“More than half your total income comes from self employment”
Anyone with knowledge of these things know why he included this clause?
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“More than half your total income comes from self employment”
Anyone with knowledge of these things know why he included this clause?
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Thanks CWG, here’s hoping they are lenient with me. Otherwise it’s Universal Credit for me.Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by Thief
From an utterly unknowledgeable place, is it maybe to address people who have an employee job, and also work for themselves in a second job?
such as a lorry driver who does a 4on 4off shift, and on his off days is a self employed landscaper?
The cap is actually higher than PAYE.
Would income from property count in self employed income?
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How do you pay it, through a limited Company?Quote:
Originally Posted by Ozyhibby
I'd doubt it.Quote:
Originally Posted by Ozyhibby
So I’m a limited company with just me as sole director.
This is relevant to me?
Bugger.[emoji35] I suspected so but I was hopeful.Quote:
Originally Posted by CropleyWasGod
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Sole trader.Quote:
Originally Posted by Billy Whizz
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No, it's specifically excluded.Quote:
Originally Posted by patch1875
Hopefully, your situation will be addressed next.
I’m not CWG, so I presume you’re entitlement will be based on your dividend paymentsQuote:
Originally Posted by Ozyhibby
Sorry to say that Directors can’t furlough based on the current announcements.Quote:
Originally Posted by patch1875
Yeah pretty much shafted must be plenty people in the same set up.Quote:
Originally Posted by Global Hibby
Can you though? Doesn’t seem very clear.Quote:
Originally Posted by marinello59
I’d deleted that comment while I tried to check. I would assume you could as effectively you are an employee of the company if you are on the pay roll.Quote:
Originally Posted by patch1875
I don't see why you can't.Quote:
Originally Posted by marinello59
As you say, you're an employee. If you aren't actually working, then it's justifiable to furlough yourself and claim the 80%.
I’d deleted that comment while I tried to check. I would assume you could as effectively you are an employee of the company if you are on the pay roll.Quote:
Originally Posted by patch1875
My hope is that you guys will be next in the queue.Quote:
Originally Posted by patch1875
That said, if sorting out the s/e was complicated, you will be even more so. :greengrin
A wee aside for the s/e. There was a heavy hint today that, if and when we get back to normal, there will be major changes to tax legislation that will not be good news.
Not in the least surprised.Quote:
Originally Posted by CropleyWasGod
Whatever help we get will need to be paid back in some form.
Help.
I’m a director of my own company.
I pay myself a salary as per my accountant.
This is pretty much a basic wage however I actually withdraw from my bank each month considerably more.
When final accounts are done each year and my tax computation is worked out my earnings statement is topped up with dividends.
I was convinced I fell into the self employed bracket but that doesn’t appear to be the case?
See above :greengrinQuote:
Originally Posted by KeithTheHibby
Your situation has yet to be clarified. Hopefully, you will be next.
In today announcement it was stated that directors can not be furloughed as directors have responsibilities to run the company even in like these. There is of course not an issue for that director to seek another job and continue as a director. The news sucks and I am told it’s highly doubtful to be changed....I hope that changes.
Cheers CWG, appreciated.Quote:
Originally Posted by CropleyWasGod
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It definitely doesnt if you mean renting out a flat...............It does if you run your own property development company.Quote:
Originally Posted by Ozyhibby
A property development company isn't self employment either.Quote:
Originally Posted by green day
Does anyone know the 80% is based on net or gross wage
My understanding is that it's gross as you'll then be taxed on it from there - given you're being taxed on a smaller number you'll then end up with slightly more than 80% of your regular net pay.Quote:
Originally Posted by WoreTheGreen
Thanks for your replyQuote:
Originally Posted by danhibees1875
Any idea what happens for people on zero hours contract? Please.