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Whatever help he gives the self employed 17:31 - Mar 26 with 3274 viewsbluelagos

There would be a beautiful irony if it is based on previous tax returns :-)

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Whatever help he gives the self employed on 17:34 - Mar 26 with 2361 viewsuefacup81

Given that the support is going to be based on profits, isn't that precisely what he's done?

A few chickens finally coming home to roost there!

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Whatever help he gives the self employed on 17:39 - Mar 26 with 2311 viewsPinewoodblue

Whatever help he gives the self employed on 17:34 - Mar 26 by uefacup81

Given that the support is going to be based on profits, isn't that precisely what he's done?

A few chickens finally coming home to roost there!


Plus the twist at the end which will remove any tax advantages gained from being self employed.

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Whatever help he gives the self employed on 17:40 - Mar 26 with 2312 viewsbluelagos

Whatever help he gives the self employed on 17:34 - Mar 26 by uefacup81

Given that the support is going to be based on profits, isn't that precisely what he's done?

A few chickens finally coming home to roost there!


Not seen the news, but yeah, that is quite amusing. One of my mates is a London cabbie, big house, second one is Spain. He told me (Five years ago) his taxable earnings were 15k.

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Whatever help he gives the self employed on 17:40 - Mar 26 with 2295 viewsgiant_ullaa

Whatever help he gives the self employed on 17:39 - Mar 26 by Pinewoodblue

Plus the twist at the end which will remove any tax advantages gained from being self employed.


Wasn't watching - permanently? and which advantages? (I just give this to my accountant like a lame little duck and pay what he tells me to).

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 17:44 - Mar 26 with 2257 viewsPinewoodblue

Whatever help he gives the self employed on 17:40 - Mar 26 by giant_ullaa

Wasn't watching - permanently? and which advantages? (I just give this to my accountant like a lame little duck and pay what he tells me to).


national insurance contribution advantages of being self employed sprung to mind.

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Whatever help he gives the self employed on 17:48 - Mar 26 with 2226 viewsgiant_ullaa

Whatever help he gives the self employed on 17:44 - Mar 26 by Pinewoodblue

national insurance contribution advantages of being self employed sprung to mind.


I've no idea what they are - I'm not being challenging - I'm being ignorant!

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 17:49 - Mar 26 with 2224 viewsJeanManuelThetis

Whatever help he gives the self employed on 17:39 - Mar 26 by Pinewoodblue

Plus the twist at the end which will remove any tax advantages gained from being self employed.


This will be all well and good if they provide Self Employed people with the same safety nets as employed people (e.g. sick pay, maternity/ paternity leave etc.). Otherwise it's a very weird threat to make from a government who have spent 10 years encouraging people to leave the PAYE system and be 'entrepreneurs'
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Whatever help he gives the self employed on 18:03 - Mar 26 with 2155 viewsLord_Lucan

Whatever help he gives the self employed on 17:40 - Mar 26 by bluelagos

Not seen the news, but yeah, that is quite amusing. One of my mates is a London cabbie, big house, second one is Spain. He told me (Five years ago) his taxable earnings were 15k.


I have a black cabbie friend who used to give away all his diesel receipts to anyone who wanted them because there was no way the amount of diesel he got through equated to what he earn't. Black cabbies must make at the very least £50k pa

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Whatever help he gives the self employed on 18:05 - Mar 26 with 2139 viewsbluelagos

Whatever help he gives the self employed on 18:03 - Mar 26 by Lord_Lucan

I have a black cabbie friend who used to give away all his diesel receipts to anyone who wanted them because there was no way the amount of diesel he got through equated to what he earn't. Black cabbies must make at the very least £50k pa


That was exactly what I guestimated based on my mate's lifestyle.

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Whatever help he gives the self employed on 18:08 - Mar 26 with 2127 viewsLord_Lucan

Whatever help he gives the self employed on 18:05 - Mar 26 by bluelagos

That was exactly what I guestimated based on my mate's lifestyle.


The chancellor could have given the self employed 100% and still add it up on a pocket calculator as the self employed never make a penny.

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Whatever help he gives the self employed on 18:14 - Mar 26 with 2102 viewsfactual_blue

Whatever help he gives the self employed on 18:03 - Mar 26 by Lord_Lucan

I have a black cabbie friend who used to give away all his diesel receipts to anyone who wanted them because there was no way the amount of diesel he got through equated to what he earn't. Black cabbies must make at the very least £50k pa


I always thought the revenue to the approach with black cabbies that 'you can say what you like, you earn £x.'

Morton's Fork.

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Whatever help he gives the self employed on 18:16 - Mar 26 with 2086 viewsStochesStotasBlewe

Whatever help he gives the self employed on 18:08 - Mar 26 by Lord_Lucan

The chancellor could have given the self employed 100% and still add it up on a pocket calculator as the self employed never make a penny.


By my reckoning, i should be entitled to about 57 pence then

We have no village green, or a shop. It's very, very quiet. I can walk to the pub.

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Whatever help he gives the self employed on 18:36 - Mar 26 with 1983 viewsGuthrum

That's fine by me. Rather that than having to queue for UC.

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Whatever help he gives the self employed on 18:38 - Mar 26 with 1972 viewsgiant_ullaa

Whatever help he gives the self employed on 18:36 - Mar 26 by Guthrum

That's fine by me. Rather that than having to queue for UC.


Can you explain something for me pretty please?

If it's based on profits, is that the same as dividend income?

Without knowing for sure, I think I pay x in paye and then more or less also x in dividends... edit: there's no profits - everything I earn I pay myself (minus the tax, whatever that is)
[Post edited 26 Mar 2020 18:39]

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 18:44 - Mar 26 with 1940 viewsGuthrum

Whatever help he gives the self employed on 18:38 - Mar 26 by giant_ullaa

Can you explain something for me pretty please?

If it's based on profits, is that the same as dividend income?

Without knowing for sure, I think I pay x in paye and then more or less also x in dividends... edit: there's no profits - everything I earn I pay myself (minus the tax, whatever that is)
[Post edited 26 Mar 2020 18:39]


Dividends aren't necessarily the whole of profits, they may only be a small portion, or the business can decide not to issue any at all. Profits over and above that go back into the company's coffers.

When self-employed, broadly speaking, all profits* are assumed to go into your pocket and taxed accordingly as income.


* There are offsetting schemes and the like to allow you to move money (or losses) to later years in certain cases of irregular income, e.g. authors. Don't fully understand them as never been relevant to my situation.

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Whatever help he gives the self employed on 18:46 - Mar 26 with 1925 viewsGuthrum

Whatever help he gives the self employed on 17:44 - Mar 26 by Pinewoodblue

national insurance contribution advantages of being self employed sprung to mind.


Which ones are they?

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Whatever help he gives the self employed on 18:46 - Mar 26 with 1923 viewsgiant_ullaa

Whatever help he gives the self employed on 18:44 - Mar 26 by Guthrum

Dividends aren't necessarily the whole of profits, they may only be a small portion, or the business can decide not to issue any at all. Profits over and above that go back into the company's coffers.

When self-employed, broadly speaking, all profits* are assumed to go into your pocket and taxed accordingly as income.


* There are offsetting schemes and the like to allow you to move money (or losses) to later years in certain cases of irregular income, e.g. authors. Don't fully understand them as never been relevant to my situation.


Cheers mr, appreciate it. So profits are turnover minus PAYE and other costs?

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 18:49 - Mar 26 with 1899 viewsGuthrum

Whatever help he gives the self employed on 18:46 - Mar 26 by giant_ullaa

Cheers mr, appreciate it. So profits are turnover minus PAYE and other costs?


Profits are turnover (gross income) minus cost of sales (e.g. materials) and any other allowable expenses (e.g. vehicle depreciation).

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Whatever help he gives the self employed on 18:51 - Mar 26 with 1884 viewsgiant_ullaa

Whatever help he gives the self employed on 18:49 - Mar 26 by Guthrum

Profits are turnover (gross income) minus cost of sales (e.g. materials) and any other allowable expenses (e.g. vehicle depreciation).


So nothing to do with PAYE then.

Sorry to be so dim (I know I should know this!)

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 18:57 - Mar 26 with 1842 viewsGuthrum

Whatever help he gives the self employed on 18:51 - Mar 26 by giant_ullaa

So nothing to do with PAYE then.

Sorry to be so dim (I know I should know this!)


Employee wages/salaries (via PAYE or any other method - e.g. the Construction Industry Scheme for subcontractors) come under cost of sales. Sorry, should have been clearer.

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Whatever help he gives the self employed on 19:02 - Mar 26 with 1828 viewsgiant_ullaa

Whatever help he gives the self employed on 18:57 - Mar 26 by Guthrum

Employee wages/salaries (via PAYE or any other method - e.g. the Construction Industry Scheme for subcontractors) come under cost of sales. Sorry, should have been clearer.


no worries mr - not your fault you're dealing with an imbicile.

I'm with you now.

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 19:19 - Mar 26 with 1781 viewsgiant_ullaa

Whatever help he gives the self employed on 19:02 - Mar 26 by giant_ullaa

no worries mr - not your fault you're dealing with an imbicile.

I'm with you now.


Turns out I left an important detail out - if you're a sole director of a limited company, then this scheme *and* the employed one *probably* doesn't cover you / me.

That's because I'm not technically self-employed (so not covered by today's scheme) and I can't 'furlough' myself as a director (if I'm right, this can't happen as it would mean effectively shutting the company) .

This could ruin many people, but on the bright side, at least the self-employed are getting their comeuppance at last.
[Post edited 26 Mar 2020 19:20]

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 19:31 - Mar 26 with 1731 viewsLord_Lucan

Whatever help he gives the self employed on 19:19 - Mar 26 by giant_ullaa

Turns out I left an important detail out - if you're a sole director of a limited company, then this scheme *and* the employed one *probably* doesn't cover you / me.

That's because I'm not technically self-employed (so not covered by today's scheme) and I can't 'furlough' myself as a director (if I'm right, this can't happen as it would mean effectively shutting the company) .

This could ruin many people, but on the bright side, at least the self-employed are getting their comeuppance at last.
[Post edited 26 Mar 2020 19:20]


Ah

If you are a director of your own Ltd company then of course you are not self employed.

Are you subject to business rates or do you work from home?

Also, I'm pretty certain that you can furlough yourself.

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Whatever help he gives the self employed on 19:37 - Mar 26 with 1708 viewsgiant_ullaa

Whatever help he gives the self employed on 19:31 - Mar 26 by Lord_Lucan

Ah

If you are a director of your own Ltd company then of course you are not self employed.

Are you subject to business rates or do you work from home?

Also, I'm pretty certain that you can furlough yourself.


I feel self employed! Pretty sure banks think of me as self employed when i apply for a loan?

Work from home or sometimes at the punter's place.

Agree the furlough bit seems grey, but the advice coming out of a freelancer group i belong to seems to be its a no go, as a company without a working director is no longer a live company. so goes the logic of that argument, at least.

Anyway, fck whining about it.
[Post edited 26 Mar 2020 19:40]

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry.
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Whatever help he gives the self employed on 19:48 - Mar 26 with 1676 viewsOsborneOneNil

Whatever help he gives the self employed on 19:37 - Mar 26 by giant_ullaa

I feel self employed! Pretty sure banks think of me as self employed when i apply for a loan?

Work from home or sometimes at the punter's place.

Agree the furlough bit seems grey, but the advice coming out of a freelancer group i belong to seems to be its a no go, as a company without a working director is no longer a live company. so goes the logic of that argument, at least.

Anyway, fck whining about it.
[Post edited 26 Mar 2020 19:40]


Yes, mortgage lenders consider company directors as self employed. 90% of them calculate borrowing potential by assessing the salary AND dividend income taken. Only a few use net profit.
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