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Anyone else not happy with 80% of profit payments to self employed, as this only covers sub contractors and not a one man band with overheads.
Discuss Coronavirus self employed payment in the Electricians Chat - Off Topic Chat area at ElectriciansForums.net
I think it does. There was no mention today of being a subby, or a one man band.Anyone else not happy with 80% of profit payments to self employed, as this only covers sub contractors and not a one man band with overheads.
I think it covers sole traders, add the payment to ya 20/21 returns deduct any overheads/running costs pay tax on what’s left....seems fair except the June bit!Anyone else not happy with 80% of profit payments to self employed, as this only covers sub contractors and not a one man band with overheads.
I doubt it, I’ll be bankrupt by the time the economy picks up again. I won’t have money to pay part p or my van, so I will have to cease trading.profit is income minus expenses, so I see what you’re saying. We are expected to pay those expenses out of the 80% of the profit govt will give us.
I’m sure it will all straighten out come jan 2021
So tell me, I have a van £250 month, part p payment £550 van tax insurance, liability insurance tool insurance of which all comes out monthly, 80% of profit doesn’t take that into account.
if you are a sub contractor you don’t have to pay out for anything like a 1 man band to run a business.
it’s not a true reflection of profits for a company.
My Mrs has neurological problems and she can’t work anymore, it’s been a tough 10 years with the recession and Brexit putting a hold on things, the Mrs getting worse now this. ---- it all, I’ve just about had it.I think it does. There was no mention today of being a subby, or a one man band.
I’m a one man band, with wife on backing vocals.
I’d be happy with 80%, but as my profit hasn’t been brilliant last 2 years anyway, I’m not expecting much.
Mate all I can I say is it’s s£&t for all of us but if you’ve been strong enough to cope with that and run a business I’m sure you are the sort of person to come through it and good luck ?My Mrs has neurological problems and she can’t work anymore, it’s been a tough 10 years with the recession and Brexit putting a hold on things, the Mrs getting worse now this. ---- it all, I’ve just about had it.
Cheers mate, I’ve been through a lot more, I won’t bore you.Mate all I can I say is it’s s£&t for all of us but if you’ve been strong enough to cope with that and run a business I’m sure you are the sort of person to come through it and good luck ?
Yeah Boris said we have asked you to stop work and we are paying you to stay at home, he ain’t paying to keep my business in limbo like he has all those big corporate organisations.It's OK for them to say wait till June July or next year, I'm in the same boat up orenoco with out a paddle I did not cause this mess so when I'm fit and well I will out and about soon. i can't see this virus ending soon it will be next year before you see the white doves flying over Dover.
My Mrs has neurological problems and she can’t work anymore, it’s been a tough 10 years with the recession and Brexit putting a hold on things, the Mrs getting worse now this. ---- it all, I’ve just about had it.
SC looking at the stitic you are looking at August and beyond. It's not going away soon. Near 5,ooo in Spain do you think it will end tommorow.start working again either next week or the week after.
Bojo has no idea, they are saying if you have had it, don't go to near other peaple and keep a 2 mile radius. If they want me to keep away over the next few months yeah write.
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SC looking at the stitic you are looking at August and beyond. It's not going away soon.
edit.... Mortality rate for adults below 60 = 0.4% (0.004) NOT 4%.I'm happy with 80% of my average profit over the last 3 years. I've declared my earnings properly over the last 3 years so I will get a decent payout. Those who do lots of cash jobs and don't declare them won't and that is fair.
It's a difficult situation, the government has been late in explaining what it plans to do for the self employed but they have at last offered a good package. Now we just need to stay alive to claim it .
Total average chance of staying alive over next few weeks if aged below 60 =
1 - (Chance of catching virus = 60% (0.6) x Mortality rate for adults below 60 = 4% (0.04) )
i.e. 1 - (0.6 x 0.04) = 0.976
Therefore I have a 97.6% chance of staying alive to claim my payout.
I have now scared myself with my silly statistics and am going to drink beer!
SC, has you are aware some self peaple can't wait till June, it's diffrant when they tax man we want your monies that you owe us come Jan. Or why do we need to wait till June that puzzles me, the reason they have not got any staff all automated.
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