New PLI policy Bectu

[jbaileypro]

I have had a search through the site and haven't seen anyone talking about Bectu's new policy this year? I have read through the booklets they have sent me (as I am just finishing college) and nothing seems to jump out at me as being an issue. I will be working as a freelance sound engineer working with a few small hire companies and only using their equipment. I won't be using anything like pyrotechnics but may be doing some light rigging work (under supervision, the usual hanging lanterns/speaker flying frames etc but nothing massive).

 

Have they sorted some of the issues that they have had in the past?

 

I am currently with DJ Guard with PLI at £5 Million.

 

 

 

On a different note. Does anyone have any suggestions regarding finding help with setting up as a freelance worker in the industry. Getting everything in line with people like HMRC is seeming to be a daunting experience with all the horror stories I have heard.

 

Thanks,

[TeeJay]

Hi,

 

to answer your first question - the BECTU cover is much improved from last year

 

The highlights:

BECTU PLI cover is now with Hencilla Canworth, costs £21 a year, covers for £10 million and has a control of custody cover of £25000 per member per claim (with a £100000 total claim per member per policy period)

 

And all the details here (you do not need to be a member to look ...)

http://www.bectu.org.uk/benefits-services/pli for more info

[d_korman]

Regarding your second question, if you are working freelance as a "sole trader" rather than setting up a Limited Company, then from HMRC point of view it should just be a matter of registering as self employed (you can do it on-line) and paying the flat rate NI contributions. You then have to submit a self assessment tax return each year (also on-line), whereupon they will send you a tax bill!

 

HMRC Self Emplyed

 

Register as Self Emplyed

[Junior8]

Registering as self-employed could not be simpler and the on-line tax return is a breeze providing you've kept decent records. just keep to their timetable and deadlines and if possible make your trading year the same as the tax year. I'd only add the advice to see if there are any day courses on book-keeping etc mounted by your local businesslink, these can be very useful and the one on taxation I did ten years ago was well worthwhile. What horror stories have you heard? The only time you wold have problems is through missing filing deadlines or giving them cause to investigate whether you are indeed self-employed according to their definition.

[Yorkie]

I set up as self employed about two years ago. I keep spreadsheets of expenses and income, and pdf copies of every invoice I send. (backed up every month) Also folders of all my receipts every year. I spent two or three days reading through the government businesslink website when I started, my only issue that I found is that I needed to categorise my expenditure differently, ie buying a pair of pliers at £40 and a drill at £300 can't just go in a 'tools' category (one a written off purchase and the other an investment basically). Doing a tax return isn't that scary, it will take just a couple of hours to sort out if your books are properly in order.

[Shez]

I'm both employed (by several different employers) and self employed. Even with all the paperwork that involves, filling in the tax return online isn't difficult. The only "horror" stories I've heard have been about trying to phone the HMRC - ringing at peak hours around the various deadline dates is inevitably difficult. As long as you don't leave things to the last minute (you get ~9 months between the end of the tax year and the deadline for submitting your return online, so there really isn't any excuse for not having things in order by then) you should be fine.