hibs.net Messageboard

Page 3 of 5 FirstFirst 12345 LastLast
Results 61 to 90 of 145

Thread: Self employed

  1. #61
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by marinello59 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Surely that only applies to those paying themselves through a limited company. Which means they are employed and their PAYE wage is already covered if they put themselves on furlough.
    I think there are 2 things being confused here.

    Self-employed people don't pay dividends, as you say. But there is an issue with those who have a one-person Limited Company, and who might define themselves as s/e. They normally pay themselves a low salary, at the NI threshold, and take the rest of their money as dividends.

    They can furlough themselves, but the most they will receive from HMRC is about £575 per month. That's obviously not enough, which is where the suggestion that their help should be based on dividends comes from.

    That, in itself, is fraught with difficulty, but it does make some sense.


  2. Log in to remove the advert

  3. #62
    @hibs.net private member The Modfather's Avatar
    Join Date
    May 2004
    Location
    Edinburgh
    Age
    34
    Posts
    2,835
    Quote Originally Posted by easty View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Aye, harsh.

    The bit in bold, that you posted, infers that it happens. Nobody is saying you do it, absolutely nobody. Guy makes a joke and you call him a twat.

    Harsh.

    I've plenty mates who are struggling self employed just now, some do, some don't do the books right. They're all struggling.

    If you think my post is crap...ignore it, or block me, I don't care.
    Out of interest, what/how is it they do with their books?

  4. #63
    @hibs.net private member easty's Avatar
    Join Date
    Jul 2004
    Location
    Edinburgh
    Age
    36
    Posts
    9,087
    Gamer IDs

    PSN ID: hibee_easty
    Quote Originally Posted by The Modfather View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Out of interest, what/how is it they do with their books?
    I dunno, it's not me doing it. I am and always have been PAYE.

    I'm not sure what point you're trying to make, and I think you know exactly what I mean.

  5. #64
    @hibs.net private member Ozyhibby's Avatar
    Join Date
    May 2002
    Location
    Edinburgh
    Posts
    19,592
    Quote Originally Posted by easty View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I'm not sure what this has to do with my post to be honest, but I agree with you. I've never suggested otherwise.

    Further, I absolutely think the government has been too slow to act with helping out the self-employed.
    I was agreeing with you and adding another point of my own.


    Sent from my iPhone using Tapatalk

  6. #65
    ADMIN marinello59's Avatar
    Join Date
    Mar 2005
    Location
    I still live in hope.
    Posts
    30,709
    Blog Entries
    1
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I think there are 2 things being confused here.

    Self-employed people don't pay dividends, as you say. But there is an issue with those who have a one-person Limited Company, and who might define themselves as s/e. They normally pay themselves a low salary, at the NI threshold, and take the rest of their money as dividends.

    They can furlough themselves, but the most they will receive from HMRC is about £575 per month. That's obviously not enough, which is where the suggestion that their help should be based on dividends comes from.

    That, in itself, is fraught with difficulty, but it does make some sense.


    Yes, I get that.
    When the Government is struggling with the technical aspects of this though it is going to be easy for them to leave those of us who used a Ltd company in limbo as they point out that that dividends were used to avoid paying NI.
    By the way, I’m not saying that is the correct course of action for them to take.��
    Every gimmick hungry yob,
    Digging gold from rock and roll
    Grabs the mic to tell us,
    He'll die before he's sold.

  7. #66
    @hibs.net private member The Modfather's Avatar
    Join Date
    May 2004
    Location
    Edinburgh
    Age
    34
    Posts
    2,835
    Quote Originally Posted by easty View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I dunno, it's not me doing it. I am and always have been PAYE.

    I'm not sure what point you're trying to make, and I think you know exactly what I mean.
    I was genuinely curious about what your mates did/do.

    Iím now through an Umbrella company (not through choice) so itís academic to me now. However previously I did my own returns, and while I tried to manage things as smartly and tax efficiently as possible. I donít see how I could ďfiddleĒ the books as such. Might be different for those who work cash in hand.

  8. #67
    @hibs.net private member easty's Avatar
    Join Date
    Jul 2004
    Location
    Edinburgh
    Age
    36
    Posts
    9,087
    Gamer IDs

    PSN ID: hibee_easty
    Quote Originally Posted by The Modfather View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I was genuinely curious about what your mates did/do.

    Iím now through an Umbrella company (not through choice) so itís academic to me now. However previously I did my own returns, and while I tried to manage things as smartly and tax efficiently as possible. I donít see how I could ďfiddleĒ the books as such. Might be different for those who work cash in hand.
    Under report income.

  9. #68
    Quote Originally Posted by Billy Whizz View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Suggestion doing the rounds, that the self employed maybe evaluated on the dividends they pay themselves
    Should all become clearer tonight
    Self employed people cannot pay themselves dividends.

  10. #69
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by marinello59 View Post
    This quote is hidden because you are ignoring this member. Show Quote


    Yes, I get that.
    When the Government is struggling with the technical aspects of this though it is going to be easy for them to leave those of us who used a Ltd company in limbo as they point out that that dividends were used to avoid paying NI.
    By the way, Iím not saying that is the correct course of action for them to take.��
    Sorry, my response was more for Billy than you. Sorry if it sounded like I was teaching my auntie how to suck eggs, or whatever it is 😆

  11. #70
    @hibs.net private member Billy Whizz's Avatar
    Join Date
    May 2002
    Location
    Edinburgh
    Age
    58
    Posts
    31,444
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Sorry, my response was more for Billy than you. Sorry if it sounded like I was teaching my auntie how to suck eggs, or whatever it is 😆
    Thanks CWG

  12. #71
    ADMIN marinello59's Avatar
    Join Date
    Mar 2005
    Location
    I still live in hope.
    Posts
    30,709
    Blog Entries
    1
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Sorry, my response was more for Billy than you. Sorry if it sounded like I was teaching my auntie how to suck eggs, or whatever it is 😆
    No need to apologise, you are the expert.
    Every gimmick hungry yob,
    Digging gold from rock and roll
    Grabs the mic to tell us,
    He'll die before he's sold.

  13. #72
    @hibs.net private member lord bunberry's Avatar
    Join Date
    Jul 2008
    Location
    edinburgh
    Posts
    15,051
    The support for self employed people is coming through income support. Having just checked, that benefit is means tested. Does anyone know if thatís the case?

    United we stand here....

  14. #73
    @hibs.net private member Moulin Yarns's Avatar
    Join Date
    Apr 2002
    Location
    Spinning a Yarn
    Posts
    15,334
    Quote Originally Posted by Liam6270 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Is it 80% of what self employed hide or actually tell the taxman?
    Well that's me screwed.

    Not made an operating profit for any of the last three years as self employed.
    They tried to bury us, they didn't realise we were seeds.

  15. #74
    Administrator BroxburnHibee's Avatar
    Join Date
    Jan 2005
    Location
    Erm...........................
    Age
    52
    Posts
    10,796
    Gamer IDs

    Gamertag: CoolHibeesdaft PSN ID: Hibeesdaft
    Having to wait until June is gonna put me under pressure
    Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, vodka in the other, body thoroughly used up, totally worn out and screaming, "WOO HOO what a ride!"

  16. #75
    So in order to get money in June my business needs to still be operating in June? If I'm not out earning by then, I've no chance.

  17. #76
    Testimonial Due Hibby Bairn's Avatar
    Join Date
    Aug 2009
    Location
    Edinburgh
    Posts
    2,349
    I donít see the reason behind delaying 4 weeks to allow people who havenít ďyet filed their Jan tax returnĒ be allowed to participate.

    If you have filed then easy to calculate so pay now. If you havenít then thatís your problem so youíll have to wait.

  18. #77
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by Hibby Bairn View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I don’t see the reason behind delaying 4 weeks to allow people who haven’t “yet filed their Jan tax return” be allowed to participate.

    If you have filed then easy to calculate so pay now. If you haven’t then that’s your problem so you’ll have to wait.
    I don't think that's what they're saying.

    Those who haven't yet filed their 2019 Returns have 4 weeks to file, otherwise they won't get anything.

    IMO, the delay until June is more about getting the systems in place, and the money of course.
    Last edited by CropleyWasGod; 26-03-2020 at 06:29 PM.

  19. #78
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by lord bunberry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    The support for self employed people is coming through income support. Having just checked, that benefit is means tested. Does anyone know if thatís the case?
    It's means-tested in the sense that it's based on your last 3 years' income.

  20. #79
    @hibs.net private member lord bunberry's Avatar
    Join Date
    Jul 2008
    Location
    edinburgh
    Posts
    15,051
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    It's means-tested in the sense that it's based on your last 3 years' income.
    Will they take in to account how much my partner is earning as thatís the normal way of calculating income support.

    United we stand here....

  21. #80
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by lord bunberry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Will they take in to account how much my partner is earning as that’s the normal way of calculating income support.
    It's not income support.

    As far as I understand it,(and it is early days, in my defence ) it's based on only your income.

    And it's taxable.

  22. #81
    I filed for 17/18 & 18/19 in January but havenít actually paid my bill yet, Iím thinking this will mean I wonít be eligible for this scheme.

  23. #82
    @hibs.net private member Ozyhibby's Avatar
    Join Date
    May 2002
    Location
    Edinburgh
    Posts
    19,592
    Quote Originally Posted by Keyser Sauzee View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I filed for 17/18 & 18/19 in January but havenít actually paid my bill yet, Iím thinking this will mean I wonít be eligible for this scheme.
    I doubt it. So long as you have filed your accounts then thatís all that counts.


    Sent from my iPhone using Tapatalk

  24. #83
    Administrator BroxburnHibee's Avatar
    Join Date
    Jan 2005
    Location
    Erm...........................
    Age
    52
    Posts
    10,796
    Gamer IDs

    Gamertag: CoolHibeesdaft PSN ID: Hibeesdaft
    Its backdated so I'm assuming the June payment will be the first 3 months
    Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, vodka in the other, body thoroughly used up, totally worn out and screaming, "WOO HOO what a ride!"

  25. #84
    Quote Originally Posted by Ozyhibby View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I doubt it. So long as you have filed your accounts then thatís all that counts.


    Sent from my iPhone using Tapatalk
    Iím hoping so, although I do have quite a big bill for late fees for 17/18 which Iím hoping wonít impact me.

  26. #85
    @hibs.net private member lord bunberry's Avatar
    Join Date
    Jul 2008
    Location
    edinburgh
    Posts
    15,051
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    It's not income support.

    As far as I understand it,(and it is early days, in my defence ) it's based on only your income.

    And it's taxable.
    I mustíve picked him up wrong, I thought he said it would be paid through the income support benefit. Itís good to that Iím wrong again

    United we stand here....

  27. #86
    @hibs.net private member Billy Whizz's Avatar
    Join Date
    May 2002
    Location
    Edinburgh
    Age
    58
    Posts
    31,444
    Quote Originally Posted by BroxburnHibee View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Its backdated so I'm assuming the June payment will be the first 3 months
    Said youíd get all 3 payments in a oner in June

    Martin Lewis is discussing this tonight on his show, 8.30pm on STV

  28. #87
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by Keyser Sauzee View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Iím hoping so, although I do have quite a big bill for late fees for 17/18 which Iím hoping wonít impact me.
    The chances are they will deduct what you are due them before they pay you anything. That's HMRC's normal way of doing things.

  29. #88
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by lord bunberry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I mustíve picked him up wrong, I thought he said it would be paid through the income support benefit. Itís good to that Iím wrong again
    In your defence, I think it's confusing, as it's called Self-employment Income Support

  30. #89
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    The chances are they will deduct what you are due them before they pay you anything. That's HMRC's normal way of doing things.
    So if my outstanding bill is bigger than what I would be eligible for then Iím likely to get nothing?

  31. #90
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    23,448
    Quote Originally Posted by Keyser Sauzee View Post
    This quote is hidden because you are ignoring this member. Show Quote
    So if my outstanding bill is bigger than what I would be eligible for then Iím likely to get nothing?
    In the normal course of things, yes.

    But these are not normal times.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
hibs.net ©2012 All Rights Reserved