Government Help For Self Employed Workers

[Rough Hewn]

Just spoke to the local council about grants and loans.
I don't have a premises which is business rateable.
They recommended I go to a food bank.

[Big J]

17 minutes ago, Rough Hewn said:

Just spoke to the local council about grants and loans.
I don't have a premises which is business rateable.
They recommended I go to a food bank.

That's just ridiculous. 

 

Just think how HMRC would react if you said you were delaying paying your tax bill for three months? And yet when you need their money to keep trading, well it's three months and you've got a food bank for the intervening period  

[trigger_andy]

Just now, Big J said:

That's just ridiculous. 

 

Just think how HMRC would react if you said you were delaying paying your tax bill for three months? And yet when you need their money to keep trading, well it's three months and you've got a food bank for the intervening period  

What would happen f you delayed paying them for 3 months? I thought they'd just add interest? Its what happens in Norway. 

[Big J]

1 minute ago, trigger_andy said:

What would happen f you delayed paying them for 3 months? I thought they'd just add interest? Its what happens in Norway. 

5% penalty plus interest. 

 

They also don't take kindly to repeated 'offending'.

[trigger_andy]

1 minute ago, Big J said:

5% penalty plus interest. 

 

They also don't take kindly to repeated 'offending'.

I guess we dont need to think about it much more then as we have the answer.  

[Rough Hewn]

Just spoken to hmrc.
No help coming.

[Big J]

Just now, trigger_andy said:

I guess we dont need to think about it much more then as we have the answer.  

True!

 

I must admit that my initial statement was a touch hyperbolic! ?

[tree-fancier123]

2 minutes ago, Rough Hewn said:

Just spoken to hmrc.
No help coming.

well as you know the payment on account tax for self employed can now be deferred til next Jan, like an interest free loan. You would normally put some money aside to pay the tax bill in July?

And if your main income was self employed for last three years, even if you've been investing you must surely have declared a profit of at least £10000 - £15000 after annual investment allowance and expenses? So you should be contacted by them and be eligible for 80% of your average monthly profits x 3 in June. Stack shelves for a few weeks. I mean you're being a bit fussy - oh no it must be with chainsaws or nothing. Just do anything to survive. Then back to what you want to do when things pick up.

[trigger_andy]

On 02/04/2020 at 09:00, struie said:

hey andy,how u.we used to get a percentage of tax back when i worked on the ekofisk field,mind you that was back in the early eighties, sedco.

I think that was all to do with double taxation? Or maybe as they took an automatic 50% tax on bonuses and at the end of the Tax Year you should get a percentage back if your earnings dont push you into the next bracket up. Im a flat 46% now and even paying 50% on my bonus and OT I still have some to pay back this year. Hopefully I'll get the work to cover it. Should be fine though. 

 

Ekofisk now has the worlds largest off-shore hotel. Its amazing, 700 single man cabins. Its like a Cruise Ship inside. 

[struie]

32 minutes ago, trigger_andy said:

I think that was all to do with double taxation? Or maybe as they took an automatic 50% tax on bonuses and at the end of the Tax Year you should get a percentage back if your earnings dont push you into the next bracket up. Im a flat 46% now and even paying 50% on my bonus and OT I still have some to pay back this year. Hopefully I'll get the work to cover it. Should be fine though. 

 

Ekofisk now has the worlds largest off-shore hotel. Its amazing, 700 single man cabins. Its like a Cruise Ship inside. 

hey andy.how u.i seen it once,we were down their on the omega,it was bloody enormous,noggys certainly know how to look after the work force,we were gettin 1 in 1out back in 1984,worst i experienced was on beryl,5of us,deck crew,in 1 cabin,fckn shite after the omega,couldny get a chug in piece,  waiten for everybody else to nod off?