Self Employed

[HeathAyIt]

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

Agree. Wouldve been better just issuing everyone who qualified with a grand for a month and keeping that under review.

[Baggybenny]

The payments are going to be taxable. What a lot of extra admin this will create! Will they also want to dock off the nic ?

[Juan Quidonqui]

The payments are going to be taxable. What a lot of extra admin this will create!  Will they also want to dock off the nic ?

Presumably whatever payment you get will just be treated as part of your taxable income for however long it is paid for. 
So it’ll just get added to any other taxable profit you make in the tax year and get reported on the tax return - with the corresponding tax and class 4 NIC calculated on that overall figure. 
So shouldn’t create any particular problems when it comes to reporting it. 

Getting your hands on the cash in the first place may be a different story !

[MassDebater]

I dont agree that someone who has earned £150,000 for the past 3 years will get £2500 per month and yet someone who has earned £51,000 for the same period will get nothing.

They won't though will they, they'll both get £2,500, is how I read it. Or do you mean someone who has earned £51k over 3 years?

[rsbaggy2]

I dont agree that someone who has earned £150,000 for the past 3 years will get £2500 per month and yet someone who has earned £51,000 for the same period will get nothing.

They won't though will they, they'll both get £2,500, is how I read it. Or do you mean someone who has earned £51k over 3 years?

It seems as though it's £50k max. average per year over 3 years. 
However, for someone who has only submitted a first year return in 2018/19 and shows profits of over £50k there will be nothing. 

As I see it.

[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

Fuck me! Are you for real? You would be the last person I would pick if I need help in such circumstances.

Why the fuck can you not make do with £300 per week? Greedy feckers like you are the least deserving. 

Lay off the pink gins and wild salmon. It's about food essentials, not grandeur living.

I dont need the 300 quid you fucking clown ........I'm in PAYE job
Go on pay your rent/mortgage  gas / electric/ food / council tax / fuel for the car to get to work ....

[MassDebater]

I dont agree that someone who has earned £150,000 for the past 3 years will get £2500 per month and yet someone who has earned £51,000 for the same period will get nothing.

They won't though will they, they'll both get £2,500, is how I read it. Or do you mean someone who has earned £51k over 3 years?

It seems as though it's £50k max. average per year over 3 years. 
However, for someone who has only submitted a first year return in 2018/19 and shows profits of over £50k there will be nothing. 

As I see it.

I see what you mean after re-reading it...

[WWHO]

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

Fuck me! Are you for real? You would be the last person I would pick if I need help in such circumstances.

Why the fuck can you not make do with £300 per week? Greedy feckers like you are the least deserving. 

Lay off the pink gins and wild salmon. It's about food essentials, not grandeur living.

I dont need the 300 quid you fucking clown ........I'm in PAYE job
Go on pay your rent/mortgage  gas / electric/ food / council tax / fuel for the car to get to work ....

I cover each of those items (apart from fuel) for a lot less than £300 per week.

[rsbaggy2]

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

Fuck me! Are you for real? You would be the last person I would pick if I need help in such circumstances.

Why the fuck can you not make do with £300 per week? Greedy feckers like you are the least deserving. 

Lay off the pink gins and wild salmon. It's about food essentials, not grandeur living.

I dont need the 300 quid you fucking clown ........I'm in PAYE job
Go on pay your rent/mortgage  gas / electric/ food / council tax / fuel for the car to get to work ....

So we haven't purged all the cunts off this board then?

If you're in a PAYE job then why the fuck you moaning? You will get the 2500 per month max, if anyone is idiot enough to pay you that much.

You really must live in a different world.

[The liquidator]

If you want to take the insults off here I think you should do DM me .