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3 of our most senior figures came down with it yesterday, yet over half the population is expected to work. We  need a stricter lockdown policy. Many workers are asked to work that are not really needed. 

When all this nightmare is over! I would be braying on China, s door demanding answers. 

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4 minutes ago, Shaytrev said:

My accounts are up to date, the point is trying to register online. To be specific:

You try to register and start with your details, they then send you a code on your mobile phone to confirm your email address, you enter the code and the website tells you the code is invalid. I did this eight times then had to give it up before my blood pressure went through the roof.

Anyway, there are thousands worse than me and I have cooled off a bit now. Will try again this weekend.

I hate the government gateway. Never seems to work when you desperately need it to. I used to file tax returns online but went back to sending paper ones in because there were always issues with the online service - and this is someone who worked at HMRC!

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The offered help for self employed only goes so far. There are many , like me, who are one man bands but who run their business through a limited company. The downside of this is we tend to the bulk of our income as dividends instead of salary. The government solution does not cater for anyone who is working in this manner, as you cannot effectively lay yourself off, and if you do it is 80% of very little, this would give me an average monthly income is £574. As other users have already said Universal Credit would not solve the problem.

I am fortunate in that I can still do the vast majority of my work from home via conf calls and email. I am also fortunate in the 100% of my income comes from NHS organisations, so I have no worries about my customers being shut down and unable to pay me. What I do have a concern with is that due to the 100% attention being paid to the Covid 19 situation that nearly all development of new clinical systems is being mothballed, so in 6-9 months there will not be the new projects available we would be expecting to be coming on stream. So it will be at the back end of the year when I have a potential hole in my income.

For now I have enough in the bank to see me through, but this is money that has been put aside for my impending retirement. So as usual I will be self-funding rather than being given any of the fantastic "grants" being offered to all and sundry.

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2 minutes ago, ITMAN said:

The offered help for self employed only goes so far. There are many , like me, who are one man bands but who run their business through a limited company. The downside of this is we tend to the bulk of our income as dividends instead of salary. The government solution does not cater for anyone who is working in this manner, as you cannot effectively lay yourself off, and if you do it is 80% of very little, this would give me an average monthly income is £574. As other users have already said Universal Credit would not solve the problem.

I am fortunate in that I can still do the vast majority of my work from home via conf calls and email. I am also fortunate in the 100% of my income comes from NHS organisations, so I have no worries about my customers being shut down and unable to pay me. What I do have a concern with is that due to the 100% attention being paid to the Covid 19 situation that nearly all development of new clinical systems is being mothballed, so in 6-9 months there will not be the new projects available we would be expecting to be coming on stream. So it will be at the back end of the year when I have a potential hole in my income.

For now I have enough in the bank to see me through, but this is money that has been put aside for my impending retirement. So as usual I will be self-funding rather than being given any of the fantastic "grants" being offered to all and sundry.

Personally I don't have much sympathy with people who pay themselves by dividends rather than salary as a means of avoiding NIC. They haven't paid as much into the system. They can't have it both ways!

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On 3/25/2020 at 4:53 PM, TommyH72 said:

Especially for the Non Believers:-

Coronavirus: Woman, 21, believed to be UK's youngest to die with no health conditions

Young Girl.jpg

Especially for believers.

https://www.theguardian.com/world/2020/mar/27/chloe-middleton-death-21-year-old-not-recorded-nhs-covid-19-related?CMP=share_btn_fb&fbclid=IwAR0p_A-unLMo5qjw9egoYKzNoTBnk-QtD_2_1Y-rWnYWTv58t-wIkQpeCuE

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34 minutes ago, Hands Off The Shay said:

Personally I don't have much sympathy with people who pay themselves by dividends rather than salary as a means of avoiding NIC. They haven't paid as much into the system. They can't have it both ways!

Not quite true, as I pay 19% corporation tax on my profits, plus 7.5% tax on any dividends. Yes, I avoid paying NIC's but at the sametime I do not get sick pay/holiday pay, and when you add up the aforementioned taxes I probably pay nearly as much as most employees. In terms of the tax allowances etc I have the same as everyone else. On top of this I also have the task of paying and collecting VAT, which if done incorrectly costs me a fine. For those with 9-5 jobs and a monthly salary they do not have this problem, nor do they have the overheads such as paying for accountants, liability insurance etc. Yes, there are some financial benefits but these are nowhere near as large as people seem to think they are, plus every budget seems to bring another tax or reduction in allowances which is aimed at forcing anyone with entrepreneurial ambitions or who wants to be their own boss, back into the ranks of the salaried many.   

Working through a limited company is the only choice if you want to work as a contractor in most IT related sectors as you will not have much luck trying to win tenders if you are a sole trader, and you would also not want to leave yourself open to the risks that a sole trader has when it comes to any situation where your home could be at risk, should you run into financial difficulties. 

I personally, am not looking for or expecting any assistance, but there will be others who will be living hand to mouth if they have nothing coming in before June. 

 

Edited by ITMAN
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2 minutes ago, ITMAN said:

Not quite true, as I pay 19% corporation tax on my profits, plus 7.5% tax on any dividends. Yes, I avoid paying NIC's but at the sametime I do not get sick pay/holiday pay, and when you add up the aforementioned taxes I probably pay nearly as much as most employees. In terms of the tax allowances etc I have the same as everyone else. On top of this I also have the task of paying and collecting VAT, which if done incorrectly costs me a fine. For those with 9-5 jobs and a monthly salary they do not have this problem, nor do they have the overheads such as paying for accountants, liability insurance etc. Yes, there are some financial benefits but these are nowhere near as large as people seem to think they are, plus every budget seems to bring another tax or reduction in allowances which is aimed at forcing anyone with entrepreneurial ambitions or who wants to be their own boss, back into the ranks of the salaried many.   

Working through a limited company is the only choice if you want to work as a contractor in most IT related sectors as you will not have much luck trying to win tenders if you are a sole trader, and you would also not want to leave yourself open to the risks that a sole trader has when it comes to any situation where your home could be at risk, should you run into financial difficulties. 

I personally, am not looking for or expecting any assistance, but there will be other who will be living hand to mouth if they have nothing coming in before June. 

 

All I care about is flattening the curve & slowing these death rates down. Everything else is irrelevant. 

The Government has helped people the best way it can in these sad & difficult times. It won't appeal to everyone. 

We just have to deal with it, the best we can. 

My heart goes out to anyone who has lost loved ones... 

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1 hour ago, Shaytrev said:

My accounts are up to date, the point is trying to register online. To be specific:

You try to register and start with your details, they then send you a code on your mobile phone to confirm your email address, you enter the code and the website tells you the code is invalid. I did this eight times then had to give it up before my blood pressure went through the roof.

Anyway, there are thousands worse than me and I have cooled off a bit now. Will try again this weekend.

 

Ha! Yes it's all the effing trawling through passwords etc mothers maiden game, inside leg measurement etc! Does my head in.

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37 minutes ago, Shaytrev said:

And now it turns out it was not the virus, but a heart attack! Her aunt was responsible for posting the lie it was corona related.

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12 minutes ago, chrisbo61 said:

Ha! Yes it's all the effing trawling through passwords etc mothers maiden game, inside leg measurement etc! Does my head in.

I managed to get through the lot this morning until the last part, verifying who I am. All details in again, click.

Moments later.

We cannot verify who you are.

I haven't a clue what you are supposed to do next, that is all it told me.

I think I'll give up on that today.

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16 minutes ago, Steve Lanzarote said:

Cases in Lanzo gone from 4 cases to 35 in 4 days 31 active 3 dead 1 recovered 11 ecu 2 hopital isolation (poorly) 18 home isolation.

You need to be very careful Steve!

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26 minutes ago, chrisbo61 said:

And now it turns out it was not the virus, but a heart attack! Her aunt was responsible for posting the lie it was corona related.

The absolute hysteria and blind panic brought around with this lie and newspaper headlines should hope all involved would be punished somehow 

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Like hoddie I worked for HMRC and despite what people say a lot of self employed / Company directors live through their businesses  and as such pay a lot less into the system than anyone on PAYE. I examined tax returns for over twenty years and the amounts some people lived on compared to their lifestyle  was pure  fiction.

The government's  relief  measures will bite them back ie someone  making say £24000 but only showing £12000 profit on his tax return would only £800 pm instead  of £16000 pm if been honest, but think of all the Tax/NIC they've  saved in all the years of underdeclaring

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32 minutes ago, chrisbo61 said:

And now it turns out it was not the virus, but a heart attack! Her aunt was responsible for posting the lie it was corona related.

Not a shock. When I first read that story I immediately thought it probably wouldn’t be true. Classic case of the media (including the BBC) just reporting something without any sort of proof it’s true - and you can bet they won’t be reporting the fact they were wrong, so for most people they will still be reciting to all their friends that a healthy 21 year old died of it.

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1 minute ago, hunsworthhound said:

Like hoddie I worked for HMRC and despite what people say a lot of self employed / Company directors live through their businesses  and as such pay a lot less into the system than anyone on PAYE. I examined tax returns for over twenty years and the amounts some people lived on compared to their lifestyle  was pure  fiction.

The government's  relief  measures will bite them back ie someone  making say £24000 but only showing £12000 profit on his tax return would only £800 pm instead  of £16000 pm if been honest, but think of all the Tax/NIC they've  saved in all the years of underdeclaring

Absolutely, one of the frivolous arguments often put forward by those promoting this method was that they were better placed than the government to plan their own future finances. It's obviously a genuine way to do business - as ITMAN says, most public organisations and big business won't deal with a sole trader and a Ltd Co is one of few other options - but it is also widely abused as some high-profile figures have found out to their cost.

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4 hours ago, hunsworthhound said:

Like hoddie I worked for HMRC and despite what people say a lot of self employed / Company directors live through their businesses  and as such pay a lot less into the system than anyone on PAYE. I examined tax returns for over twenty years and the amounts some people lived on compared to their lifestyle  was pure  fiction.

The government's  relief  measures will bite them back ie someone  making say £24000 but only showing £12000 profit on his tax return would only £800 pm instead  of £16000 pm if been honest, but think of all the Tax/NIC they've  saved in all the years of underdeclaring

The average working man isn't the Tax Fiddler in this Nation. It is the ones with bank accounts in places like Panama and The British Virgin Isles. I do not think many builders fly to those places for a cosy chat with the Bank Manager very often but we know what section of society do.

Edited by Shaytrev
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1 minute ago, JRW said:

She actually died of a heart attack and NOT the virus

Yes, that is why I posted it. We had been wrongly informed.

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15 minutes ago, Shaytrev said:

The average working man isn't the Tax Fiddler in this Nation. It is the ones with bank accounts in places like Panama and The British Virgin Isles. I do not think many builders fly to those place for a cosy chat with the Bank Manager very often but we know what section of society do.

Trouble is trev, our accountants spend a lot of time being creative with taxable earnings! It's why we pay them, it's only when something like this happens it makes it awkward!

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8 minutes ago, chrisbo61 said:

Trouble is trev, our accountants spend a lot of time being creative with taxable earnings! It's why we pay them, it's only when something like this happens it makes it awkward!

Yes but that is why Governments have you paying tax on petrol,beer, cigarettes etc etc, the revenue from them more than makes a difference from the working man.

Edited by Shaytrev

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Just got today's post from the Halifax bank.  Changing the terms of the current account.  Without going into the complicated details I think it will cost the not so well off money.  They can do what they like I suppose and may need to but it seems like bad timing.

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Fact is we are in a national emergency, nay worldwide emergency.

No other U.K. government has had to deal with this particular emergency. No other U.K. government has stopped the economy and tried to pay everyone 80% of their earnings, at the same time keep parts of the economy going and other parts going at full steam to keep us safe. Achieving all those things all at the same time when they have never been done before will not be 100% successful, it’s impossible to expect that. There has been some pretty remarkable things done, not least of all the 80% wage funding, that’s amazing. How normality is achieved and how quickly will be the next massive challenge. Then how the state pays for it, or really how we pay for it will be biggest challenge. But that is all to come, we have to live with the virus as best can now, there is no cure or vaccine for it so is here to stay for now.

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19 minutes ago, Lester said:

Just got today's post from the Halifax bank.  Changing the terms of the current account.  Without going into the complicated details I think it will cost the not so well off money.  They can do what they like I suppose and may need to but it seems like bad timing.

I think I got something regarding terms of account from Lloyds a few weeks back, about 50 pages in small print, I wont live long enough to read it, even my reading glasses broke as I tried and a lens fell out.

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