Will we Be Getting Any Help??????????

[topchippyles]

Been trying to service my maschine all afternoon  with the lad but my online business in just non stop ?

 

 

Edited March 23, 2020 by topchippyles

[Gardenscape]

Why do most assume that self employed arent declaring? My preferred method of payment is bacs after invoice. It saves hassle and charges for depositing cash at bank and looks better on bank statements when you may need finance or applying for a mortgage. I think you shoot yourself in the foot to not declare your earnings. 

 

But this situation is going to be tough on everyone, but anyone who has their tools on finance I really feel for you. Stay strong and just keep working. ??

[trigger_andy]

Just now, Gardenscape said:

Why do most assume that self employed arent declaring? My preferred method of payment is bacs after invoice. It saves hassle and charges for depositing cash at bank and looks better on bank statements when you may need finance or applying for a mortgage. I think you shoot yourself in the foot to not declare your earnings. 

 

But this situation is going to be tough on everyone, but anyone who has their tools on finance I really feel for you. Stay strong and just keep working. ??

I can only go by the folk Im aware of. 

 

But even doing it by the books you can write off so much, pay way less in NI etc. Its the perks of being self employed right? But with the perks comes the down side I guess?

[eggsarascal]

2 minutes ago, trigger_andy said:

I can only go by the folk Im aware of. 

 

But even doing it by the books you can write off so much, pay way less in NI etc. Its the perks of being self employed right? But with the perks comes the down side I guess?

Yes, there are ups and downs of SE, but wiping out 5 million SE folk because of a world wide pandemic is slightly different to the norm.

[trigger_andy]

Just now, eggsarascal said:

Yes, there are ups and downs of SE, but wiping out 5 million SE folk because of a world wide pandemic is slightly different to the norm.

Absolutely. I hope the government does the right thing by all the SE folk. What that is I dont know? A bridging loan maybe? And a fixed sum to cover living expenses? 

[doobin]

43 minutes ago, trigger_andy said:

Absolutely. I hope the government does the right thing by all the SE folk. What that is I dont know? A bridging loan maybe? And a fixed sum to cover living expenses? 

Most likely a 3 month payment holiday (which your commercial customers will of course avail themselves of too...) and a fiver a week ?

[trigger_andy]

1 minute ago, doobin said:

Most likely a 3 month payment holiday (which your commercial customers will of course avail themselves of too...) and a fiver a week ?

A sizable percentage of SE use creative accounting to pay as little tax as they can, as voiced by some here. Im sure the government will happily return the favour. 

[doobin]

4 minutes ago, trigger_andy said:

A sizable percentage of SE use creative accounting to pay as little tax as they can, as voiced by some here. Im sure the government will happily return the favour. 

I earnt 56k last year. I used the first year capital allowances on a digger (investment in the business) to reduce this to 29k liability. Fair enough? I don't see any employees stumping up that kind of cash or risk.

[topchippyles]

7 minutes ago, doobin said:

I earnt 56k last year. I used the first year capital allowances on a digger (investment in the business) to reduce this to 29k liability. Fair enough? I don't see any employees stumping up that kind of cash or risk.

Reap what you sow the old saying, Anyone who has the balls to go out and spend big money should be earning decent money like 56 k ?

Edited March 23, 2020 by topchippyles

[trigger_andy]

11 minutes ago, doobin said:

I earnt 56k last year. I used the first year capital allowances on a digger (investment in the business) to reduce this to 29k liability. Fair enough? I don't see any employees stumping up that kind of cash or risk.

No vehicle to get to work and pop to the shops? Missus not on the books? 

 

Dont get me wrong, Im not against being self employed, my Bro is and Ive very proud of how well he's done. 

 

Lets just say Im playing devils advocate here, we Im having the same discussions with him. 

 

He's just been made Project Manager at a Hospital in London to help deal with this Rona Crisis. Gonna be a busy boy. Construction side of things.

Edited March 23, 2020 by trigger_andy