Setting up some work on the side - need advice

Jack_Flash

Hi Guys,

I'm an engineer and I was thinking of doing snagging for new houses outside of my own job. If I were to do this would I have to set up as a company or how does it work? Any advice would be great.

mkdon05

You would have to declare the money you recieve from the side work to the revenue by fillin in a form 11. You wouldn't necesarily have to register a company although you would have unlimited liability if something went wrong due to work you carried out.

threebeards

Jack_Flash wrote:

Hi Guys,

I'm an engineer and I was thinking of doing snagging for new houses outside of my own job. If I were to do this would I have to set up as a company or how does it work? Any advice would be great.

Best thing to do is to speak to an accountant. One thing that will be a must if decide to go down this road though is to arrange a decent level of Professional Indemnity Insurance. It protects you plus the fact that you are more likely to get work with it in place rather than not having it.

Jack_Flash

Is Professional Indemnity Insurance expensive?

Jack_Flash

mkdon05 wrote:

You would have to declare the money you recieve from the side work to the revenue by fillin in a form 11. You wouldn't necesarily have to register a company although you would have unlimited liability if something went wrong due to work you carried out.

You say I'd have "unlimited liability"? Did you mean limited liability?