johnmc
Well-Known Member
How would they have survived on minimal profits?
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Self-employed & Coronavirus
- Thread starter Ric
- Start date
How would they have survived on minimal profits?
That’s my Brother-in-law. He pays for everything he, my Sister and the kids have with dividends. He doesn’t know what he’s going to do.
It's such a shit situation to be in :(
Just UC which is obviously a lot better for renters rather than mortgage payers, although I can see SMI being modified very soon.
Just checked and I'm not entitled to it.
I assume mine & the Mrs wages take us above the eligibility threshold.
That’s my Brother-in-law. He pays for everything he, my Sister and the kids have with dividends. He doesn’t know what he’s going to do.
This is not for him, he can claim wages under the job retention scheme. No way is he living on just dividends he will ask be paying a wage to himself and his wife if he’s sensible
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blueinsa
Guest
Real sorry mate :(
Dont be.
I shut my online store down yesterday so that myself, my family, the Royal Mail, staff i have to see twice a day to source my stock etc are all that bit safer and to do what i was being asked to do and that was stay at home and protect the NHS. I did so in the belief that some small part of my families income would be protected this afternoon as a director of a new start business.
That help never came so my store is back open because i have bills to pay and a roof to put over my kids heads and i will take my chances with the virus.
Last edited by a moderator:
Chris in London
Well-Known Member
- Joined
- 21 Sep 2009
- Messages
- 13,048
This is not for him, he can claim wages under the job retention scheme. No way is he living on just dividends he will ask be paying a wage to himself and his wife if he’s sensible
he’ll be paying himself about 8 grand and the rest in dividends. He will get 80% of his wages and 0% of the dividends
he’ll be paying himself about 8 grand and the rest in dividends. He will get 80% of his wages and 0% of the dividends
Then he’s daft as he can earn about 12500 tax free and his Mrs if he ‘employed ‘ her
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blueinsa
Guest
How would they have survived on minimal profits?
You do by living on the absolute minimum, often far less than you would get if you claimed benefits.
Ive been operating since last September and its been a huge struggle with lots of investments and not a lot of sales so far until this last 2 months which have seen the hard work start to pay off but even now i take nothing from it if we dont have too because it has to grow.
johnmc
Well-Known Member
You do by living on the absolute minimum, often far less than you would get if you claimed benefits.
Ive been operating since last September and its been a huge struggle with lots of investments and not a lot of sales so far until this last 2 months which have seen the hard work start to pay off but even now i take nothing from it if we dont have too because it has to grow.
He was referring to people who have done it for decades. I understand your post for new start ups
This is not for him, he can claim wages under the job retention scheme. No way is he living on just dividends he will ask be paying a wage to himself and his wife if he’s sensible
He can't claim the 80% under the Job Retention Scheme as you can't furlough yourself.