cable
[ ] Phone holder
[ ] 12v usb plug
[ ] Power bar for phone (in case 12v socket is fucked, shit old truck etc)
[ ] Sandwiches
[ ] Water
[ ] Snacks
[ ] Book
[ ] Coffee cup
[ ] Thermos of coffee
[ ] Spare tshirt
Nelson Sweatyballs thank you so much 🙌🙌
When choosing an accountant please be aware and choose wisely, I didn't. I chose an accountant who said they would charge me an annual rate, but I could pay monthly. Long Storey short they submitted my first- and second-year accounts late, which led to me having fines from HMRC of over £1000. Which they totally refused to pay al-be-it it was 100% their fault. And accountancy fees of two grand to boot. Moral of the Storey never go for the first one to offer you what seems like a good deal, always do some research. Needless to say, they were not my accountants for the third year of trading and my accountancy bill was half of what they were charging me.
Ltd with an accountant they can make your tax nothing but if you try and get a mortgage or a loan the banks will laugh at you
Deady i am a massive fan of yours and always will be. in this case i think your mad, i have been in business for 15 yrs and i feel i know the system. Your earning £200 a week more than Paul with less security than him. You have accountants costs, no holiday pay, no sick pay , no pension unless you pay into a private one and you pay your own national insurance which will be a very basic contribution. I personally would go for employment. if you were earning night and day ie, £1200-£1300 a week i would say it was worth it but not £200 its not enough buddy for the hassle and outlay. SORRY! keep up the good work and i look forward to your next video.
I do agree mate. I just like being Self-Employed/LTD. Can't explain it. But i do.
Meh, can file returns yourself. I also much prefer self employment/Ltd.
However, could be a reason why you got so much shit from ws. As you were self employed and not employed
Whether LTD or PAYE one thing is for certain IR35 has crippled this country period!
PAYE is the way forward. Holiday pay, pension and hourly rate matches employed drivers. Ltd is dead and will be forced out in April it’s only a tax dodge and the Chancellor cereal you knows this. Avoid umbrella at all costs. You pay employer and employee NI, charged a fee and you can’t claim expenses. No holiday pay or pension. Mugs game.
That was very interesting and informative fella. Just for comparison I've been self employed for 27 years now, whilst I've been relief driving on 32 tonne tippers I was making £120 per day, no nights out, usually parked up within 11 hours. One of the biggest pro's for me at my age is that I have the say in what time I finish, so if I have a nightmare of a delivery in a morning I can say that's it I'm having the rest of the day off, which I have done a few times. I really hope the guy in the black merc rigid comes on a leaves a comment he was obviously a fan. All the best.
I did want to go elf employed but I couldn’t get a mortgage when I was self employed, no one would touch me. As a result I’ve now gone PAYE and coincidentally got a mortgage. But as soon as my circumstances change I’ll definitely be going LTD.
Very informative that Deady, Great to see you are still enjoying the job. Your enthusiasm is Infectious. Safe driving buddie...
PAYE driver paying all his taxes and contributions. LTD drivers finding every possible way, up to and including those on the borderline of criminality, no to pay taxes. Criminal aspect I'm talking about is very common situation, bloke throwing post on facebook " I will buy costs, all kind of receipts urgently needed". Why do you need that - you ask individual. Because if I have costs (expenses) than I can fuck about with taxes.... But you didn't spend money to make this work/business related purchases... Response is "so what?" IR 35 was introduced way way to late. I knew many English and foreign drivers and all of them were doing this up to wider or smaller degree.
Having being an IT contractor as a LTD company I would definitely go with PAYE. The time, stress and admin and trying to keep on top of everything just wasn’t worth it for me.
It will be if you earn good
Good video Deady and spot on with the advice. Basically PAYE you have security of knowing you’ll get paid, have paid holiday and sick pay etc. The downside is you’ll never earn as much as a driver who’s self employed. You take yer chances yet makes yer choice. I’m PAYE because I have a mortgage and kids and trying to get a mortgage when self employed is a bloody nightmare, plus when I have holidays during the school holidays I know I can sit back and know I’m getting full pay for the weeks I’m off. However once my circumstances change, I’ll definitely be going self employed👍
You can still be LTD if the company you sub through is small enough. Little locals pay really well too
Top vlog Deady thank you for explaining all that about the difference between the two buddy take care of yourself and stay safe and well buddy
You reaction at the end to me waving at you🤣🤣🤣
Very interesting deady. Want to be a truck driver when I'm older. Great video by the way
Morgan moore go for it mate 👍 don't let any fucker tell you you can't and if so go on do your truck driver training get your license and wave it and tell them to kiss your ass .
billy mallon agreed. And once you have your license class 1 or 2 you’ll never be out of work. Ok it’s not the best pay in the world and we do long hours but we work in a Industry where were always needed👍
@@matty6848 thanks guys
@@billymallon7342 thanks guys
@@morganmoore1592 no prob mate 👍
You can’t legally work as a HGV driver and be self employed, Ltd is just a way to get around the self employed status. Drivers only try going self employed or Ltd to avoid paying tax, it’s all cool until the taxman comes calling !!
Bollocks
Hiya deady hope you keeping well! May I say how smart you look! Love your lil hat! ;) I only saw WS logistics for the first time on the A12 toady lol I wondered if its you... I've been driving now for 7 months and really enjoy it! Cause of the subject I'm a contracted employee and much more prefer it job security and benefits that you don't get with agencies..
Great video Deady, very informative. Cheers 👍🏻
Great video deady keep it up mate
I honnestly never knew there was such a thing as been a Ltd driver, after watching this video it does make sense though been one
Great insight and both have advantages to different situations. I've already got a small ltd company with 1 buy to lets in so far, so it doesn't make sense to setup another. On top 3 buy to lets in my name meaning the calculations come back if I earn over 27K im gonna get stung on tax by 40%, hence luckily my agency accounts team are allowing me to salary sacrifice a chunk into my work pension at source so im not hitting high tax deductions plus get tax relief . 3-4 days on agency love it, will never go back full time with a company, love the flexibility.
Yup dd how are things thanks for letting people know . Thanks for your
advice and letting people know how to get a job fair play to you.
You know you will get shit from haters that think they know it all but just do what you do
Have a nice one mate
I'm a payee & my flat rate is £12.55 with overtime rate at around £17 per hour, this is driving a van delivering motorbikes for accident claims. I want to do my hgv test to drive lorries, don't want to do 15 hour days though or stay out at night that's for sure. I average around 9,10 & 11 hours most days. 5/ 6 days a week
Thanks for this video, it certainly opens up the options for working and pay systems
Deady please don’t forget agency workers as for the agency worker paye they make you pay them to pay you ... yes 2 years ago it worked out like something like £200 I was paying them so I had to work very quick to become ltd and I can choose to do both paye and ltd which means I pay less tax or get a tax rebate come what April nice chatting
Interesting video buddy .. glad you covered it as I was thinking on going to LTD. however putting it the way you did I may just stay PAYE.
work out the cost of tax and ni add that in to your hourly rate do the same with pension contribution, dont forget if u wash your uniform if the firm your contracted to supply one u can claim for it as a expense
dave smith yes I claim my uniform tax back every year. It’s not much think the last tax claim was £160 but it’s money for nothing!
Liked & shared for the algorithms, my comment is this, keep on keeping on deady.
I've binged watched all your vlogs. Keep up the good work. 👍
Nice one mate
I've been ltd company now for while i can make £1100 weekly very easy and paid no tax on it . . by having 2 days off in the week instead of having weekend off .
can earn £21ph on Sunday . so its a no brainer really . i also like the fact that i can take a week off when ever i want with very short notice .
nerve used a accountant and no one ever asked me for one personally . but yeah your right these too many loop holes for ltd company drivers . you can right off miles .....too and from work
buy new satnav . yep its a right off . these loads you can right off . I'm not going to lie . I'm going to mis it when the ir35 come in
@Wahoo RICE COOKR yeah yet another loop holes is keep the salary low and pay 19% tax . And keep the dividend high and pay as little as 7.5% tax . At the end of the tax year . What ever tax I do pay I can right it off with company expenses
1k a week that’s crazy money fair play to you mate
@@ilovemultipacks yeah I can get that most weeks but I do get slow week . Working within lockdown and people online shopping more then ever . Its been a good year for me personally. I thought I would get but stick for that comment but I cant really say I agree with it . Its like a plumber turning up too your house and asking to borrow your tools to do the job . Never less it is what it is and if I can make more money . Im going to do that .
Be sure to let us know how you file your end of year accounts with HMRC
You shouldn’t announce that on here. I will be conducting an investigation with you now
Thank you
Another down side to being LTD is if your looking for loans/mortgages/finance you will struggle more as company’s want allot more documents from you such as years of bank statements.
Top vlog Deady thank you for explaining all that. I have a question - do you know how much fuel tanker driver earns ? 4, 5 or 6K per month, because so many lies and legends are talked on this topic.
Depends on company you work for.. plenty of smaller firms doing fuel delivery and big firms like shell etc
@HGV driver does it go any higher?
@HGV driver do you drive a fuel tanker?
Another great video love it 👍
This is the first time I need to tell ya that you got it wrong ! The only reason you pay that low NI is cuz you as a paye of you own limited company pulling out something round £789 a month plus offcourse dividents. If you will evee cross that - ea use round £600-700 a week - you should pay same NI as the people on paye - hence the reason of IR35 in first place. Im Limited and I don’t care - the only reason I’ve oppened it its the freedom of pick and choose
I laughed at the speedo joke far more than I'm comfortable with.
Great advice and interesting 👍
I run a business with my wife that is nothing to do with transport, we have been trading for over 20 years and have an accountant. We are listed as a partnership. We are not a limited company so why can't I work as a self employed individual without using a limited company.
There is no legal reason but no agency or company will use sole traders or partnerships. I was sole trader for 10 years and had to become Ltd to get part time driving work
Ltd companies have an additional benefit in that they have limited liability. So if someone tries to sue the ltd company, it can just close. The owner of the ltd company doesn’t pay. His ltd companies insurance might, if he has any. The owner keeps his house etc and avoids losing out. He then opens another ltd company in a different name and escapes the law. Or so it seems.
In regards to sick pay for PAYE employees, do most companies only pay statutory sick pay? Statutory sick pay is not much apparently?
I work in a different industry, but I'm thinking of getting a HGV license. My company pays full pay for sick leave.
For self-employed people, I've seen insurance policies to cover sick leave, so at least you don't need to worry about money if you're sick.
Think I see you Monday, on a1m about 11am I was in Sainsburys lorry I beeped you lol!!
Ever since coming back to driving just over 2 years ago now I've wanted to go LTD, that was the plan to go class 2 and ADR LTD. With this IR35 hanging over my head I've got 2 out of 3 with ltd still not yet done ! So here we are IR35 is out now so how actually has it changed from this video to present with the way you do business!? Any info would be great as I still beleive its the way to go..?
Ps that guy could of been me, as I did exactly that when I seen you coming of Steak Hill Ind Est a while ago now haha seen the name plate an thought No way !!
Very informative, thank you :)
IR35 just shat all over us self employed folk, i wouldn't touch an umberella company EVER and PAYE is just not worth it for the job your doing. Before this LTD was by far superior with a good accountant and if you also know how to do your own books so know where you are aswell because you pretty much kept everything you earned apart from paying your accountant and very small amount of tax but like i said IR35 just ruined it.
When I was self employed, you was talking about not getting paid when you are off work, there is actually insurance out there you can pay each month and if you are ever injured or off sick for a long time they will pay your wages until you are back at work, sure it's liability insurance.
Also another con of being self employed, you have to work at least two years in the same job before you can get s mortgage, where as on PAYE it's 6 months
Could I just ask a question mate, if you did 3 15’s, 1 13 and a 10, that’s a 68 hour week, I thought the max if you choose to opt of out the 48 hours is 60 hours max in a week, how can you do 68, I’ve seen others go over 60, but I was always told it’s a max 60 hours in a week, so I’m a bit confused, could you explain if you can mate, cheers
We don’t actually ‘Work’ all them hours. At least 60 mins per day on break. Then when being loaded, waiting around, maybe stopping for a shower? All comes off working time.
I was sat under a crane in London for over 5 hours yesterday. That was all spent on Break.
Deady 2012 oh right I didn’t know that breaks and that come off working time, learn something new everyday, thanks for the reply mate appreciate it, when you spent 5 hours on break did you have that as a split break day, not sure if this is the right way, so later on you’d have a another break of 7 hours when you’ve finished to make the 12 hours daily rest
Watch out for HMRC 👆
Great video! Q: How hard is it to get into driving class 1s with no experience? Plenty of cat 1 jobs available but the majority state you need a minimum of 2 years cat 1 experience. Would you advise driving class 2 first to get job exp? Although does class 2 exp really contribute to class 1 exp? Any info much appreciated, cheers!
It's recommended to start with class 2... as it will be way easier than if you go straight to class 1
I had the same question in mind. Thanks for answering.
Hi deady
I’ve been watching you for a long time and I have enjoyed every single vlog keep up the hard work !
I’ve just managed to pass my theory test today, I live in Birmingham, what school would you recommend me for my practical session?
Try Top Gear training down Mucklow Hill, Halesowen. I passed my class 1 & 2 there 4 years ago and their brilliant.👍
Matt Y hi mate
I rang them up, they quoted me with over ?1200
I rang other companies as well most of them were around £1100
I’m not sure who to go for , I preferably want to go for a company that will actually teach me probably not scums
Kamal Usman I used them mate and they were decent to be fair. But that was 4 years ago so can’t say what their like now, although I doubt they’ve changed hands etc? I only used them as they were local so if i got any issues I could pop in and see them, but I had no issues whatsoever. Good luck anyhow whoever you decide to use. It’s a great job, long hours, but that’s the industry, but you are your own boss, no manager breathing down your neck, and once you have the experience and get your own cab it’s sweat. I’m tramping tonight, parked up down in Devon overlooking rolling fields just chilling in my cab on a comfy bed, fridge, microwave for hot food & watching Netflix, and getting paid decent money for it👍
Matt I live close to Halesowen too, I just can’t wait to get on the roads as this is something I’ve been dreaming about since I was kid, right now I’m 22. I will go for Halesowen as they look more professional and have good reviews, when I rang them today, they told me we will give quote after they examine my driving then I also asked them how much roughly will be, he quoted £1200
Deady I wouldn't accept £12.50 an hour on PAYE!!
Very intresting video , and thank you for the honesty, and giving a view across the board of the pros and cons, having had my own business and now paye , I would never go back LTD , like you said you do earn more and pay out less, but just having a more concrete employment base and sick pay , holidays paid , is what wins the paye for me, and even hearing how little the stoppages can be when LTD compared to what i pay out still would not persuade me to change and with IR 35 coming it will push the balance back to paye , im sure this video will help new starters in to this indusrty we love make an informed decision , and all wrapped up in a crazy presented 23 minutes and may i say truly love it and yes at times your as mad as a box of froggs but thats what keeps bringing us back to your videos , keep them coming
Yes it’s the security of PAYE as well. Knowing if your suck or on holiday you’ll get paid. I had two sick days last week as I was genuinely poorly although my boss probably didn’t believe me and I just booked my shifts to a sickness overhead, job done, still got paid a full week👍
Matt Y we r very lucky we get 6 month full pay sick pay and then it reduces to 3/4 pay for 3 months then 1/2 pay for 3 months then it’s down to management to pay or not and our holiday pay is an average pay from last 13 weeks so cos we do a fair bit of overtime our holiday pay is brilliant and we also get lieu time for working bank holidays and a day off for Xmas shopping too paid
Being employed with a big firm can give a little more security.... been all three and it’s less bother being employed. Allow others to worry about getting work Oh , and paid holidays are much better than unpaid ones.
Thank you for that information on your video keep up the videos mate you are fantastic but can I just say I am self employed feel my company just tell me when I'm coming in when I'm not coming in but when I have got other work they get grumpy just the joys of being self-employed but to be truthful with you mate the government is locking down on self-employed people especially in the haulage industry
I'm a ltd
T one logistics ( tone)
If you register with tide business account online they pay your registration fee to companies House
How has the situation changed since the IR35 laws? Is it even possible to do LTD legally now, while working through an agency?
By the sounds of it I must be quite lucky as I'm employed and I'm on £12 an hour soon to be going up to £13 and I'm only a class 2 driver on day work
Same here on the £12 ph on class 2 day work (plus bonus and overtime). I looked into class 1, but a lot of work was on less an hour and nights out! I’d say we may be in the minority of class 2 drivers that work for decent paying companies 👍🏻
Day work does generally seem to pay around the same. If you got paid the same as the long distance guys, you wouldn't earn any money so you wouldn't do it.
Ltd driving should be scrapped as your not running a business your just driving someone elses business.and its making conditions for paye employees worse.
The problem is everyone does it lol. Pierce Morgan is LTD. He works for ITV. Lorraine is LTD. She works for ITV. Holly Willoughby is... get my drift? Jimmy Carr is, he works for Channel 4. We are small fish, in the sea.
We have no effect on PAYE employees in any way shape or form.
@@Deady2012love this response
I carnt wait for the videos next week love the tramping haha
I don't understand the hours that you said you worked, 3 x15's, 1x13 and a 10 , = 68 hours I thought it is a maximum of 56 hours in a week ?
i go 4 paye hello greetings from norfolk and when ltd you must pay 4 your national insurance i think
Just seen myself in the background in the FLX truck haha. I thought it was you when I went past.
I have to pay £776 a month on child support and iv wanted to go ltd for a long time because she's refusing me let my see my children. And £776 is just breaking me I'm almost working all month free of charge by time iv paid all the bills. But the company I work for have said they can't take me on as ltd if I do it and I really like the firm I'm working for . They say it's because it's hassle for them and there accountant won't like it or something
And what!!!
Authenticity is the word you were looking for. Cheers for another great vlog.
This is a subject I'm really interested in at the moment, because I'm considering using a LTD company with two trading names so that I can work as a driver during the week and (since I live rent free in the boyfriends payed off house) feed the money I don't need straight away into investing in property and buy to rent. It seems like the best way to save on taxes at the moment.
Don’t know if this is still possible, but open 12 ltd companies. Each month, the profit gets paid to the next ltd company therefore never making a profit and never paying tax! I’m sure TC Harrison car people did this 😂. When they had too much cash, they bought ‘assets’ like vintage supercars and private number plates... 🤯
I suspect that the changes are to get rid of bogus self employment. You could well be one of those. There you are wearing WS clothing, driving a WS liveried vehicle, acting under their direction, buying fuel using their fuel card. A recognised test for bogus self employment is "its Wednesday mornng and I need to be somewhere else, can I send somebody else in my place?.
But i’m not doing WS work. I’m being sub contracted out to do other work for other companies & i don’t get paid off WS. May seem like a whole load of ‘Bogus’ but it depends which angle you are looking at. Yes i wear WS uniform (by choice) and i drive WS trucks which are leased to me for the week.
And as for the ‘Substitute’ you are referencing, yes i can put another driver in my place to do my work if i so wish. I have a contacts list the length of my arm.
@@Deady2012 Your set up is likely correct otherwise you could have HMRC over you like a rash. I'm aware of some agencies pushing low paid (minimum wage) workers to become self employed. All that does is put all the employers (agency) costs such as employers NI & pension contributions unto a lowly paid worker and that just isn't right.
Anyone called Eamon be wary of. Thick that's pretty standard fair don't you think Eamon?
@@richardkillin1856 WTF trolling on a youtube video that is 9 months old. Its a not a good look.
@@eamondevlin1860 I'll have a word!!
hi there im going to uk from portugal to work on that industry i would like your opinion
do you thing that its good to go to the uk or not worth it?
Didn’t realise you were self employed at WS mate, fair play, didn’t realise they offered that option.
Some accountant will figure out a way around ir35 like they always do 😂
I think the government has all bases covered tbf. Would be interesting though lol.
been reading comments about EARNINGS, I see alot of negative comments about pay etc dunno if theyre old drivers complaing or what, anyone here want to shed some light on CLass 2 avg earning in London
You replied to a previous comment of mine, Saying you spent 5 hours under a crane being loaded so you put it on break, could I just ask, when you spent 5 hours on break did you have that as a split break day, not sure if this is the right way, so later on you’d have a another break of 7 hours when you’ve finished to make the 12 hours daily rest, cheers mate
No mate, a split break is anything over 3 hours on break un-interupted. Then you can have 9 off. It basically gives you a free 15 hour day.
Hi Deady, what's your knowledge on owning a truck and working as an owner operator? Just curious because I watch a few U.S truckers who are owners. Just interested how different trucking is between here and there.👍
Try trucknetuk.com for general information. As far as I know you would have to apply for Operator licence and pass very difficult test. The courses are happening few times annually. On top of that u would require to have commercial insurance and another stuff. I wouldn't bother unless u have pile of cash to burn and few decent contracts already secured.
Well done mate we cant all be perfect.
Shouldn't be wearing a WS uniform then if your not employed by them.
Very interesting video hope you are well take care Trev from Blackburn
IR35 will probably be put back another year, just like the did this year. So when they change it, will it be like sole trader. Pay your tax and national insurance all year and get a tax return every April?
I have no idea mate.
Earned a sub from me for the speedo gag!
have a great next wk
Interesting video. Do you know many drivers who are limited?
95% of Agency drivers are LTD. Big problems for Agencies when IR35 comes out.
Great info, mate. Very authentil.. authento... auther.. real 🤣🤣🤣
Is it really worth the effort and stress plus the O licence can be a headache with so much more opportunity out there specially online this industry is going down hill very fast its way to much stuff to go through part of the O licence you need to put a ad in the papers saying where your going to park at night basically you asking the locals if its okay to park up a truck in a yard am not sure if its even worth the hassle.
The industry is way over Regulator its putting more and more people off from starting which means less Competition for the bigger Companies it wouldn't Surprise me if it all gose government own but the way the uk government is they can't get a Prime Minister without crashing the economic.
Good video mate,can we have some better merchandise please mate,have a look at tom Pemberton he does good stuff 👍
Great mate!!!!
sounds like the easy way round it is you work for a mates company and he works for yours that way you stay the same .... maybe...
I’m paye and I take home £703 pw
What's your gross income and how many hours and days a week do you do?
703£ pw for having no life is cheap price.
@@spiderman01980 gross for that would be about a grand approx
One would presume that you would charge them an hourly rate plus vat @20% or is the vat included in your weekly wage
Im not VAT registered. So i don't
@@Deady2012 good luck mate keep the videos coming , could you please explain when you get the chance the workings of a tachograph. How long to you keep them for and why thanks
LTD Via the agencies and most companies will be coming to a end once IR35 comes into play even though its been going since year 2000
It's so shit, I'm ltd company, and loving it. It's better money and that's what I'm working for to better myself. Now it's most likely coming to a end. Absolutely shit
I'm more shocked at what at PAYE tramper earns (roughly)... I work for a plant hire company and the lads driving the sweepers on days shift earn that and are home by 4pm.. I driver a bowser and work 6-2 and I'm in that region too... Is class one money really the same a class 2!?
Depends on company. type of work, area, size of company etc etc.
I was thinking the same i earn that for 5 10hr shifts but i do do nights and work for a large company
Great video
Sick pay is a myth. Most places I have worked, only just give ssp.
Ltd expenses are tax free
68 hrs about £14.30 ph not great wages with being out 4 nights
also i read that its a myth that there aint enough drivers? is it true the industry oversaturated
Look at the jobs advertised bud.. plenty to go around
It's actually a certificate of incorporation
Just seen you in birsko metals looks like a fun load 👍
You the lad i spoke to on the Gate?? Was good speaking to you pal.
@@Deady2012 nah buddy I came in just as you where finishing strapping up I flashed but you where busy was about to come over and say hi then you pulled up to the gate and they started loading me so I left it sure I'll get the chance to say hi some other time
Ohh Sorry mate. Didn’t realise! Next time bud 💪🏻
Give or take what you paying corporation tax , ball park ?
bodcasious vlog sir
Deady you employed by People Providers?
What's the crack now bud . Are you ltd or paye
So you dont Actually work for WS???
No. He works for his LTD company who sub Deady out to W.S.
Thank you!
Authentication?
I wont to be a Eddie STOBART
Scania Volvo
I saw your the motorway
Top vid
Thanks mate
Is that average 700-750 for 5 days tramping payee, after tax or before??
Ron Lilwood after tax buddy
After tax. The lowest I ever take home after tax is £680.
That’s very good. I’m a van driver atm on minimum wage.. done my class 2 and doing my class 1 soon. What’s the money like in class 1 day shift work?
@@ronlilwood733 would say around 18 an hour upwards