have a word with the wife 299 Posted March 22, 2020 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. Share this post Link to post Share on other sites
trade vet 701 Posted March 22, 2020 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. Share this post Link to post Share on other sites
New year revolutions...... 197 Posted March 22, 2020 As it stands I can claim £92 a week and are awaiting business rate help I really hope any help is HMRC's driven because this way the cash cowboys of yesterday are screwed Share this post Link to post Share on other sites
have a word with the wife 299 Posted March 23, 2020 sky news = The UK was expected to bolster its package of financial help for workers announced on Friday by revealing aid for the country's five million self-employed. Share this post Link to post Share on other sites
Stephen 21 Posted March 25, 2020 https://publications.parliament.uk/pa/bills/cbill/58-01/0122/amend/coronavirus_daily_cwh_0320rev.14-18.html?fbclid=IwAR1JmdjMDrnOOfq3xOFi1cAozn8iiHG9ZqvM2VYSfe7s11_ZCkdU34BpvBk Share this post Link to post Share on other sites
Screenman 47 Posted March 25, 2020 7 hours ago, Stephen said: https://publications.parliament.uk/pa/bills/cbill/58-01/0122/amend/coronavirus_daily_cwh_0320rev.14-18.html?fbclid=IwAR1JmdjMDrnOOfq3xOFi1cAozn8iiHG9ZqvM2VYSfe7s11_ZCkdU34BpvBk 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. Share this post Link to post Share on other sites
New year revolutions...... 197 Posted March 25, 2020 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 2 Share this post Link to post Share on other sites
Barclaywoodmotorco 4 Posted March 25, 2020 thank you for the helpful advise Share this post Link to post Share on other sites
Boycie 30 Posted March 25, 2020 10 hours ago, Stephen said: https://publications.parliament.uk/pa/bills/cbill/58-01/0122/amend/coronavirus_daily_cwh_0320rev.14-18.html?fbclid=IwAR1JmdjMDrnOOfq3xOFi1cAozn8iiHG9ZqvM2VYSfe7s11_ZCkdU34BpvBk 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. Share this post Link to post Share on other sites
metcars 397 Posted March 25, 2020 (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 March 25, 2020 by metcars Share this post Link to post Share on other sites
New year revolutions...... 197 Posted March 25, 2020 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 Share this post Link to post Share on other sites
CCC 31 Posted March 25, 2020 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. 1 Share this post Link to post Share on other sites
trade vet 701 Posted March 26, 2020 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. Share this post Link to post Share on other sites
justina3 518 Posted March 26, 2020 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. Share this post Link to post Share on other sites
metcars 397 Posted March 26, 2020 (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 March 26, 2020 by metcars Share this post Link to post Share on other sites
have a word with the wife 299 Posted March 26, 2020 (edited) overall quite pleased with the outcome the worrying bit = This may be extended if needed. Edited March 26, 2020 by have a word with the wife Share this post Link to post Share on other sites
beenaroundtheblock 21 Posted March 27, 2020 We are all going to pay through the nose afterwards for this anyway. 1 Share this post Link to post Share on other sites
BHM 994 Posted March 27, 2020 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. Share this post Link to post Share on other sites
Huggins 17 Posted March 27, 2020 (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 March 27, 2020 by Huggins Share this post Link to post Share on other sites
Rory RSC 596 Posted March 27, 2020 People need assistance by the end of April not June. This really isn’t right. 1 Share this post Link to post Share on other sites
SouthernTrader 20 Posted March 27, 2020 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? 1 Share this post Link to post Share on other sites
CRW 73 Posted March 27, 2020 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. Share this post Link to post Share on other sites
MSP Motors 39 Posted March 27, 2020 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? Share this post Link to post Share on other sites
justina3 518 Posted March 27, 2020 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. Share this post Link to post Share on other sites
SouthernTrader 20 Posted March 27, 2020 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 Share this post Link to post Share on other sites