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have a word with the wife

help for the self employed

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Other than business rates help, [ which local authorities are awaiting instruction on ] i have seen no help, it is understood that it will be very difficult to work out, not being paye, but, there are 5 million self employed, wheres the help ?

one thing i have picked up on is germany ? are giving 80% based on the last 3 years stated income to there inland revenue i beleive.

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3 minutes ago, have a word with the wife said:

Other than business rates help, [ which local authorities are awaiting instruction on ] i have seen no help, it is understood that it will be very difficult to work out, not being paye, but, there are 5 million self employed, wheres the help ?

one thing i have picked up on is germany ? are giving 80% based on the last 3 years stated income to there inland revenue i beleive.

Another problem is that a lot of small ltd company owners are paid in dividends rather than be on PAYE.They must be in the same boat as the self employed if they are shut down.They will have to do something.

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7 hours ago, Stephen said:

I saw that on another site and was suprised at the amount of guys worried because they did mainly cash and did not put it through the books. I am sure there is nothing official in that paper yet as I cannot find anything else out there.

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The latest I read was inside information that the govt look at self employed tax records see that you are in a trade unable to work ie car sales and they pay us 80% this is what I expect to keep going

It will be Monday before announced or possibly late Friday night

Dont pass it on

To add all those in the black economy stuffing notes in their pockets are stuffed and good too

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10 hours ago, Stephen said:

I this was a proposal that was put forward by some Lib Dem MPs, who have as much power as I have.

They will be doing something, but got no idea what it will be.

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Posted (edited)

There’s no such thing as free money?All these ‘handouts’ will have to be paid back one way or another? 

“Be careful what you wish for?” 

Edited by metcars

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44 minutes ago, metcars said:

There’s no such thing as free money?All these ‘handouts’ will have to be paid back one way or another? 

“Be careful what you wish for?” 

If you were in a position where all your money was tied up in stock have rents and mortgages to pay,probably also have a small hopefully overdraft and some young kiddies at home you might just just be happy to take the govt handout

Payback or no payback

Jees

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I think the point was that we will pay as a society in some way as money doesn’t get conjured up from nowhere without implications.

lets hope it’s higher taxes, not hyper inflation. 

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So there you have it,help for self employed is availible from June at the earliest to those earning up to £50k and prevented from working.I think that is unfair if you operate in the London area where earning 50 grand is probably the same as 20 grand where I come from.

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Still to early to read all the detail but did I here right that they are going to calculate assistance grant from profits ? What if your making hardly any profits those poor buggers who hardly make anything need more help than anyone. And they have to wait until  June. 

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Posted (edited)

June! Maybe HMRC are hoping there’ll be less of us by then to get the money?

ding, ding, ding! We have a winner!

“The sting in the tail? The chancellor said he can no longer justify, after things get back to normal, that self-employed people pay less tax than the employed. But that is for another day.”

 

 

Edited by metcars

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1 hour ago, beenaroundtheblock said:

We are all going to pay through the nose afterwards for this anyway.

Absolutely BUT it’s a damn sight better than businesses closed, most of the country unemployed and house prices collapsed because 25% of them have been snatched back.

 

10 hours ago, trade vet said:

I think that is unfair if you operate in the London area where earning 50 grand is probably the same as 20 grand where I come from.

I hardly think the alternative would be viewed as fair by those living outside of the London area. Cloth, cut & suit spring to mind.

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Posted (edited)

Am I missing something with this fund? The fund doesn't take into account the overheads for us car dealers. A mobile hairdresser for instance would have virtually no overheads and can wait for this pandemic to pass but those of us with sites or workshops etc have to cover off all our fixed overheads from this grant? Which would leave me just about breaking even on the business (but with a residential mortgage still to pay and a wife and children to feed and provide copious amounts of toilet roll for :)) 

Edited by Huggins

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People need assistance by the end of April not June. 
 

This really isn’t right.

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Also doesn’t apply if you are a director or a Ltd company unfortunately which I guess applies to a lot of us. My hope is we can be trading in 8 weeks again but what will business be like when we go back?

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I am assuming they are referring to a net profit of £50k and not a gross profit of £50k. Wont be much use to many of us if its based on Gross.

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1 hour ago, SouthernTrader said:

Also doesn’t apply if you are a director or a Ltd company unfortunately which I guess applies to a lot of us. My hope is we can be trading in 8 weeks again but what will business be like when we go back?

I haven't seen this confirmed yet?

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13 minutes ago, MSP Motors said:

I haven't seen this confirmed yet?

Neither have i, our accountant has sent over forms for us to fill in regarding how is going to apply for the 80% wage grant, everyone on the payroll as long as they where there on feb seems to be included directors included. 

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https://www.moneysavingexpert.com/news/2020/03/chancellor-announces-help-for-self-employed/
 

Obviously that’s not official government site but that’s the link I’ve seen doing the rounds 

If you're a company director and pay yourself a salary or dividends you won't be covered by this scheme”

My accountant also emailed me confirming as much, they are awaiting clarity if we can furlough ourselves as directors. 
 

Lots of mixed messages. I don’t know for sure either way, just going on the information I’m getting. I’ll wait for further clarity from the accountants

 

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