Self employed

[seph234]

Im glad this has been posted. I also run a limited company, I have been on the Gov website and come out of it feeling even more confused. Fingers crossed for tomorrows announcement. 

[Mice!]

Martin Lewis special on ITV tonight at 8:30

It's all about self employed I think, just saying now that it won't be perfect but it will be something. 

[Lloyd90]

On now, same as workers, 80% of taxable profit, upto £2,500 a month. 

 

Allowed to claim it, and to carry on trading. 

[Scully]

1 hour ago, Lloyd90 said:

On now, same as workers, 80% of taxable profit, upto £2,500 a month. 

 

Allowed to claim it, and to carry on trading. 

Really? Where did you hear the part regarding ‘ carry on trading’? 

[Lloyd90]

29 minutes ago, Scully said:

Really? Where did you hear the part regarding ‘ carry on trading’? 

I heard him say it out loud on the announcement 👍🏻 
 

Although I would assume it means carry on trading if you don’t break the isolation protocols 🤷‍♂️

[oldypigeonpopper]

hello, it said will not be up and running until early june as will take some time to get the payments sorted, maybe Davyo will know more and post

[AVB]

I couldn’t make head nor tail of it to be honest. I don’t think it applies to me anyway. 

[Scully]

2 minutes ago, oldypigeonpopper said:

hello, it said will not be up and running until early june as will take some time to get the payments sorted, maybe Davyo will know more and post

Have just received an email from my accountant. Each eligible person will be contacted by HMRC and given further details, based on each individuals tax return from 2016/17, 2017/18 and 2018/19. 

[Newbie to this]

Martin Lewis has just put this up on his Facebook page 

[Essex Keeper]

You can still work 😖😖😖😖

[oldypigeonpopper]

Just now, Scully said:

Have just received an email from my accountant. Each eligible person will be contacted by HMRC and given further details, based on each individuals tax return from 2016/17, 2017/18 and 2018/19. 

hello, cheers Scully, yes i did presume that,

[Scully]

8 minutes ago, Lloyd90 said:

I heard him say it out loud on the announcement 👍🏻 
 

Although I would assume it means carry on trading if you don’t break the isolation protocols 🤷‍♂️

I heard him too, but I don’t think he meant people should carry on working whilst being paid to stay at home. I would say ‘essential’ work would apply to those who need to access people’s homes to fix plumbing or electrics in cases of making safe etc, although as all the trade centres and suppliers have closed around here, ( although B&Q may still be open ?) I’m not sure how that will work. 
I intend to finish the work I’m on with by the end of next week, and then I’ll be calling it a day. 

[CharlieT]

Link to HMRC on the subject.............https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

[Scully]

Scrub my last post! I can only assume the  Martin Lewis statement ‘you can keep working’ means that if you do, the amount you earn will be taken into account when HMRC dish out money? 
I’m gonna have to check exactly which DIY and hardware stores are open locally, as some are obviously getting supplies and materials from somewhere! 
I have a vacant property I could do with getting done ASAP if I can get materials. 
It all depends how much hassle I get I suppose; only this morning two dog walkers were wagging their fingers; it would be so much easier if EVERYTHING closed, then I wouldn’t be in such a quandary. 
Pain in the aris! 
 

[millrace]

What needs to be realized is that he also signaled the end of self employment....along lines of if you want to be treated like employees be prepared to pay back like employees,,,,your 3mths is basically a bribe against the future....I've said all along...."be carefull what you wish for".........and remember for the rest of our lifetimes we will pay these grants back many times over in higher tax!!.....

[Yellow Bear]

7 minutes ago, millrace said:

and remember for the rest of our lifetimes we will pay these grants back many times over in higher tax!!.

All of us , whether or not we get grants etc, will be doing this.

[millrace]

Just now, Yellow Bear said:

All of us , whether or not we get grants etc, will be doing this.

Oh I know,,I'm getting nothing  but I will be expected to pay same as those who do benefit.....

[Scully]

38 minutes ago, millrace said:

What needs to be realized is that he also signaled the end of self employment....along lines of if you want to be treated like employees be prepared to pay back like employees,,,,your 3mths is basically a bribe against the future....I've said all along...."be carefull what you wish for".........and remember for the rest of our lifetimes we will pay these grants back many times over in higher tax!!.....

Not really sure I'm following this......what is the difference between paying tax as an employee and paying tax as self employed? 

[TIGHTCHOKE]

2 minutes ago, Scully said:

Not really sure I'm following this......what is the difference between paying tax as an employee and paying tax as self employed? 

The amount you pay I would assume.

Edited March 26, 2020 by TIGHTCHOKE

[Scully]

16 minutes ago, TIGHTCHOKE said:

The amount you pay I would assume.

So what's the difference? 

[Jim Neal]

Official info now online:

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

[The Heron]

The self employed don't make me laugh I know a lot of them every time you see them it's cash £50 notes not cards pubs I asked one if he took cards (are you joking I was told) in the garage in the family car fill it up can I have a vat receipt on the news tonight there were people saying that they were living week to week if you are that bad at business then work for somebody also there was a couple he was a painter and decorator and she was a mobile hair dresser with a fantastic house. 

I look forward to the replys from all you honest self employed the fact is that you have had it very good for a very very long time and now according to the chancellor it's time to pay up 

[Fisheruk]

If you are self employed nd running a trade premises you are probably entitled to the 10k from the LA.

[Scully]

7 minutes ago, The Heron said:

The self employed don't make me laugh I know a lot of them every time you see them it's cash £50 notes not cards pubs I asked one if he took cards (are you joking I was told) in the garage in the family car fill it up can I have a vat receipt on the news tonight there were people saying that they were living week to week if you are that bad at business then work for somebody also there was a couple he was a painter and decorator and she was a mobile hair dresser with a fantastic house. 

I look forward to the replys from all you honest self employed the fact is that you have had it very good for a very very long time and now according to the chancellor it's time to pay up 

That’s a bit of a ramble! There’s nothing like a sweeping generalisation is there? 🙂

My work vehicle is diesel, my partners vehicle is petrol. In case you didn’t know, it states what type of fuel you bought on your receipt. I’m not VAT registered. 
Id be very interested in hearing from you why ‘according to the chancellor’ my time is up? 
Punctuation would help. 👍

[Mice!]

58 minutes ago, The Heron said:

there was a couple he was a painter and decorator and she was a mobile hair dresser with a fantastic house. 

O you have made me laugh. The couple you mentioned have probably worked for someone else most of their lives then gone it alone for the flexibility and to make more money, but why aren't they allowed a nice house?

I'm sure there are some living week to week, they might have had no choice but to work this way?

Personally I only started contracting again in 2019 so I'll get squat if I'm not working. I'm not bothered it was my choice but I am glad there is help being given, although it will be tough for many waiting till June for the payment.