Holiday entitlement at work - help!

when i worked at barnburgh colliery they didnt have holidays at xmas prefering to have doncaster St Ledger race week off in september...

 

probably because he's self employed i would have thought.

 

I work for myself. Most of the time it's brilliant working for yourself but when it comes to the family holiday or Christmas it's a bit of a ****** knowing when you down tools there'll be nothing coming in for a few week.
Key to it is paying yourself a constant wage through year and not getting greedy and excited when your having a busy period and bumping your wages up. It can be very tempting mind you

 

How did that go down?

 

fu@kin terrible for us that transferred from cortonwood,but thats how it was,you got used to it...it was a system they had used for decades.

in my earlier post i put about us having 7 days to use as and when,it wasnt,i think it was 5 days.

 

at cortonwood we had 2 weeks in the summer where one of them was always barnsley feast week

 

How times have changed! Made me chuckle thinking about a load of blokes down pit rubbing there hands at a week off to gamble (those who liked a flutter obviously)

 

There's pro's and con's to each...employment generally means a steady guaranteed wage and time off when you need it. If you do your own thing then it can be a lot more profitable but you have to make some big sacrifices - the main one being you never really have a day off. An important thing to realise when working for yourself is that just because the business has has earnt, say, £2000 one week, it doesn't mean it won't earn £0 the week after. I know a lot of people who had good businesses that got too greedy and were literally putting all the money in their pocket instead of the bank - it ends with them having no business and massive debt. Best thing to do is pay yourself nothing and take a dividend a couple of times a year, that way you pay a lot less tax.

 

20 days is 4 weeks on a 5 day week. 5 including the B/H's.

 

I make that 27 days on basic sums.

 

thats exactly what happened,in the early days they literally had a weeks holidays at donny races.

 

A bet other half's weren't too chuffed with them arrangements

 

you have to be a limited company to start paying dividends to yourself.you cant avoid tax simply by not paying yourself,you are taxed on your profits,simple as that.

 

That's by far the best way, we do a minimal wage each week which is topped up through the year by dividends.

 

thats when men were men and women were where they sould be,at home doing the ironing

 

Ha ha ha

 

Like a Tesco burger?
(Wrong thread)

 

One to watch out for is for self employed (not Ltd co with dividend) it can be up to 22 months after starting trade before any tax is due. So if you spend the dosh, you're screwed as you have a tax liability and a payment on account to find.

But your accountant should have warned you about that.

Not touting for trade... oh no... not me ...ahem...