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Thread: Self employed

  1. #121
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Moulin Yarns View Post
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    Any idea what happens for people on zero hours contract? Please.
    This is as clear as I can find. From the Guardian:-

    I’m on a zero-hours contract and have been sent home


    The pledge to meet 80% of wages applies to everyone who is on PAYE – that is, taxed before they are paid.

    It is not clear what figure the 80% will be based on. The chancellor, Rishi Sunak, has said it will probably involve some kind of smoothing of earnings – that is to say it could be based on an average of recent weeks’ pay so you are not out of pocket if your last week’s wages were much lower than the previous week’s.


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  3. #122
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    Would it not have been easier and quicker to simply implement some sort of helicopter money policy.

    Simply provide x£ to every household / taxpayer in the country?

    Might have ended up more expensive and of course given something to some that don’t ‘needs it but may well have been much quicker and also ensured less fell through the cracks?

  4. #123
    @hibs.net private member green day's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    A property development company isn't self employment either.
    Fair point, went off piste a bit there

    I was just trotting out the line the taxman uses to stop people claiming certain reliefs as renting out a flat is deemed different from running a property business.

  5. #124
    @hibs.net private member Moulin Yarns's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    This is as clear as I can find. From the Guardian:-

    I’m on a zero-hours contract and have been sent home


    The pledge to meet 80% of wages applies to everyone who is on PAYE – that is, taxed before they are paid.

    It is not clear what figure the 80% will be based on. The chancellor, Rishi Sunak, has said it will probably involve some kind of smoothing of earnings – that is to say it could be based on an average of recent weeks’ pay so you are not out of pocket if your last week’s wages were much lower than the previous week’s.
    Cheers, the situation I'm thinking of is a person working seasonally in a tourist dependent retail environment. They work from Easter to October and covered for full time staff on leave.

    Might only have worked maybe 28 hours in the last month.


    Edit: they are due to start regular work from 13 April, and the employer has confirmed that they will get 80% from that date.
    Last edited by Moulin Yarns; Yesterday at 12:47 PM.

  6. #125
    @hibs.net private member Ozyhibby's Avatar
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    Reading through it all this morning (I was a bit drowsy last night after the hospital) and it looks like I don’t qualify as less than half my income is self employed. No complaints because if everyone else is supported then my business will be ok.


    Sent from my iPhone using Tapatalk

  7. #126
    It now seems that limited company/sole directors can furlough themselves.

  8. #127
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by patch1875 View Post
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    It now seems that limited company/sole directors can furlough themselves.
    Where are you seeing that?

    I have seen arguments, from good sources, for and against.

  9. #128
    @hibs.net private member Billy Whizz's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    Where are you seeing that?

    I have seen arguments, from good sources, for and against.
    I’d be interested to see where that came from too

  10. #129
    Martin Lewis

  11. #130
    Hopefully it’s true the actual gov advice doesn’t seem to say you can’t.

  12. #131
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by patch1875 View Post
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    Hopefully it’s true the actual gov advice doesn’t seem to say you can’t.
    Thanks. I've just watched it.

    I hope HMG do give clarity on this. It's still only £525 per month, but better than nothing which is what some decent sources were suggesting.

  13. #132
    @hibs.net private member KeithTheHibby's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    Thanks. I've just watched it.

    I hope HMG do give clarity on this. It's still only £525 per month, but better than nothing which is what some decent sources were suggesting.
    How do you arrive at that figure CWG?

  14. #133
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by KeithTheHibby View Post
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    How do you arrive at that figure CWG?
    Sorry, it should be £575.

    The common amount for directors' salary in a small company is £719 per month, the NI threshold. It's 80% of that.

    Next month the salary will change to £791, of which 80% is £633.

  15. #134
    @hibs.net private member CropleyWasGod's Avatar
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    For those of you who were contractors, I've just heard of one major company who have decided to defer the IR35 provisions for a year, as now allowed.

  16. #135
    Quote Originally Posted by CropleyWasGod View Post
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    Sorry, it should be £575.

    The common amount for directors' salary in a small company is £719 per month, the NI threshold. It's 80% of that.

    Next month the salary will change to £791, of which 80% is £633.
    I’ve always paid myself about 1k a month so hopefully I might get a bit more.

  17. #136
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by patch1875 View Post
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    I’ve always paid myself about 1k a month so hopefully I might get a bit more.
    As salary?

  18. #137
    3pts away from home - i'm a happy glory hunter. jonty's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    For those of you who were contractors, I've just heard of one major company who have decided to defer the IR35 provisions for a year, as now allowed.
    a bit late for many.


    Spill the beans

  19. #138
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by jonty View Post
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    a bit late for many.


    Spill the beans


    TBH, I think they've got themselves out of a hole. I reckon they started their review of the contractors too late, ran out of time, and got to a point where they said "sod it, you're all employees, and no appeals."

    They now have a year to do a proper status review, and maybe save themselves some money (and some decent contractors) as a result.

  20. #139
    3pts away from home - i'm a happy glory hunter. jonty's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    TBH, I think they've got themselves out of a hole. I reckon they started their review of the contractors too late, ran out of time, and got to a point where they said "sod it, you're all employees, and no appeals."

    They now have a year to do a proper status review, and maybe save themselves some money (and some decent contractors) as a result.
    It might still be too late for them if their contractors have jumped umbrella/paye and closed their companies

    I fortunately managed to avoid that with a contract in public sector, outside ir35. I thought 12 months would be plenty of time to let financial services get their act together. It might not be long enough now

  21. #140
    Quote Originally Posted by CropleyWasGod View Post
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    As salary?
    Yes and a quarterly dividend.

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