Unit 48: Being self employed

As a driving instructor it is more than likely that you will be self employed. (Check very carefully with your training company or “placement” company, many people have been misled into thinking they would get a “job” at the end of their training, rather than a franchise.)

As well as having the freedom to work for yourself, you also have the responsibility to ensure that everyone who needs to know about your status does. Her Majesty’s Revenue and Customs (HMRC) will undoubtedly want to know, and you will need to register to pay your own national insurance. Some mortgage companies will expect to be notified, and often insurance for injury and illness may need to be changed. A quick chat with all of these providers would be sensible and the local tax office can be a great source of information about self employment and tax matters.

If you need help setting yourself up, local enterprise partnerships and council-run initiatives can be useful. A quick search of the internet can find a lot of information and may save you a fortune in set up costs. Often advisors will know what works in your area and can put you in touch with other individuals or small companies who may well be able to help.

You need to plan how you want your business to work, whether you are looking for a part time income or a long term professional career. The skills you have gained can be used for this – recap what skills you have, set SMART objectives, with time scales, and list all of the main points you will need to put into place. Once you make a start on this it is simple and it will help you to keep an objective overview of how well you are doing when you might have had a bad day. Regularly go through these objectives and re-evaluate them depending on how well you are doing, or in the light of new circumstances.

Discussion Points:
Inform the relevant authorities
Seek Advice
Business Plan