I currently work as a engineer/H&S advisor for a power generation company under the leadership of the H&S manager for the company. 

I have recently gained my Diploma and a friend of mine who owns a small power generation maintenance company has recently employed a total of 5 people. This friend undertsands his legal responsibilities and is now looking for a "freelance" individual that can assist him with his H&S responsibilities. He asked me as I have been in the industry for a number of years and have the qualifications if I could assist. He wants to pay me as well for my time. I initially said not to worry I will do it for free and it will count towards my own experience etc. He inisted that he wants to pay me something, he doesn't want it for free (Nice guy I know ) Anyway I said let me get back to you. I plan on setting out a basic H&S policy for him and assisting him with what responsibilities he has for R.A.M.S and the releveavnt legislation and guidance on that which applies to this business, just to note the works they do are varied from engine rebuilds to repairs using a number of tools and they are working on power stations ( Gas fuelled) So there are plenty risks. He does also understand that proespective clients like to see contractors have their H&S game in order when employing services from companies such as his. 

1.) Any consultans here? What do you chargeand how do you structure what you provide? So I assume some kind of H&S folder and a sit down meeting with the client and explain in brief what they are expected to do to meet thier duties?

2.) The nature of this workwould mean a lot of coaching like "You must do this and heres why" and I would expect many phonecalls questioning certain things in the begining. Also each job would require risk assessments from their clients (Friends companies clients ) for work that the do on site. I would be called in to do this I suspect. 

3.) Do consultants charge a retention fee? I hope thats the right word. So a fixed fee per month for advice? I suppose you would.

4.) If I do decide to do this, would I need to register with OSHCR and become a consultant and get professional indemnity insurance?

OSHCR is not a legal requirement and not worth the registration fee particularly if you are only working with a single client.

Professional Indemnity Insurance - absolute must

Ltd company registration - absolute must otherwise your home and possessions could be at risk

Separate bank account for business purposes to keep the financial records straight

An accountant or professional advice for your Tax etc.

Permission from your current employer (a lot of contracts exclude working for others especially compeitors)

PL insurance is to protect you and your possessions/property. The only bearing it will have on your work is income. A lot of insureres will base your premium on the work you conduct with the risks involved if you get it wrong and your turnover or predicted turnover.

I'm a consultant. I do charge a retainer to some clients but not all. If I have regular work from them then no retainer. The odd client I have where work is infrequent then a retainer is chargedbut the first days work that month, I deduct the cost of the retainer.

For example  retainer a month could be £50, normal day rate is £400.  so if no work in Jan then I receive £50, the first day of work that month would be £350, every day after that is £400. It encourages clients to make the most of their money.

Same advice for Ltd company, it protects you. You can reister your company for less than £50 with companys house. All you need is a unique name not used by another Ltd company. But it can strangely be the same as a sole trader. Which I find really strange.

IIRC, to be a Ltd company you have to have an accountant? I'm sure others will confirm or deny. Choose your accountant carefully. Find 1 that deals with traders like yourself. They will save you a bucket load of money. For example, this year on a £50K turnover my accountants bill was quite small and yet still bigger than my tax bill. Mine is worth every penny I pay him.