Self Employed

[Supamart]

I bet a number of them (though not all of course) wish they had put their true earnings through the system now, and not just below the tax threshold.

80% of £20 profit, is not very much !

[Kit Kat Chunky]

I bet a number of them (though not all of course) wish they had put their true earnings through the system now, and not just below the tax threshold.

80% of £20 profit, is not very much !

I'm self employed and think I will qualify. The upper earnings limit though is £50K, I believe. Whilst this is a good wage, it's not a fortune.

[Tom Joad]

I bet a number of them (though not all of course) wish they had put their true earnings through the system now, and not just below the tax threshold.

80% of £20 profit, is not very much !

I'm self employed and it's the first time any government has ever even given us so much as a nod. I also think it seems fair. I believe 80% of your earnings based on the last 3 years. I would have preferred every worker ( both employed and self employed), to have been given a straight £250 to £300 a week for 3 months. I haven't done any maths but it might work out cheaper than the admin associated with the self employed payments, the furloughing and so on. Either way, it ain't perfect but it's something.
 I used to employ a small workforce, each getting 5 weeks holiday a year (with me both paying for it plus covering the work), sort out the tax (including the headache of having to explain why and calculate any 2nd income they may have had) and these days I would have to set up  pensions as well. It became a job on it's own and it's a headache I never want again.
I'm back to being just me and a van now and it's the best thing I did.
I just thought I'd put the other side over

[Derek Hardballs]

Here’s the reality for almost all the freelancers I know. Their work dried up as soon as people started self isolating. They are hard working people who pay their bills and taxes they aren’t the cliche that I see on here.

[Tom Joad]

Here’s the reality for almost all the freelancers I know. Their work dried up as soon as people started self isolating. They are hard working people who pay their bills and taxes they aren’t the cliche that I see on here.

I don't see too much cliché, Derek. Most people I knock about with are self employed and are all hard working people who pay bills and taxes.

[Juan Quidonqui]

The other thing to bear in mind is that although it’s 20% less than the average income they have been getting, for as long as everyone is made to stay at home, there is no social spending happening - so hopefully this helps to balance things out a bit.
Although as mentioned, this does always assume the the correct levels of profit were declared in the first place !

[The liquidator]

I bet a number of them (though not all of course) wish they had put their true earnings through the system now, and not just below the tax threshold.

80% of £20 profit, is not very much !

I'm self employed and it's the first time any government has ever even given us so much as a nod. I also think it seems fair. I believe 80% of your earnings based on the last 3 years. I would have preferred every worker ( both employed and self employed), to have been given a straight £250 to £300 a week for 3 months. I haven't done any maths but it might work out cheaper than the admin associated with the self employed payments, the furloughing and so on. Either way, it ain't perfect but it's something.
 I used to employ a small workforce, each getting 5 weeks holiday a year (with me both paying for it plus covering the work), sort out the tax (including the headache of having to explain why and calculate any 2nd income they may have had) and these days I would have to set up  pensions as well. It became a job on it's own and it's a headache I never want again.
I'm back to being just me and a van now and it's the best thing I did.
I just thought I'd put the other side over

Wtf is 300 quid going to get you no thanks the 2500 will do

[Derek Hardballs]

I bet a number of them (though not all of course) wish they had put their true earnings through the system now, and not just below the tax threshold.

80% of £20 profit, is not very much !

I'm self employed and it's the first time any government has ever even given us so much as a nod. I also think it seems fair. I believe 80% of your earnings based on the last 3 years. I would have preferred every worker ( both employed and self employed), to have been given a straight £250 to £300 a week for 3 months. I haven't done any maths but it might work out cheaper than the admin associated with the self employed payments, the furloughing and so on. Either way, it ain't perfect but it's something.
 I used to employ a small workforce, each getting 5 weeks holiday a year (with me both paying for it plus covering the work), sort out the tax (including the headache of having to explain why and calculate any 2nd income they may have had) and these days I would have to set up  pensions as well. It became a job on it's own and it's a headache I never want again.
I'm back to being just me and a van now and it's the best thing I did.
I just thought I'd put the other side over

Wtf is 300 quid going to get you no thanks the 2500 will do

£300 per week.

[The liquidator]

Yes I know what was posted

[Tom Joad]

The other thing to bear in mind is that although it’s 20% less than the average income they have been getting, for as long as everyone is made to stay at home, there is no social spending happening - so hopefully this helps to balance things out a bit.
Although as mentioned, this does always assume the the correct levels of profit were declared in the first place !

Well if they weren't declared, the money won't be paid. No problem.
The one issue that springs to mind though, is those that rent premises. Although they'll get 80% of what they are paid, they'll still need to fork out for ongoing business expenses. Rent, Utility standing charges, Vehicle payments etc. I went self employed about 30 years ago and spent the first 5 of those years wishing I hadn't! It worked out for me in the end but cost a lot family wise. I genuinely feel for those in the early years and facing this bloody pandemic and it's financial implications.