Self-Employed Plumbers

Earnings for self-employed plumbers dipped by just 1.7 per cent last month, according to the latest figures released by Hudson Contract.

Analysis of August payroll data for more than 2,200 construction companies in England and Wales reveals a weekly average of £1,120 for plumbing contractors.

They generated the third highest earnings of all 17 construction trades covered by Hudson Contract, beaten only by specialists in shop fitting and mechanical and engineering work.

Plumbers in the North West saw the biggest increase in weekly earnings in August, rising 18.2 per cent to £945.

They were followed by the South West, up 12.8 per cent to £1,328 and the highest in England and Wales, and Yorkshire and the Humber, up 6.8 per cent to £727.

A guide to insurance for self-employed tradesmen By Chris Pendrey, SHEQ Manager at Actavo Direct

Going self-employed brings benefits in flexibility, time management and more. However, with the full burden of contract work falling on one person, it’s vital you’ve got the correct insurance to keep you covered if the worst happens.

That’s why Actavo Direct has put together a guide to insurance for self-employed tradesmen.

Going public

Public liability insurance covers you against legal costs or compensation if you’re sued by a member of the public.

Weekly earnings for self-employed plumbing contractors edged down in April, according to the latest figures released by Hudson Contract. Analysis of last month’s payroll data for more than 2,200 construction companies in England and Wales reveals a marginal decrease of 0.5 per cent to an average of £1,117 for plumbers.

The regional breakdown shows a more detailed picture. Plumbers in the South West saw the biggest fall with average weekly earnings down 18.2 per cent to £1,441, followed by those in Wales, who were down 13.1 per cent to £938, and the North West, down 10.1 per cent to £789.

The only regions to record growth were the East of England, where earnings rose 1.4 per cent to £1,349, and Yorkshire and the Humber, up 0.9 per cent to 681.

Is your business due a shake-up? Plumbers should be sure to include some of the following advice for making tax simpler, less time-consuming and easier on your wallet.

1. Ditch the accountant 

In the past, an accountant was crucial to making your funds watertight. But now they’re becoming redundant, or at least overpriced (by and large) for the services they offer. Whereas an accountant would charge, on average, around £250 to complete your Self Assessment tax return, it’s now easy to do this yourself. 

Digital software such as SimpleTax gives you an accurate picture of your income and expenditure, while guiding you on how your Self Assessment should be composed. Cost-wise, these tools start from as little as £25 for an annual subscription.