Self-employed & Coronavirus

[Tim of the Oak]

I doubt it as my earnings will be taken into consideration I assume?

You are probably right made. I haven’t got UC.

 

[stonerblue]

What happens to a sole trader who only has 8 months books? My wife has recently gone self employed as a fitness instructor

Check your local council schemes but so far nothing from mine (burymeansbusiness) as yet. Last time they did a 'fixed costs' scheme not based on earnings.

 

[Tuearts right boot]

I doubt it as my earnings will be taken into consideration I assume?

I doubt it as you are 2 separate entities, check with your accountant.

 

[kinkyblue]

I doubt it as you are 2 separate entities, check with your accountant.

Ah ok I shall thanks

 

[blueinsa]

Just had email from the bank to say we can top up our BBL and they are finalising details now. Anyone who didn't take the full 25%/£50k at first will be able to take another chunk upto the full amount.

 

[Tuearts right boot]

Just had email from the bank to say we can top up our BBL and they are finalising details now. Anyone who didn't take the full 25%/£50k at first will be able to take another chunk upto the full amount.

How does that work then, was the percentage was optional, thought it was all or nothing.

 

[Tuearts right boot]

​

View in browser A bit more good news... ​

​ ​ ​ COVID-19 Support​ ​ ​ Dear customer, In light of the increased restrictions needed to curb the coronavirus pandemic, the UK Government is introducing additional economic measures to support you. Latest changes that may impact you Yesterday, 5‌‌‌ November 2020, the Chancellor announced that the UK Government is increasing the overall level of the next SEISS grant from 55% to 80% of trading profits. This grant will cover a three-month period from the start of November until the end of January. The UK Government will pay a taxable grant which is based on 80% of three months’ average trading profits, paid out in a single instalment and capped at £7,500. The SEISS Grant Extension will last for six months in total, from 1‌‌‌ November 2020 to 30‌‌‌ April 2021. A further grant will cover February to April, as grants will be paid in two lump sum instalments each covering a three-month period. The government will set out further details, including the level of that grant, in due course. Full details on checking if you’re eligible for the current grant and how to claim will be published on GOV‌.UK week commencing 23‌‌‌ November.​

 

[Cheesy]

So, despite getting no Government help during the pandemic it looks as though we're going to be asked to help foot the bill.

Low tax of directors is ‘unjustifiable’

Self-employed business owners are unfairly paying thousands of pounds less tax than employees who are higher earners, economic experts say. The Institute for

www.thetimes.co.uk

At least if we're on the same rules as everyone else we'll be able to have holiday pay, sick pay, parental leave, etc.

Or may be not :-/