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have a word with the wife

help for the self employed

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Posted (edited)
21 hours ago, Rory RSC said:

People need assistance by the end of April not June. 
 

This really isn’t right.

Unfortunately the newly found money tree will struggle to bear fruit so quickly. 

I think Trade Vet’s post in another topic about having to struggle on until June at the earliest will be about spot on.

I sincerely hope that the one good that eventually comes out of this is people realise how fragile their finances are, think of a little forward planning & try to live within their means. Fat chance obviously, but it would be nice.

Edited by BHM
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From reading of many different sites my interpretation is single company directors will be eligible to "furlough" however will not be able to carry on with any running of the busiess. No emails, calls, tax returns, nothing related to the business and obviously no sales (not that I'm expecting any). Obviously this isn't official, but that's my interpretation.

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24 minutes ago, MSP Motors said:

From reading of many different sites my interpretation is single company directors will be eligible to "furlough" however will not be able to carry on with any running of the busiess. No emails, calls, tax returns, nothing related to the business and obviously no sales (not that I'm expecting any). Obviously this isn't official, but that's my interpretation.

That is the way our accountant spelt it out to us, He sees loads of fines once this clears up people clearly taking the piss. I left myself employed but enrolled all my staff not with the risk 6 months down the line having HMRC issuing fines willy nilly.

26 minutes ago, BHM said:

Unfortunately the newly found money tree will struggle to bear fruit so quickly. 

I think Trade Vet’s post in another topic about having to struggle on until June at the earliest will be about spot on.

I sincerely hope that the one good that eventually comes out of this is people realise how fragile their finances are, think of a little forward planning & try to live with their means. Fat chance obviously, but it would be nice.

I agree this has been a massive wake up call for the world, as you say the stupid will still be stupid in six months time however i would like to think if i come out of this alive and not died of going insane then i will have a totally different look on life.

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41 minutes ago, SouthernTrader said:

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

 

That's me also , I think maybe if you're a one man band Ltd Co we need to investigate the 'Business interruption grant' , but like most of you I guess I'm waiting for my accountant to clarify

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Posted (edited)

I think it will be the business folding option for me. I'm sure there's a few on here that think they will be selling cars in 2 or 3 weeks and fair play to you. I am not as optimistic as that, and I'm not interested in paying my landlord's bills for the next 3 to 4 months, whilst I have zero income. It is what it is is there's a lot worse in the world right now and me being able to pay my bills. Good luck all.

Edited by MSP Motors
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2 hours 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?

If you are a director on PAYE ,that should be OK.

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21 minutes ago, MSP Motors said:

I think it will be the business folding option for me. I'm sure there's a few on here that think they will be selling cars in 2 or 3 weeks and fair play to you. I am not as optimistic as that, and I'm not interested in paying my landlord's bills for the next 3 to 4 months, whilst I have zero income. It is what it is is there's a lot worse in the world right now and me being able to pay my bills. Good luck all.

You are not obliged to pay your rent.Burger King just announced the same and their leases cannot be forfeited.

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3 minutes ago, trade vet said:

You are not obliged to pay your rent.Burger King just announced the same and their leases cannot be forfeited.

I think burger king got a bit more persuasive powerful than I. I haven't seen anything about you not being obliged to pay your rent. Just they have froze the evictions for 3 months. Unfortunately my landlord loves money too much and although he has a mortgage free industrial estate with less overheads than i, which much net him a couple of million per annum. No green eyed monster in me as you can see!

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9 minutes ago, trade vet said:

You are not obliged to pay your rent.Burger King just announced the same and their leases cannot be forfeited.

So has Primark. Tbh these large companies are ruthless and whether or not they can afford to pay, they won’t. They won’t give a fuck about their landlords’ finances.

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At the end of the day the rent will have to be paid if you intend to carry on

I paid my 3 months last Wednesday

Thinking back I'm glad I did because that means I am in front until the money tree sprinkles me

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This situation is going to cost lots of money either way we all play it , if you pack up , your business has gone . Stay on and take the grants on offer and hope we get through it then the costs are going to rise afterwards are hey not .

The government is going to get its money back , the landlords are going raise Rents and that's a certain .

Car dealers are going to have to make more money per sale to recoup lost monies . 

Only good thing is we might no have so many cash car traders who have never paid tax at all . 

Whatever happens guys and girls its going to be a different world after this crisis .

At present just stay safe , hope you survive the cash flow worry too . 

Cheers to all . 

 

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Posted (edited)
45 minutes ago, trade vet said:

You are not obliged to pay your rent.Burger King just announced the same and their leases cannot be forfeited.

Think if you check your lease, you are obliged to pay ! 

Bill currently going through parliament, will mean no business can be forced out of their premises until at least 30 June 2020, even if they miss payment(s) of rent.

None payment of rent could incur daily interest charges.

any business reading this MUST not withhold there rent until speaking to there landlord !

ps

This is a multi billion dollar company. No excuse not to pay rent. They should have a supply of cash or borrow based on future earnings. Landlords should evict them!

 

Edited by have a word with the wife

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

Think if you check your lease, you are obliged to pay ! 

Bill currently going through parliament, will mean no business can be forced out of their premises until at least 30 June 2020, even if they miss payment(s) of rent.

None payment of rent could incur daily interest charges.

any business reading this MUST not withhold there rent until speaking to there landlord !

ps

This is a multi billion dollar company. No excuse not to pay rent. They should have a supply of cash or borrow based on future earnings. Landlords should evict them!

 

Sorry,I did mean you can defer your rent and the business secretary has stated you cannot be evicted or forfeit your lease between now and June.I don’t think even the deferred rent has to be settled in a lump some.I think Burger King lawyers might know a bit more than us.

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