Freelance /self employed panic thread

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  • self facilitating media nodes

    I appreciate the reference

  • I try. I mean. There's always room for the bit about bouncing up the stairs listening to Wu Tang. But I can never really remember it.

  • Martin Lewis suggesting it's going to be a 'package' taking into account UC/Housing Benefit/SSP/VAT deferral etc. Not all of which is applicable.

    The wording has also changed from "whatever it takes" to "whatever we can".

    Not optimistic. Hope to be proven wrong.

  • I'm going to regret not taking a salary last year aren't I?

    In terms of the support being based on recent earnings I mean.

    (And before anybody asks, it wasn't a fiddle, I didn't declare any dividends either)

  • This is why it has been so complicated for them to work out a system I guess. I know several photographic assistants that don't have 3 years of accounts or if they are they are pretty low for example as they were done alongside part time work such as studio assisting.

    Then there are TV presenters, lawyers etc who may have massive income and instantly take home everything up to the cap when they don't really need it. Anyway, we will hopefully find out soon.

  • I've been using my savings for the last few years, whilst I dealt with various family and personal stuff - my accounts have been very low. I'm going to fall through the net, just at the time I actually need it, aren't I?

  • Hey guys, if you pay council tax via direct debit, most people are on a 10 payment in 12 schedule with Feb and March free of payments.
    If your council allows (which most will) you can move these payment free periods to April and May, so that your 10 payments will begin on June until March.

    Hopefully helps out some folk? I've just done it for Eastleigh Council, and all my work colleagues have managed to sort out the same.

  • So.

    Its 80% of average profits over the last 3 years to a max of 2.5k.

    More than i was expecting.

  • People who manipulate profit through expenses get fucked then?

  • Got to survive til June though before any payment

  • Devil will be in the detail.

    On the face of it, it sounds pretty wild.

  • Seemingly. It's also taxable. And a note that income tax will be at higher levels for the self employed in the future...

  • Aye this is the start of the self employed getting really fucked now.

  • .


    Looks like dividend people are fucked too:

    Those who pay themselves a salary and dividends through their own company are not covered by the scheme but will be covered for their salary by the Coronavirus Job Retention Scheme if they are operating PAYE schemes.

  • Great.

  • Unless I missed something, you are correct.

  • hooray I'm fucked. my income is split about 50/50 between a zero hours contract with one client and dividends from my business for all others

  • @cplw, was her turnover £50k+ or profit? It's based on avg profit over last 3 years. Martin Lewis is covering all of this on his show tonight on ITV at 20:30.

  • Same situation. Just burning through my ‘war chest’.

    Which is what it is for.

    Am I bummed? Yes. Do I think the govt. should bank roll me? Not really.

    I think it was right for the govt. to help those who ‘subsist’ on self employed work, who couldn’t be expected to be able to protect themselves in a situation like this.

  • Keep your head up @amey, declare more income though next time.

  • Yeah, that sucks.

    The idea you 'do not use the NHS, do not use state education" is a terrible philosophy. You do either through your employees or the employees of the business you supply services for.

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Freelance /self employed panic thread

Posted by Avatar for Chalfie @Chalfie