No Covid help.
Discussion
Anyone know the guidelines on the various schemes going as it seems I'm entitled to diddly.Bit of background.I was PAYE for 30 years then went self employed in Jan 2019.Been onto Gov website and filled in my details but it says no entitlement for anything.Trouble is it doesn't really explain why.Any help advice would be appreciated as it's no fun but the 1% of the 1%.
Bounce back loan. Max 25% of annual turnover. If you have a business bank account it can be approved in days.
https://www.moneysavingexpert.com/news/2020/05/sma...
https://www.moneysavingexpert.com/news/2020/05/sma...
I'm in a similar position:
For 20 years I had a PAYE job, while also being self-employed in the evenings and weekends. Self assessment done every year, and extra tax paid.
I quit my last PAYE job in September 2018 to go full time self-employed.
2018/19 tax return was 45% self-employed income, 55% PAYE and a small company pension, so I get nothing.
2019/20 tax return will be 70% self-employed income, 30% pension.
I've got some savings, so not entitled to benefits.
The phone didn't ring once during the first 6 weeks of lockdown, so no income.
Having to dip into savings to eat, etc., because my pension only just covers the basic bills (luckily the mortgage is paid off).
Meanwhile, some self-employed people are still able to work as normal, but cop for the full grant.
I'm not going to starve, and there are plenty out there in a worse position than me. We will all end up paying higher taxes though, and that's what really bugs me.
For 20 years I had a PAYE job, while also being self-employed in the evenings and weekends. Self assessment done every year, and extra tax paid.
I quit my last PAYE job in September 2018 to go full time self-employed.
2018/19 tax return was 45% self-employed income, 55% PAYE and a small company pension, so I get nothing.
2019/20 tax return will be 70% self-employed income, 30% pension.
I've got some savings, so not entitled to benefits.
The phone didn't ring once during the first 6 weeks of lockdown, so no income.
Having to dip into savings to eat, etc., because my pension only just covers the basic bills (luckily the mortgage is paid off).
Meanwhile, some self-employed people are still able to work as normal, but cop for the full grant.
I'm not going to starve, and there are plenty out there in a worse position than me. We will all end up paying higher taxes though, and that's what really bugs me.
Made redundant last July,back self employed since,no hand outs,but never had any in 38 years,does seem bit unfair that the self employed grants,furlough scheme for business isnt more means' tested,we all be paying it back seen some guy furloughed from week day job looking for week end work,doesn't seem right
moonigan said:
Bounce back loan. Max 25% of annual turnover. If you have a business bank account it can be approved in days.
https://www.moneysavingexpert.com/news/2020/05/sma...
Could do I suppose but reluctant to add another cost to my future monthly outgoings.Sounds greedy but was hoping for something that wasn't repayable.Instead I'm gonna get lumbered with paying back everyone else handouts via higher taxes.https://www.moneysavingexpert.com/news/2020/05/sma...
ghamer said:
Could do I suppose but reluctant to add another cost to my future monthly outgoings.Sounds greedy but was hoping for something that wasn't repayable.Instead I'm gonna get lumbered with paying back everyone else handouts via higher taxes.
Its 100% underwritten by the goverment and you dont pay anything back for 12 months. If you need money then this is the only option. My wife is self employed and couldnt get any of the free money but has taken this to pay off some of her debt and to buy stock for when she can start back.moonigan said:
Bounce back loan. Max 25% of annual turnover. If you have a business bank account it can be approved in days.
https://www.moneysavingexpert.com/news/2020/05/sma...
If you're self-employed, then isn't this just a personal loan?https://www.moneysavingexpert.com/news/2020/05/sma...
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