| Self-ekployed or small business owners 15:01 - Apr 12 with 2787 views | Hipsterectomy |
How are you holding up? Is the government package going to help you? Are you rationing money at this time?
Can't imagine how bad Ipswich town centre vicinity will be a year from now because of this. And it's already pretty atrocious. |  |
| Walter Smith's Barmy Army |
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| Self-ekployed or small business owners on 17:06 - Apr 12 with 2710 views | Bugs |
I have a 3 businesses, with just one now running now. Luckily it's the one I put a bit of investment into at the back end of last year, with the intention of doing less with the others. Government help so far is zilch. |  | | |
| Self-ekployed or small business owners on 17:30 - Apr 12 with 2696 views | Bent_double |
As I mentioned in an earlier thread, I got my small business grant at the start of the week, so I've done a spreadsheet, allocated a fixed amount per month for the next 5 months, worked out my monthly expenditure and got rid of unnecessary costs.
All being well that will see me through til September with no other income, but unless I can start earning again July/August, it's going to be a tough winter!
Thumbs up to the gov/council for doing what they've done so far, but sounds like I'm one of the luckier ones as far as actually getting money through. |  |
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| Self-ekployed or small business owners on 17:32 - Apr 12 with 2688 views | NewcyBlue |
| Self-ekployed or small business owners on 17:30 - Apr 12 by Bent_double |
As I mentioned in an earlier thread, I got my small business grant at the start of the week, so I've done a spreadsheet, allocated a fixed amount per month for the next 5 months, worked out my monthly expenditure and got rid of unnecessary costs.
All being well that will see me through til September with no other income, but unless I can start earning again July/August, it's going to be a tough winter!
Thumbs up to the gov/council for doing what they've done so far, but sounds like I'm one of the luckier ones as far as actually getting money through. |
You’ve got a B&B Yarmouth way haven’t you? |  |
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| Self-ekployed or small business owners on 17:35 - Apr 12 with 2678 views | bluelagos |
Yet another horrible side effect of all this could be large numbers of small independent retailers going out of business while the big boys soak up their trade. Hope people make a conscience effort to support the smaller retailers once we are post lockdown... |  |
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| Self-ekployed or small business owners on 17:52 - Apr 12 with 2661 views | Bent_double |
| Self-ekployed or small business owners on 17:32 - Apr 12 by NewcyBlue |
You’ve got a B&B Yarmouth way haven’t you? |
That's right.
Just hoping that the main entertainment businesses in the town are able to survive and re-open - either this summer or next - so there's still a reason for people to come here in the future. | |
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| Self-ekployed or small business owners on 17:52 - Apr 12 with 2661 views | textbackup |
| Self-ekployed or small business owners on 17:35 - Apr 12 by bluelagos |
Yet another horrible side effect of all this could be large numbers of small independent retailers going out of business while the big boys soak up their trade. Hope people make a conscience effort to support the smaller retailers once we are post lockdown... |
about 3 seconds from my front door I have elmers hardware store, its closed, naturally.... but screwfix etc still doing click and collect.... the small guys will be massively hit, sad as i'd normally use them first |  |
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| Self-ekployed or small business owners on 19:32 - Apr 12 with 2566 views | Lord_Lucan |
Our sales to high street stores have obviously gone down to nothing but sales to online sellers have gone up.
After an initial crash of about 90% I would say we are currently about even in year by year sales.
We see this as a long term thing, possibly until September so we are looking at new products to aim at families to do indoors. Talking to a company in India at the moment about a STEM product range. Wanted to get into this before but the Indian company we were looking at chose a Belgian European distributor however they've b*ggered it up so we are hopeful on this. Whether we can afford the initial investment is another thing.
Either way STEM is where we will be looking at going medium term.
Short term we have just got involved with Cyder vinegar and I'm trying to find a jigsaw manufacturer.
Haven't received our £10k bung yet, actually I haven't claimed it as I thought it was automated but I'll claim it next week.
I think many of our bricks and mortar customers will go skint unfortunately, I just can't see how they can ride this out unless they can fast track an online service if they don't already do it.
Businesses relying on the sale of goods need to readjust what and how they are doing things and not just wait for this to blow over. |  |
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| Self-ekployed or small business owners on 19:47 - Apr 12 with 2532 views | Deano69 |
Get the feeling this will change buying habits forever. Retail is going to have to adapt and change to accommodate a population forced into home stay and ordering stuff in.
My real hopes from all of this is that everyone buying from local independent businesses that have serviced their communities in a time of need, continue to get that same level of custom. That we start making stuff again rather than putting all our eggs in one (China) basket. Also, those businesses that stood by their employees prosper and are successful. |  |
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| Self-ekployed or small business owners on 19:48 - Apr 12 with 2530 views | NewcyBlue |
| Self-ekployed or small business owners on 17:52 - Apr 12 by Bent_double |
That's right.
Just hoping that the main entertainment businesses in the town are able to survive and re-open - either this summer or next - so there's still a reason for people to come here in the future. |
Next time we are down for a couple of nights I’ll not bother with a chain hotel. I’ll check to see if you have any availability.
Do you have online booking/availability checker? | |
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| Self-ekployed or small business owners on 21:09 - Apr 12 with 2485 views | Bent_double |
| Self-ekployed or small business owners on 19:48 - Apr 12 by NewcyBlue |
Next time we are down for a couple of nights I’ll not bother with a chain hotel. I’ll check to see if you have any availability.
Do you have online booking/availability checker? |
I've PM'd you. | |
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| Self-ekployed or small business owners on 10:12 - Apr 13 with 2311 views | OsborneOneNil |
As a Mortgage Consultant the home moving side of things has almost stopped. There are a few pushing on despite the date they’ll be able to physically move is unclear. Most products above 75/80% LTV have been pulled too, so my clients with 10% especially have to wait.
Remortgage business is good, zero change there. I’m also helping a lot of people on the Protection side, so Life Cover, Critical Illness Cover, Income Replacement. That’s increased in demand.
I’ve a pipeline of income waiting to pay through on work carried out in the past 4/5 months as well, which would see me ok for 8’months with nothing new.
I’ve a second business which pays me residual income as well, so that covers the essentials at home. |  | | |
| Self-ekployed or small business owners on 13:25 - Apr 13 with 2235 views | daisyisabaddog |
I handle the tax affairs of a few self employed people locally and the measures put in place for them are hopeless. It's OK if you are long term self employed (apart from having to wait until June) but I have 3 people who have been self employed for 18 months or less and they are going to get next to nothing. They are decent hard working people and they've been badly let down.
To make things worse the Chancellor announced that the self employed would have to pay more NIC once this is over. No mention of giving them the same benefits that employees get. I'm still astonished that the Chancellor admitted to being "surprised" at how many self employed people there are in this country.
Asking the self employed to pay some extra NIC is the only measure he has announced so far to claw back some of the some of the money the country has spent. No mention of finally asking Amazon, Google, Apple and Co to pay some tax |  | | |
| Self-ekployed or small business owners on 14:09 - Apr 13 with 2209 views | Lord_Lucan |
| Self-ekployed or small business owners on 13:25 - Apr 13 by daisyisabaddog |
I handle the tax affairs of a few self employed people locally and the measures put in place for them are hopeless. It's OK if you are long term self employed (apart from having to wait until June) but I have 3 people who have been self employed for 18 months or less and they are going to get next to nothing. They are decent hard working people and they've been badly let down.
To make things worse the Chancellor announced that the self employed would have to pay more NIC once this is over. No mention of giving them the same benefits that employees get. I'm still astonished that the Chancellor admitted to being "surprised" at how many self employed people there are in this country.
Asking the self employed to pay some extra NIC is the only measure he has announced so far to claw back some of the some of the money the country has spent. No mention of finally asking Amazon, Google, Apple and Co to pay some tax |
So if you were handling the tax affairs of Amazon, Apple etc would you tell them to pay more tax?
As for your clients who are 18 months self employed, have you looked into the possibility of submitting one full year and one part years books? | |
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| Self-ekployed or small business owners on 16:09 - Apr 13 with 2149 views | carlisleaway |
| Self-ekployed or small business owners on 14:09 - Apr 13 by Lord_Lucan |
So if you were handling the tax affairs of Amazon, Apple etc would you tell them to pay more tax?
As for your clients who are 18 months self employed, have you looked into the possibility of submitting one full year and one part years books? |
Looking back, the larger companies shifted manufacturing to make bigger profits through China. Perhaps in the long term new manufacturing companies setting up and not wanting an excessive profit may set up from the UK. I try and support British made products and hope this has opened the eyes of many companies and individuals, but long term the bigger profit will still be the end product. A certain Mr Dyson comes to mind....... |  | | |
| Self-ekployed or small business owners on 16:31 - Apr 13 with 2111 views | Lord_Lucan |
| Self-ekployed or small business owners on 16:09 - Apr 13 by carlisleaway |
Looking back, the larger companies shifted manufacturing to make bigger profits through China. Perhaps in the long term new manufacturing companies setting up and not wanting an excessive profit may set up from the UK. I try and support British made products and hope this has opened the eyes of many companies and individuals, but long term the bigger profit will still be the end product. A certain Mr Dyson comes to mind....... |
Dyson hasn't set up in China bug he is somewhere in the Far East I grant you.
I am sceptical to be honest as people don't want to pay £100 for a toaster.
I think though there is a sound case for implementing UK manufacture of certain essentials - PPE comes to mind obviously.
As for the taxing of Amazon etc, haven't they moved offices to Ireland and Luxembourg anyway to avoid tax. Every time I have to speak with an Amazon representative they are in a Dublin office and all my commission invoices and charges are issued from Luxembourg. | |
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| Self-ekployed or small business owners on 17:06 - Apr 13 with 2083 views | carlisleaway |
| Self-ekployed or small business owners on 16:31 - Apr 13 by Lord_Lucan |
Dyson hasn't set up in China bug he is somewhere in the Far East I grant you.
I am sceptical to be honest as people don't want to pay £100 for a toaster.
I think though there is a sound case for implementing UK manufacture of certain essentials - PPE comes to mind obviously.
As for the taxing of Amazon etc, haven't they moved offices to Ireland and Luxembourg anyway to avoid tax. Every time I have to speak with an Amazon representative they are in a Dublin office and all my commission invoices and charges are issued from Luxembourg. |
The PPE question is a good example and something the Government should look into.
Apologies about Dyson thought it was an Asian factory | | | |
| Self-ekployed or small business owners on 17:09 - Apr 13 with 2082 views | Lord_Lucan |
| Self-ekployed or small business owners on 17:06 - Apr 13 by carlisleaway |
The PPE question is a good example and something the Government should look into.
Apologies about Dyson thought it was an Asian factory |
Yes, somewhere in Far East, Philippines I think but can't be arsed to Google it | |
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| Self-employed or small business owners on 17:56 - Apr 13 with 2055 views | Canadafan |
Canadian perspective- I run a Veterinary clinic. two of my staff are not working due to being worried about becoming sick -they are getting $2000/month-taxable- for next 4 months from the government COVID unemployment program. I can receive a $40000 interest free government loan with $10000 being forgiven if I repay the rest by the end of 2022. I can also receive a 75% wage subsidy for my employee wages if my gross business income drops by 15% over the next 2 months. We don't allow clients into the clinic- we bring their pets in from our parking lot and payment is CC over phone or e-transfer. Social distancing has been in effect for 3 weeks+ now. |  | | |
| Self-ekployed or small business owners on 18:34 - Apr 13 with 2009 views | NewcyBlue |
| Self-ekployed or small business owners on 17:09 - Apr 13 by Lord_Lucan |
Yes, somewhere in Far East, Philippines I think but can't be arsed to Google it |
Malaysia and Singapore. | |
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| Self-employed or small business owners on 19:01 - Apr 13 with 1993 views | linhdi |
| Self-employed or small business owners on 17:56 - Apr 13 by Canadafan |
Canadian perspective- I run a Veterinary clinic. two of my staff are not working due to being worried about becoming sick -they are getting $2000/month-taxable- for next 4 months from the government COVID unemployment program. I can receive a $40000 interest free government loan with $10000 being forgiven if I repay the rest by the end of 2022. I can also receive a 75% wage subsidy for my employee wages if my gross business income drops by 15% over the next 2 months. We don't allow clients into the clinic- we bring their pets in from our parking lot and payment is CC over phone or e-transfer. Social distancing has been in effect for 3 weeks+ now. |
Sounds sensible, well-thought-out and efficiently delivered. | | | |
| Self-employed or small business owners on 19:20 - Apr 13 with 1981 views | Lord_Lucan |
| Self-employed or small business owners on 17:56 - Apr 13 by Canadafan |
Canadian perspective- I run a Veterinary clinic. two of my staff are not working due to being worried about becoming sick -they are getting $2000/month-taxable- for next 4 months from the government COVID unemployment program. I can receive a $40000 interest free government loan with $10000 being forgiven if I repay the rest by the end of 2022. I can also receive a 75% wage subsidy for my employee wages if my gross business income drops by 15% over the next 2 months. We don't allow clients into the clinic- we bring their pets in from our parking lot and payment is CC over phone or e-transfer. Social distancing has been in effect for 3 weeks+ now. |
That is less than our package except for one very big point - the loan.
Despite government intervention I believe that many businesses are finding it difficult to get our government backed loans. The feeling was that the banks were crapping themselves that businesses would all take out the government backed loans and pay off their existing loans - not sure if much has changed since the banks got a snotty instruction last week.
Out of interest - are the loans from the banks or the government and either way do businesses have to offer projections? | |
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| Self-employed or small business owners on 21:06 - Apr 13 with 1925 views | Canadafan |
| Self-employed or small business owners on 19:20 - Apr 13 by Lord_Lucan |
That is less than our package except for one very big point - the loan.
Despite government intervention I believe that many businesses are finding it difficult to get our government backed loans. The feeling was that the banks were crapping themselves that businesses would all take out the government backed loans and pay off their existing loans - not sure if much has changed since the banks got a snotty instruction last week.
Out of interest - are the loans from the banks or the government and either way do businesses have to offer projections? |
The loans are administered by the banks but guaranteed by the government. No projections needed. Only stipulations are related to being a Canadian tax paying business with payroll >$50000/year. | | | |
| Self-ekployed or small business owners on 15:56 - Apr 17 with 1720 views | daisyisabaddog |
| Self-ekployed or small business owners on 14:09 - Apr 13 by Lord_Lucan |
So if you were handling the tax affairs of Amazon, Apple etc would you tell them to pay more tax?
As for your clients who are 18 months self employed, have you looked into the possibility of submitting one full year and one part years books? |
I don't represent Amazon etc. But if I was Chancellor I would be looking to them to pay their fair share going forward. Bearing in mind the amount of money that will be needed I doubt the Government will have much choice but to finally do something about corporate tax avoidance.
As for my clients, the payment to the self employed is based on the three years ended 5 April 2019. There is no option to use the Return to 5 April 2020. That means that anyone who commenced self employment after 6 April 2019 gets nothing. And those who had a part year included in the period don't get that year annualised. | | | |
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