Totally agree with this.
a lot of folk see self employed folks as rip off merchants.
In your case of charging £70 an hour
You’ve lost almost £12 in vat
£13 in income tax at the low rate or £23 at high rate
12% national insurance at £7
Leaves you with around £38 then you got to deduct things like fuel, depreciation of tools and equipment, insurances and paying for accountants, lawyers and possibly commercial property costs etc.
You will be lucky you get away with £15-25 profit.
I do consultancy work and so many times I go to client premises and the staff there goes look at him charging a fortune and driving fancy cars, he must be loaded cause he’s ripping us off, half the time I’m barely making £15-20ph for a full days work once you factor in hours of travelling, preparation etc. if you couldn’t tell my background is an accountant so these numbers naturally comes to me.
it’s like folk were saying dealers were a rip-off compared to a back street garage. Wouldn’t say they are a rip off just a different business model. Prime real estate, training, latest state of the art equipment and whatever Audi hq imposes on them. Also got the posh coffee and probably a million pound + worth of cars in showroom sitting there so you can have a nosy. Backstreet garage has small premises and little overheads in comparison. Not saying the backstreet garage won’t do a good job but it’s just a different business model.