Reply to: Newbie Questions

[Xenophon]

nothing will top Test Please Delete as long as there are boobies in the world.....

Seconded.

[XLMonkey]

nothing will top Test Please Delete as long as there are boobies in the world.....

[expat]

Well all of this could be solved if we had a number of stickies that newbies could read before posting the same old questions that we all see on a weekly basis.

Good point I suppose. Yes, there is a First-Timer's Guid, but if the Youth Of Today will not go and read it, but will look at BBs, then sticking it at the top might just work.

If it isn't continually topped by Test Please Delete

[expat]

I think Malvolio is doing newbies a favour:

- pointing out that there are other places to find this information (importantly, if you read the FAQ'n'manual you'll probably find answers to questions you didn't know you needed to ask, as well as those you thought of)
- emphasising that knowing this stuff is not optional
- welcoming you to the world of having to do it for yourself
- giving an experienced critique of your relationship with your accountant
- and doing it again and again (does nobody read the first-timer's guide before posting questions?) and for free.

Bravo!

[OrangeHopper]

"Never ceases to amaze me how many people want to go freelance without understanding even the basics of how companies work."

Obviously came naturally to you then mal!

Would have been nice if there had been a public internet when I started out let alone a web site specifically for IT contractors.

Ignorant questions should be asked because research rarely provides 100% confidence in the subject matter. Any information provided by people on here can clarify and educate.

FaxFan, your accountant is your best source. SJD is extremely unlikely to be a bad choice and it's within their interests to help starters. The more experienced of us still need to ask them the odd question.

Good luck.

[zeal]

Another angle...

Well not that I'm one to challenge the status quo when I don't really know all that much myself but there are some points that anyone with experience SHOULDN'T forget when newbies are asking questions...

1. There is so much information available that even after several weeks of researching and reading forums, new sources of information are continually appearing, how the hell do you know whats better than the other and well frankly I'm not really sure that I'm any better off or less confused about everything after reading it!

2. Theory vs. experience...this is the whole grad thing right. So, you have all the theory but then in the real world nothing really counts as much as experience. How often is the theory a load of tulipe when in real situations. This comes down to the fact that nothing in business is in a perfect state so the theory has to be manipulated to fit the bill. So, excuse us newbies for asking stupid questions but hell!

3. Lastly, I would rather get the information from the source, upfront and current. This would leave me to get on with the business of securing contracts and running my own business. But then I guess that what you pay professionals to do eh.

Anyway, big ups to everyone that contributes, there is a huge amount of great advice and knowledge and just general humor.

[Harrysp]

Well all of this could be solved if we had a number of stickies that newbies could read before posting the same old questions that we all see on a weekly basis.

Failing that how complex is it to use the search option?

[planetit]

No - nor do I have to listen to your childish ravings either.

In which case, calm down, relax and ignore the guy. He’ll find the answers soon enough. Or someone else will step up to answer. You’re not the first self styled contractor guru to inhabit these boards, and you won’t be the last.

Incidentally there is nothing new in my advice, you will see it being given to thousands of excitable people like you on message boards across the world.

[Mustang]

Faxfan, I have to agree with Malvolio on this one. The contracting world is a harsh one and there is more to it than just "doing a job" - you are running a company. This is something that a lot of people seem to underestimate. In my first year I have had several challanges to contend with - including taking a company to court - and it has really opened my eyes. There is a lot out there to take in and sort out.

Some tips for you:-

* Register with Business link to attend some of their free seminars. Contact details on the web or in the phone book

* Talk to HMRC. They also offer free half day seminars and they are well worth it. They will cover all the basics so that you can post more informed questions on here.

* Talk to you accountant.

Hope that helps and Good Luck!

[malvolio]

If you’re so pissed off with answering these trivial questions, and think its waste of your valuable time. Then why do you bother?

Nobody forces you to post here do they?

No - nor do I have to listen to your childish ravings either. But that is not the point.

Faxfan is the latest innocent in a long line of people asking questions to which they really should have the answers before they start trying to be a contractor. If I can stop them making mistakes, make them think a little more about what they are getting into and generally do something to try and make the average contractor look a little more professional then I will do so. Call it my penance for having to read some of the supposedly informed drivel we get around here.

It's well known I don't suffer fools gladly, although at least I do suffer them. What really pisses me off is people complaining that they don't like the advice given - if they can't cope with my flavour of direct, they really shouldn't be a contractor. They'll get a lot worse from their permie line management.

[tim123]

This is the basic stuff that the accountant should have explained to you.

If you are having to ask it here either,

a) you are a numpty for not asking your accountants to explain.
b) your selected accountants are no good at their job.

There is a serious point here. You should have a good rapport with your accountant, you shouldn't be afraid to ask a question of them to avoid looking stupid, he is the expert, you are not. If you don't feel that you can approach your accountant with simple questions you may find that being in business is not for you.

tim

[planetit]

If you’re so pissed off with answering these trivial questions, and think its waste of your valuable time. Then why do you bother?

Nobody forces you to post here do they?

[malvolio]

Sorry, I thought this was part of my research. I now know where to come for friendly advice.

So it is. But you're asking questions that are answered in the material I quoted and elsewhere on these fora. So the assumption from grumpy old cynics like me is that you haven't done any research. Usually that proves to be the case!

Also, a point to remember is that usually we charge lots of money for our time and you get it here for free. The advice may be abrupt but it is accurate and useful. Friendly comes extra...

[planetit]

However I'm a little unclear on how the invoicing and SJD's interaction with my business account with work?

You control the bank account. SJD work for you. They will give you an excel spreadsheet (you can actually download it from their site even if you’re not a customer). Into this you enter the invoices you raise (how often you invoice depends on your client/agent), company expenses, and payments received. Reconcile it with your bank statement at the end of each month.

Assuming you are outside IR35, SJD will agree a salary with you. They send you payslips each quarter telling you how much to pay yourself and how much the tax man. Every 3 month you email them the spreadsheet. They will help you with the VAT calculations and dividends if you need it. At the end of your financial year you send them the spreadsheet and copies of your bank statements and they prepare the accounts and tell you how much tax to pay and when.

Not thay complicated really.

[faxfan]

Sorry, I thought this was part of my research. I now know where to come for friendly advice.