Self employed mechanic ?

Question

Basically I'm 20 and I'm a fully qualified mechanic and i work for a independant speialist not naming the brand of car but its a prestige car maker...I have all my certificates and I'm hoping to do my mot course in the coming months.. I live in private rented accommodation with my girlfriend and I'm going to be a dad . The thing is I work 40 + hours a week and only get £225 .. I personally think that some 1 who has been in college for 3 years and then been employed for nearly 4 deserves a wage better than what I'm getting.. Debatable ..my partner is a home cater and not downgrading her or other carers she earns on average £1000 + a month .. Baring in mind she walked into this job it's took me close to 6 years and .. £60 a week .. £100 week ... So on to get where I am .. We're both 20 and we have a car contract phones insurance tax rent council tax ect to pay for which is quite expensive and I'm just sick of working so hard earning the boss a lot of money and in return getting peanuts.. So I think it's time to go self imployed my question is how do I go a about doing it ? Because if I go self imployed I will need trade insurance so I can road test vehicles ect then progressively work up to owning a unit and so on ..

I just want to go legit about everything

How do I make a business name and ltd it ?
Do I need to be vat registered ? Or do I need to be earning a lot of money ?

Any help much appreciated

Answer 1

If you read your own post it does not seem to make sense. You are 20 so cannot have been 3 years in college and employed for nearly 4 years unless you are talking about day release course. Next it cannot have taken you 6 years to get where you are seeing as how you could not leave school until you were 16.



You are already facing the reality that so many car mad lads [including my youngest son] have found, that the teen ager's dream of working with cars means you end up in a low paid job with negligible promotion prospects. Basically from all the trades you could choose to do being a mechanic is one of the worst paid.



You say you are fed up earning the boss a lot of money while you just get peanuts in return. It is not as straight forward as that, your boss has a very large sum of money tied up in his business. I believe is costs around £60,000 just to equip your garage to be an MOT test station.



If you think that you will make big money as a mobile mechanic you are day dreaming. Without your own workshop facilities presumably that is what you are intending. For a start you are limited on just what you can do as a mobile, mostly it would be just basic servicing, brakes etc. Whilst changing a gearbox with the car raised up on a ramp is fairly straight forward doing in lying on your back under axle stands on someones wet drive is something else. You wont have diagnostic equipment, tyre balancer, tracking equipment, head light alignment equipment etc. You dont start out as a Limited company just as a Sole Trader. You dont need to be vat registered on a turnover less than 73k a year which as a mobile you would never reach. Further, as a recently qualified 20 year old you will have limited credibility as a trades person. Hard but fact. You can only do your MOT course while you are working in a garage that is an approved MOT testing station and if you go self employed the only way your ticket could be used would be whilst working ~ part time at least ~ at an authorised testing station who are willing to give you part time work and add you to their register of Authorised Examiners.



You would need both Motor Trade Insurance and 3rd Party Public Liability insurance and {and i might be wrong in this part} i don't think you could get Motor Trade Insurance at your age.



Don't get me wrong, i am not saying setting up on your own is the wrong way to go, but it is the wrong way at this particular time of your life and experience. You need some cash behind you before you start up on your own because it takes time to build up a client base. Also remember that if you c*ck a job up it is you the customer comes back at for recompense, if you have no work you have no money coming in, if you are off sick you have no money coming in, if you take a holiday you have no money coming in. But all the bills keep coming in.

Answer 2

Self Employed Mechanic

Answer 3

I'm sorry, but I don't think you can do this without some cash behind you. To become a self-employed mechanic you would need quite a lot in the way of tools and equipment. If you are going to deal with MOT and other tests then you will need premises, and then your overheads soar.

As far as tax, VAT, NI etc are concerned, you need an Accountant to help you. He will help you through the first year or two, and save you more than his fee. He'll explain the VAT situation - you don't pay it until you reach the VAT threshold. He'll sort out your tax liability, and he'll show you how to keep accurate books. The more paperwork you can do yourself, the lower the Accountants bill. But you can't manage without an Accountant unless you know exactly what you are doing.

Your Accountant will also tell you how to register the company, discuss trading as a Ltd company etc etc.

Answer 4

Start off by looking at the website for Business Link which will give you lots of information about starting your own business.



You don't have to become a ltd company straight away or register for VAT unless your turnover exceeds the current limit values. Check out the HMRC website for information about VAT and do any and all of the free seminars that HMRC hold regularly to explain tax and VAT to new business owners. You have to register as self employed with HMRC and do a self assessment tax return every year.



Contact a good insurance broker for advice on the insurance you will need to be able to test drive cars and public liability in case the work you do causes any accidental damage.



Don't forget that you will need a vehicle to get about in - especially if you are planning to offer a service where you go to people's homes to do the work. Also remember you will need to have all the appropriate tools and equipment and do some marketing to get yourself known.



I think there is a market out there for a mobile car repair service who comes to your home and fixes your car or does general servicing and maintenance on your doorstep. I think older people and people with older cars who can't afford the overheads of using a main dealer would jump at that sort of service.

Answer 5

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Cannot be answered. Since a self employed person earns according to how many jobs they book. A great mechanic that works hard and hustles can make 100k. A lazy one can earn as little as 10k

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