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"Yeah for some, not all" It's hard to offer a 'one size fits all' deal for self employed as the variants are broad. Let's see what he has to say before we get all doom and gloom! Any help right now would be amazing as our business and personal outgoings are crippling | |||
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"Yeah for some, not all It's hard to offer a 'one size fits all' deal for self employed as the variants are broad. Let's see what he has to say before we get all doom and gloom! Any help right now would be amazing as our business and personal outgoings are crippling " Here Here. The amount of moaning, misinformation & general nonsense being spouted about this before it’s already been announced is getting boring now. Let’s see what help he offers before people start picking at it. | |||
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"Yeah for some, not all It's hard to offer a 'one size fits all' deal for self employed as the variants are broad. Let's see what he has to say before we get all doom and gloom! Any help right now would be amazing as our business and personal outgoings are crippling " You are right ... any help would be welcome, but I do think that there is so much high expectation there is going to be masses who are disappointed with whatever is offered. | |||
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"Yeah for some, not all It's hard to offer a 'one size fits all' deal for self employed as the variants are broad. Let's see what he has to say before we get all doom and gloom! Any help right now would be amazing as our business and personal outgoings are crippling You are right ... any help would be welcome, but I do think that there is so much high expectation there is going to be masses who are disappointed with whatever is offered." Isn't that us Brits all over though? We love to moan...it's our favourite pass time! hahaha I am trying my best to stay positive and hope that we won't be left in the shit, but if we are, I will enjoy having a jolly good moan about it before hitting the gin and thinking about plan Z! xx | |||
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"Yeah for some, not all It's hard to offer a 'one size fits all' deal for self employed as the variants are broad. Let's see what he has to say before we get all doom and gloom! Any help right now would be amazing as our business and personal outgoings are crippling You are right ... any help would be welcome, but I do think that there is so much high expectation there is going to be masses who are disappointed with whatever is offered. Isn't that us Brits all over though? We love to moan...it's our favourite pass time! hahaha I am trying my best to stay positive and hope that we won't be left in the shit, but if we are, I will enjoy having a jolly good moan about it before hitting the gin and thinking about plan Z! xx"  hope it works out . | |||
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"All these self-employed people might be regretting the fact that they only declare a tiny fraction of their real incomes now??" Not everyone is out to screw the tax man, I do my taxes every year and pay what is owed all backed up with invoices | |||
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"He did say at the end that in the future the people who have been helped by this will pay in fairly and the same as others do...I took that as saying, please declare what you are earning in future" | |||
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"Think what's getting up some people us the feeling that self employed sole traders are not as important as businesses that employ. My point I'd make us they are the most vulnerable because most will not have savings of any worth or access to other money except selling equipment or vehicle to gather more funds. It's not hard for the government to offer the same 80% to them too, simply by using the past three years tax returns. Not need to apply and cause extra work for those sitting it out. Let them go into system and use the information they already have. Simplicity isn't the government's strongest point at times." This is what they are doing | |||
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"All these self-employed people might be regretting the fact that they only declare a tiny fraction of their real incomes now?? Not everyone is out to screw the tax man, I do my taxes every year and pay what is owed all backed up with invoices "Same here | |||
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"https://www.bbc.co.uk/news/uk-52053914 If I understand it right, we are being totally bypassed. Self-employed people can apply for a grant of up to 2.5 thousand pounds which will be available in June. I'm not sure how we are supposed to last until then, or why we get a grant instead of any actual help that compares with the employed work force. I'm very frustrated with this situation right now and worried about the future in many ways. I very much hope I misunderstood what I've just read on the BBC website." What would you prefer instead of a grant? Surely money you get monthly that you don't have to pay back is about as good as it gets? | |||
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"https://www.bbc.co.uk/news/uk-52053914 If I understand it right, we are being totally bypassed. Self-employed people can apply for a grant of up to 2.5 thousand pounds which will be available in June. I'm not sure how we are supposed to last until then, or why we get a grant instead of any actual help that compares with the employed work force. I'm very frustrated with this situation right now and worried about the future in many ways. I very much hope I misunderstood what I've just read on the BBC website." I was relieved at the 80% and happy with an average but June ffs? | |||
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"All these self-employed people might be regretting the fact that they only declare a tiny fraction of their real incomes now?? Not everyone is out to screw the tax man, I do my taxes every year and pay what is owed all backed up with invoices "your right not everyone does screw the tax man but a lot do.i can think of the top of my head at least half dozen peeps who apparently havent earnt over 15 grand a year for the last 5 or 6 yrs but in reality they been earning well over 30 grand a year | |||
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"https://www.bbc.co.uk/news/uk-52053914 If I understand it right, we are being totally bypassed. Self-employed people can apply for a grant of up to 2.5 thousand pounds which will be available in June. I'm not sure how we are supposed to last until then, or why we get a grant instead of any actual help that compares with the employed work force. I'm very frustrated with this situation right now and worried about the future in many ways. I very much hope I misunderstood what I've just read on the BBC website. What would you prefer instead of a grant? Surely money you get monthly that you don't have to pay back is about as good as it gets? " This, self employed are being given exactly the same as the employed. I dont see the issue myself. Waiting until June isn't the best but you've go parity now. And before you say anything I am self employed but very fortunate that my work wont be impacted. I'd be more than happy with they have proposed. | |||
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"Yeah for some, not all It's hard to offer a 'one size fits all' deal for self employed as the variants are broad. Let's see what he has to say before we get all doom and gloom! Any help right now would be amazing as our business and personal outgoings are crippling You are right ... any help would be welcome, but I do think that there is so much high expectation there is going to be masses who are disappointed with whatever is offered. Isn't that us Brits all over though? We love to moan...it's our favourite pass time! hahaha I am trying my best to stay positive and hope that we won't be left in the shit, but if we are, I will enjoy having a jolly good moan about it before hitting the gin and thinking about plan Z! xx" We’d better stock up on the gin before it runs out  | |||
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"a few things.... 1) for a lot of people it will not be as good as hoped, but nowhere near as bad as fears.... 2) its asking a lot of people to try an make it till june! if you can make it till then you "should" be fine 3) i think the days of self employed people paying cheaper NI are now done, especially if basically the scheme treats self employed and PAYE people the same!" Agree
The best thing to help with point 2 would be to look at all monthly outgoings/ commitments and pause them where possible . Mortgage/rent providers and landlords should be in support of payment holiday. Council tax - councils are allowing payment holiday.
Those are probably the 2 largest outgoings .
Pause monthly commitments where possible.
Tap into some of the other government support schemes - eg. business interruption loans to cover if necessary the next month or two
Do the paperwork / applications for the 80% grant and money will be forthcoming .
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"a few things.... 1) for a lot of people it will not be as good as hoped, but nowhere near as bad as fears.... 2) its asking a lot of people to try an make it till june! if you can make it till then you "should" be fine 3) i think the days of self employed people paying cheaper NI are now done, especially if basically the scheme treats self employed and PAYE people the same!" remember the "money" coming in june is 3 months worth of backdated money.... so the question is as long as the banks are accomodating, for example with overdrafts, till they know the money is coming, people should be okay | |||
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"He did say at the end that in the future the people who have been helped by this will pay in fairly and the same as others do...I took that as saying, please declare what you are earning in future" I think it was more to do with the national insurance that we will pay in the future. I could be wrong though | |||
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"a few things.... 1) for a lot of people it will not be as good as hoped, but nowhere near as bad as fears.... 2) its asking a lot of people to try an make it till june! if you can make it till then you "should" be fine 3) i think the days of self employed people paying cheaper NI are now done, especially if basically the scheme treats self employed and PAYE people the same! remember the "money" coming in june is 3 months worth of backdated money.... so the question is as long as the banks are accomodating, for example with overdrafts, till they know the money is coming, people should be okay " He says he hopes people will be able to "access" the scheme "no later than June". Already I just saw BBC news misquote that and say payments to be made in early June. He didn’t say that. He HOPES no later than June. So could be end of June, but he’s left enough ambiguity for that to bleed into July. Seems a long time. I can understand it’s a difficult process to implement, usually this would probably take much longer yet they have to do it in 3 months. Like someone stated above, if anyone is struggling and will be waiting for this lifeline most large outgoings can be reduced eg mortgage payments, finance, credit cards etc. Even rent seeing as there’s new powers to stop evictions | |||
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"https://www.bbc.co.uk/news/uk-52053914 If I understand it right, we are being totally bypassed. Self-employed people can apply for a grant of up to 2.5 thousand pounds which will be available in June. I'm not sure how we are supposed to last until then, or why we get a grant instead of any actual help that compares with the employed work force. I'm very frustrated with this situation right now and worried about the future in many ways. I very much hope I misunderstood what I've just read on the BBC website." It's strange that the money is there for a grant but not there to give directly. Also the administration costs to apply seem pointless, as they know who is already eligible as they will post out the forms. There will be conditions to the loans before it's released from the banks. This may be effected by the applicants current credit value. | |||
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"https://www.bbc.co.uk/news/uk-52053914 If I understand it right, we are being totally bypassed. Self-employed people can apply for a grant of up to 2.5 thousand pounds which will be available in June. I'm not sure how we are supposed to last until then, or why we get a grant instead of any actual help that compares with the employed work force. I'm very frustrated with this situation right now and worried about the future in many ways. I very much hope I misunderstood what I've just read on the BBC website. It's strange that the money is there for a grant but not there to give directly. Also the administration costs to apply seem pointless, as they know who is already eligible as they will post out the forms. There will be conditions to the loans before it's released from the banks. This may be effected by the applicants current credit value." I don’t understand your point, what the difference between a grant and money given directly ? What admin costs ? Conditions on the loans ? Absolutely, you still have to apply like any other loan. They will expect personal guarantees, and won’t loan unless you have no other option to fund your business | |||
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"Is fair and right, I had just misunderstood what they were doing and had a bit of a panic. Please ignore my earlier post one above this. ( or if an admin would please delete it that would be even better)" It's understandable for you to be panicking and getting things abit muddled, I'm glad you will be OK financially eventually. I'm sure he said something about money being available via universal credit before June. | |||
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"Is fair and right, I had just misunderstood what they were doing and had a bit of a panic. Please ignore my earlier post one above this. ( or if an admin would please delete it that would be even better) It's understandable for you to be panicking and getting things abit muddled, I'm glad you will be OK financially eventually. I'm sure he said something about money being available via universal credit before June. " Yeah that’s right. For those that need that lifeline it would be a good idea to get the forms ASAP | |||
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"I am relieved that S/E people are getting help and for the majority of people it will certainly keeps heads above water, alongside mortgage breaks and holidays on other commitments. He did say that it only applies to people who have submitted a 2019 tax return, so the newer S/E people will be scuppered. But I also like the fact that he said that S/E must make up the majority of your income to be eligible. I hate to say it, but I know an awful lot of people who work for an employer and do S/E work for pocket money; I'm glad they are not eligible as they should be getting the 80% furlough money. There are also people who claim a lot of benefits and do S/E work up to a cap so that it doesn't affect benefits. In these cases, S/E money will not be their main income and I think that is fair. I can imagine this whole things has been a bit of a minefield for government and rolling it out is going to be complicated and timely. We are cutting our cloth HUGELY to make it until June, by which time, we are hoping that the grant for our income will be in place AND the £10k grant for business expenses will be received. Our insurance are useless, so we are not holding out for that! Those who have under declared earnings/profit will feel the pinch but it is what it is! Expect a very uncertain and costly future folks. This unprecedented spending will take generations to pay back and will affect everything going forward; mortgages, income tax, NI, pensions, loans, bank charges, benefits...everything!!! It's all very well looking at the immediate future (I know I am) BUT we must understand that this national debt is going to cripple the country for our lifetime and beyond! " I agree with a lot of these comments and cutting your cloth is sound advice. I hope we don’t get people claiming just for some free cash, as like you say the economy is going to be on its arse for years to come | |||
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"So if someone kicks the bucket after being unable to look after themselves or their family, does that still count against the Covid-19 stats? Asking for a friend." Feeling a little more upbeat than last night, but not much... This feels like a safety net with very large holes. There's a massive difference between someone on paye earning 50k to a sole trader earning the same (or less). Also throwing in the quip about the inequality of the tax system doesn't bode well for the future. I guess the tories are gonna do what they do best... | |||
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"So if someone kicks the bucket after being unable to look after themselves or their family, does that still count against the Covid-19 stats? Asking for a friend." Yes | |||
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"He did say at the end that in the future the people who have been helped by this will pay in fairly and the same as others do...I took that as saying, please declare what you are earning in future I think it was more to do with the national insurance that we will pay in the future. I could be wrong though " I am guessing you are right | |||
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