Working for myself with a van

bugsntinas

not sure where to ask so i thought i'd try here.
if i was to work for myself with a van what would i need to get up and running.i know i need to insure it and have goods in transit insurance along with public liability and hire and reward but is there anything else i have to do like register myself somewhere,get an accountant etc or can i just start once it is insured?

Bigus

bugsntinas wrote: »

not sure where to ask so i thought i'd try here.
if i was to work for myself with a van what would i need to get up and running.i know i need to insure it and have goods in transit insurance along with public liability and hire and reward but is there anything else i have to do like register myself somewhere,get an accountant etc or can i just start once it is insured?

Yes insurance is the only show stopper , taxman works in arrears and he's only delighted if you make money and give him some when due, but no need to worry until you get some income , vat will be and issue if you take in more than 70 k in one year(or whatever the current threshold is )

bugsntinas

Bigus wrote: »

Yes insurance is the only show stopper , taxman works in arrears and he's only delighted if you make money and give him some when due, but no need to worry until you get some income , vat will be and issue if you take in more than 70 k in one year(or whatever the current threshold is )

thanks for the reply.

so if i was to give myself a name as in company name would it have to be registered anywhere?
i'd recon the insurances would come in around the thousand mark.

Bigus

bugsntinas wrote: »

thanks for the reply.

so if i was to give myself a name as in company name would it have to be registered anywhere?
i'd recon the insurances would come in around the thousand mark.

I don't know , but the one thing I'd say is get up and running , and once you are making money everything can be solved , even if you do things wrong at the start.
Like I said the taxman loves to see you making money ,

a lot of irish people seem to think the opposite , ...

make the money first and pay your dues afterwards , if you don't make money , no dues due ,

and in fact losses can be offset against income , not only this year but for years in advance .

Del2005

bugsntinas wrote: »

thanks for the reply.

so if i was to give myself a name as in company name would it have to be registered anywhere?
i'd recon the insurances would come in around the thousand mark.

If you give yourself a company name you'll need to register it and can have limited liabilities if done correctly, it'll cost money to do this. If you trade using your name then the start up costs are zero, but you have unlimited liabilities.

What are you thinking of transporting in the van? Because there's fack all money in deliveriers, unless you work in the office.

Insurance for €1k. Not a chance it'll be nearer €10k

Eggs For Dinner

Insurance is a very broad description. It varies on the use you are putting the vehicle to. If you are talking about courier work, motor, liability and goods in transit insurance could range from €2.5k to €7.5k, depending on experience, NCB and vehicle

stock>

Road tax is another issue, you will need to jump through some hoops to get that sorted.....................

Del2005

stock> wrote: »

Road tax is another issue, you will need to jump through some hoops to get that sorted.....................

Not if their business is commercial. It's the person who doesn't do commercial driving that has trouble getting commercial tax.

vandriver

15 years ago,when insurance was cheap,I was paying 3k for courier van insurance without goods in transit insurance.

akasudonim

Op go see an accountant. They'll advise, and initial consultation fee will likely be waived or very little to secure your business.
You must register for vat if you expect turnover to exceed €37k.
I'm doing this now, my second time seeing up a company, and the accountant is taking care of it all. Lesson learned from the first time where I did everything myself, and wasted so much time and effort figuring out what I had to do. Concentrate on your business and get your accountant to do the other stuff.
Don't jump in and figure it out later. Make a plan. Review it with the accountant. Consider all costs, insurance and van being two of the higher, but there are lots of others.
Your business case, even if it's a single sheet of paper with the realistic revenue/ turnover and costs, is the decider, and if you do go for it, it's a good future reference.
As another poster indicated, there's very little out of the courier business and v strong competition. Hopefully you have a steady prospect.
Good luck with it.

bugsntinas

akasudonim wrote: »

Op go see an accountant. They'll advise, and initial consultation fee will likely be waived or very little to secure your business.
You must register for vat if you expect turnover to exceed €37k.
I'm doing this now, my second time seeing up a company, and the accountant is taking care of it all. Lesson learned from the first time where I did everything myself, and wasted so much time and effort figuring out what I had to do. Concentrate on your business and get your accountant to do the other stuff.
Don't jump in and figure it out later. Make a plan. Review it with the accountant. Consider all costs, insurance and van being two of the higher, but there are lots of others.
Your business case, even if it's a single sheet of paper with the realistic revenue/ turnover and costs, is the decider, and if you do go for it, it's a good future reference.
As another poster indicated, there's very little out of the courier business and v strong competition. Hopefully you have a steady prospect.
Good luck with it.

cheers for that.
rather than courier work i was looking more towards light haulage as i know in the uk it makes a big difference to insurance cost.if ya don't want to say i understand but roughly what does an accountant charge and does it cost alot to register a business here?

SixtaWalthers

Are you going to use it for commercial purpose? If yes, then I would suggest you install some anti-theft devices and elogging systems to have a proper check and balance on everything. I also listened from a few of my friends that the use of anti-theft and better GPS trackers decreases the cost of insurance. I am not sure, but you must check it once.