loss of earnings?????

[Fencing]

Hi there, i wonder if anyone can help?

 

A few months ago my truck was hit in the back, causing about £700 worth of damage.

 

Did all the insurance stuff, got the truck fixed, and am in the process of claiming back the costs (excess, loss of earnings etc)

 

I filled in the forms, included the receipt from my garage for the excess, but we've hit a hitch with the loss of earnings.

 

The truck was off the road for 2 days, so i took my daily rate £150 x 2 (£300), put that down. My solicitor is asking me to prove that that's my earnings. They want audited accounts for the last 3 years. I cant do that as im a sole trader, no worries then they said, 3 years tax returns? I said that does not reflect my earnings because the tax i pay is based on the turnover less business costs.

 

I always calculate my tax liability and where possible buy equipment, plant etc to minimise my liability and improve my business.

 

They are saying i need to prove my earnings, how can i do this?

[likeitorlumpit]

turnover divided by 230 should do it provided you haven't used lots of materials.

I'm sure the insurance company understands that you need to be compensated loss of income to the business but don't expect too much as you could have hired a truck for the 2 days and still been earning.

[Fencing]

That wont work,,, im a fencing contractor and looking at about 50/50 materials labour, also, the last 3 years official tax return is 18months ago we are doing way better now.

 

 

its a posser!

[Mortimer Firewood]

Give your books to the insurance company they will pass them on to a specialist team who can work it out for you its all done fairly i nearly fell over when i got my loss of earnings claim after an accident.

[Pumpy]

what about a copy of your invoices detailing your daily rate?

[Lyn Ed]

A woman went into the back of my chipper last december, her insurance paid for damage to the chipper and for chipper hire while mine was being repaired, they also paid for my loss of earnings for that day, have you had loads of phonecalls yet asking if you want to claim for neck injury, i`m still getting them.