Site Supporter Biggish Dave Posted March 24, 2020 Site Supporter Share Posted March 24, 2020 4 minutes ago, Smiley said: Means testing? We are a 2-man band. Plan is to try and claim the £10k. And then one of us will furlough and take 80% off govt. 0% credit card on purchases for 18 months. That not better than a loan? Depends whether you are getting cash out on a card, there’s bound to be charges on that. Dont think there will be any means testing - there isn’t the man power to do that. The scale of the roll out is huge. Assuming you are in premises where your rateable value is below £15k, the £10k grant is a gimme, it’s on its way in a few weeks. The help for self employed (bare with me) is coming, looking like 80% of an average net income or around £2900, whichever is lower. Not seen this bit confirmed anywhere but this will surely have to apply to directors too who take small salary and larger dividends. If you’ve declared it as income on your tax return then that should be good enough Quote Link to comment Share on other sites More sharing options...
Site Supporter Alf Hartigan Posted March 24, 2020 Site Supporter Share Posted March 24, 2020 5 hours ago, Traf said: Had no work on the travel front for a few weeks now. Wife's income also gone. Living off savings/credit cards right now. If that happened to me, I'd be homeless within weeks, hope you will be okay. Same goes to everybody who is losing income. Quote Link to comment Share on other sites More sharing options...
Site Supporter fatolive Posted March 24, 2020 Site Supporter Share Posted March 24, 2020 7 hours ago, L/H White said: aldi have released about 6000 jobs, £9.50 an hour lad i know went up at 12pm the other day, they'd started him by 3pm tesco similar i think Seen that, Iceland are advertising the same too. petrol stations should bring back pump attendants, save everybody handling pumps , one person, say how much you want go in and pay contactless and get filled up by someone in gloves who’s the only person to touch that pump handle all day/ shift wouldn’t take much to maintain the 2 m distance and save 100 of different hands touching the pumps daily Quote Link to comment Share on other sites More sharing options...
miamiwhite Posted March 24, 2020 Share Posted March 24, 2020 Won't deny it, after last night's initial announcement, my arse was squeaking more than Alan Ball's throat, due to what has been laid out on upcoming and incomplete contracts. Today went well, praying it continues and the same goes for everyone else on here. Quote Link to comment Share on other sites More sharing options...
deane koontz Posted March 24, 2020 Share Posted March 24, 2020 15 minutes ago, fatolive said: Seen that, Iceland are advertising the same too. petrol stations should bring back pump attendants, save everybody handling pumps , one person, say how much you want go in and pay contactless and get filled up by someone in gloves who’s the only person to touch that pump handle all day/ shift wouldn’t take much to maintain the 2 m distance and save 100 of different hands touching the pumps daily Was just thinking about that earlier. In some places do you still pay a charge if your purchase is under a certain amount? Quote Link to comment Share on other sites More sharing options...
Site Supporter fatolive Posted March 24, 2020 Site Supporter Share Posted March 24, 2020 13 minutes ago, deane koontz said: Was just thinking about that earlier. In some places do you still pay a charge if your purchase is under a certain amount? Think so, but don’t think it’d be an issue with petrol stations . did think the amount on contactless was abolished but there is a limit if a shop wants I think Quote Link to comment Share on other sites More sharing options...
deane koontz Posted March 24, 2020 Share Posted March 24, 2020 28 minutes ago, fatolive said: Think so, but don’t think it’d be an issue with petrol stations . did think the amount on contactless was abolished but there is a limit if a shop wants I think Aye just had a look. Looks like things might be changing if contactless is the way to go in the current situation https://www.theguardian.com/money/2020/mar/24/uk-cash-usage-halves-in-few-days https://www.dailymail.co.uk/news/article-8147107/Limit-contactless-card-payments-rising-30-45-coronavirus-outbreak.html Quote Link to comment Share on other sites More sharing options...
Smiley Posted March 25, 2020 Author Share Posted March 25, 2020 9 hours ago, Biggish Dave said: Depends whether you are getting cash out on a card, there’s bound to be charges on that. Dont think there will be any means testing - there isn’t the man power to do that. The scale of the roll out is huge. Assuming you are in premises where your rateable value is below £15k, the £10k grant is a gimme, it’s on its way in a few weeks. The help for self employed (bare with me) is coming, looking like 80% of an average net income or around £2900, whichever is lower. Not seen this bit confirmed anywhere but this will surely have to apply to directors too who take small salary and larger dividends. If you’ve declared it as income on your tax return then that should be good enough The latter with dividends would be great. Not sure it will happen. Think my accountant estimated around £640 per month for me. But don’t I have to stop work altogether? Furlough. Read that you CANNOT do any work during this time. Is that correct? In which case as a 2-man band we’d have to do it for one but leave the other available. £640 might just cover the remaining business overheads. The £10k would be paramount then just pay a basic wage/dividend to both for 4 months. Approx £1250 each. That would be enough to survive. All depends on what happens with our other halves. If some of this does pan out - could we see folk become eligible for working families tax credit (is that UC now?) plus any other “family” benefits? Quote Link to comment Share on other sites More sharing options...
Site Supporter Biggish Dave Posted March 25, 2020 Site Supporter Share Posted March 25, 2020 11 minutes ago, Smiley said: The latter with dividends would be great. Not sure it will happen. Think my accountant estimated around £640 per month for me. But don’t I have to stop work altogether? Furlough. Read that you CANNOT do any work during this time. Is that correct? In which case as a 2-man band we’d have to do it for one but leave the other available. £640 might just cover the remaining business overheads. The £10k would be paramount then just pay a basic wage/dividend to both for 4 months. Approx £1250 each. That would be enough to survive. All depends on what happens with our other halves. If some of this does pan out - could we see folk become eligible for working families tax credit (is that UC now?) plus any other “family” benefits? This is where the info out there is vague to say the least. A furloughed worker certainly can not carry out any work at all for the company they work for. There is no guidance at all as to whether they could go shelf stacking at a supermarket paying tax at a basic rate or 40% depending on current earnings. I think a whole raft of folk will become eligible for UC in order to top up there income. Ultimately, and it might yet take a couple of weeks to get there, in the long run I do think everyone who has played fair will get supported to a level where they can manage. People who have cheated like mad on tax returns will get their comeuppance. Quote Link to comment Share on other sites More sharing options...
gonzo Posted March 25, 2020 Share Posted March 25, 2020 (edited) I’ve lost probably a third of my income due to losing pubs, hotels and anything else commercial. Hopefully we can carry on, on the domestic and contract stuff. problem for us is cash flow, as commercial money is the most instant so our business runs week to week on that. The rest comes in a lot slower, especially the contract side where post contractors pay when the fuck they want. In terms of death, lack of profit kills you like a cancer, stop the cash flow and it kills you like a heart attack. Hoping we can generate enough cash to keep things going till it’s all over. If we ask for help it won’t be the government, it’ll be the mortgage company or bank. ...edit this isn’t a moaning post by the way, we are fortunate enough to be able to carry on working for now. There’s folk with a hell of a lot worse problems than me. Good luck to all brothers x Edited March 25, 2020 by gonzo Quote Link to comment Share on other sites More sharing options...
Smiley Posted March 25, 2020 Author Share Posted March 25, 2020 Take the govt. money. Because we are all gonna to get taxed to fuck for the rest of our lives to pay for this. You’ll be fucked off you didn’t when that happens. Quote Link to comment Share on other sites More sharing options...
Traf Posted March 25, 2020 Share Posted March 25, 2020 Until there's a definitive plan in place from this government, then it's impossible for any self employed person to make a decision on their own best way forward. I'm a 1-man band, below the VAT threshold. Current incoming money = NIL, Outgoing, I've got franchise fees and commission clawbacks. I work from home anyway, so I'm not even saving money by not having to commute anywhere. Quote Link to comment Share on other sites More sharing options...
Moderators Zico Posted March 25, 2020 Moderators Share Posted March 25, 2020 3 hours ago, Biggish Dave said: I do think everyone who has played fair will get supported to a level where they can manage. People who have cheated like mad on tax returns will get their comeuppance. Which one am I? Quote Link to comment Share on other sites More sharing options...
radcliffe white Posted March 25, 2020 Share Posted March 25, 2020 Martin Lewis on self employed this morning don’t do anything rash there working on it it’s just complicated Quote Link to comment Share on other sites More sharing options...
Site Supporter Biggish Dave Posted March 25, 2020 Site Supporter Share Posted March 25, 2020 50 minutes ago, ZicoKelly said: Which one am I? You've played fair - you'll get looked after one way or another, i'm sure of that Quote Link to comment Share on other sites More sharing options...
Smiley Posted March 25, 2020 Author Share Posted March 25, 2020 7 minutes ago, Biggish Dave said: You've played fair - you'll get looked after one way or another, i'm sure of that Shit accountant!!! Haha Quote Link to comment Share on other sites More sharing options...
tomski Posted March 25, 2020 Share Posted March 25, 2020 Grim reading scenarios on here. I hope each and every person gets sorted. Im in the middle of a 6 month sabbatical from work looking after my newborn (soft arse, skirt, mother etc) Im on SSP till I go back so no real change for me. From what I understand my job is on full pay work from home but I hope by the time I go back This will all be a distant memory. Quote Link to comment Share on other sites More sharing options...
gonzo Posted March 25, 2020 Share Posted March 25, 2020 2 hours ago, Smiley said: Take the govt. money. Because we are all gonna to get taxed to fuck for the rest of our lives to pay for this. You’ll be fucked off you didn’t when that happens. There’s nothing for me to take. I’m a limited company in its first year with minimal PAYE and no history of tax payments or any rates. My and my partner in crime were self employed up until last April. Plus I’m currently still working, just not as much as I was, so don’t have a leg to stand on. Fuck em. Quote Link to comment Share on other sites More sharing options...
Escobarp Posted March 25, 2020 Share Posted March 25, 2020 3 minutes ago, gonzo said: There’s nothing for me to take. I’m a limited company in its first year with minimal PAYE and no history of tax payments or any rates. My and my partner in crime were self employed up until last April. Plus I’m currently still working, just not as much as I was, so don’t have a leg to stand on. Fuck em. I don’t think that will be the case pal. I’m no expert but you will be able to get something I’m pretty sure of that. You won’t be the only one in that position. You can effectively prove what you were earning via tax returns when self employed and should be able to do something based on that. Keep the faith Quote Link to comment Share on other sites More sharing options...
gonzo Posted March 25, 2020 Share Posted March 25, 2020 17 minutes ago, Escobarp said: I don’t think that will be the case pal. I’m no expert but you will be able to get something I’m pretty sure of that. You won’t be the only one in that position. You can effectively prove what you were earning via tax returns when self employed and should be able to do something based on that. Keep the faith Fingers crossed that’s the case 👍🏻👍🏻 Cheers pal Quote Link to comment Share on other sites More sharing options...
Escobarp Posted March 25, 2020 Share Posted March 25, 2020 3 minutes ago, gonzo said: Fingers crossed that’s the case 👍🏻👍🏻 Cheers pal Plenty more qualified than me but if you need any help with any of it give me a shout will see what I can do for you. That goes for everyone as well. Quote Link to comment Share on other sites More sharing options...
Smiley Posted March 25, 2020 Author Share Posted March 25, 2020 1 hour ago, tomski said: Grim reading scenarios on here. I hope each and every person gets sorted. Im in the middle of a 6 month sabbatical from work looking after my newborn (soft arse, skirt, mother etc) Im on SSP till I go back so no real change for me. From what I understand my job is on full pay work from home but I hope by the time I go back This will all be a distant memory. See if they will let you return early. And then put you on furlough. Just a thought. Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted March 25, 2020 Share Posted March 25, 2020 17 hours ago, Biggish Dave said: Depends whether you are getting cash out on a card, there’s bound to be charges on that. Dont think there will be any means testing - there isn’t the man power to do that. The scale of the roll out is huge. Assuming you are in premises where your rateable value is below £15k, the £10k grant is a gimme, it’s on its way in a few weeks. The help for self employed (bare with me) is coming, looking like 80% of an average net income or around £2900, whichever is lower. Not seen this bit confirmed anywhere but this will surely have to apply to directors too who take small salary and larger dividends. If you’ve declared it as income on your tax return then that should be good enough Sounds more than fair if that’s the scheme Fair play to the government, tried to cover as many bases as possible with these bailouts Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted March 25, 2020 Share Posted March 25, 2020 2 hours ago, gonzo said: Fingers crossed that’s the case 👍🏻👍🏻 Cheers pal Aye Assume it will go off your prior year self assessments Will you also be able to get 80% of your PAYE, even if it’s minimal Quote Link to comment Share on other sites More sharing options...
tomski Posted March 25, 2020 Share Posted March 25, 2020 3 hours ago, Smiley said: See if they will let you return early. And then put you on furlough. Just a thought. Ha thought crossed my mind. Also legally I can jump in and out of paternity when suits in the year. I think I like the total break currently but if that changes I suppose I have a plan B. Quote Link to comment Share on other sites More sharing options...
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