....in the Construction Industry, on a self employed/sub contract basis per week?
Scenario - working with me, taking him to site (my established customer) and generally having a good craic with someone I know (besides the point).
My business = sole trader, no long term guarantee of work for him - but for now, he's happy, I'm happy - it's a seemingly happy ship.
So, there are no issues, I know what he want's, I know what I'm charging him out at and have no complaints - just wondering how it stacks up with peoples expectations. Higher/lower, etc.
Semi-skilled Op btw.
Depends on what trade
Are you an optician?
Haha @ Drac - was waiting for that 😉
Liftman - Highway Electrical - basically connecting street lights, mostly motorway
I suppose it depends how promptly you pay him and how promptly you are paid for his services.
If you are paying him when you get paid, I wouldn't expect to make as much as if you paid him weekly and your invoices eventually get paid three months later.
You also have expenses that he doesn't, insurance, transport, does he use your tools / equipment etc.
I've been in this position myself and settled on what the guys was happy to be paid ( I usually went up by £20 a day over what they said) and charged the competitive market rate for them in a competitive tender situation. I always paid them as soon as I was invoiced by them no matter what the clients terms were. Everyone happy.
£10 to £20 per day seems about right. Be aware of CIS or whatever they call it nowadays, if HMRC get a sniff that you're the only one he invoices for work, they'll assume that he is an employee and make you responsible for deducting 20% and passing it on to them each and every month. And if you don't pay them one month, or are late with your CIS submission, you'll be fined £100. Amount may have changed now, but the principle is the same.
If he doesn't invoice you, then it is effectively your income and therefore taxable, so you could allow for that in what you 'make' by taking 20% of what you pay him and put it away into your account for tax.
You've gotta be looking at £75 - £100 / day If he's not providing a van, insurance, helping to price and invoice jobs, etc.
No idea what your profit on him should be, that would be industry-related and if you're both happy, then so be it.
You should, according to the rules, be paying him under CIS though TAFKAS.