Search results

I wouldn't worry too much about that mate. Earn what you can in that situation.

Bang on.

ML is very good at what he does. But he's not an expert in any way with regard to tax and the self employed. He's way out of his depth. I don't class myself as an expert at all but I know a lot more than him (as do you). What he's suggesting is exactly the type of scam (not that I disagree...

If you haven't then watch the FT video I posted. And good luck.

He means if you're self employed as opposed to a director of your own company then what you can claim is different.

Agree with all of that mate. Yeah it's taxable, as it should be.

No problem and best of luck.

It's not a question of "think". It's not the case. Have a watch of that FT video I posted earlier in the thread as it explains it all. As an aside, one of the most annoying things for accountants is the "my mate said...." conversation. [emoji23]

This.

I don't expect that. It would be economic madness to bump up taxes when the economy is trying to recover from a huge drop. Especially when loads of small businesses will have gone to the wall and loads of new ones will be attempting to start up. It's possible obviously as the government often...

Correct. But as we discussed, 80% of £8700 could be less than UC and the associated benefits. Plus you can already claim it. I didn't actually say that you couldn't claim the 80% btw. The opposite. Just that it's not clear which is the best route to take. And (banging the same drum) every...

If you are on a standard director's salary and take dividends then the advice (provided you aren't working) is to get a UC claim in asap. The difference in money from the company claiming the 80% is minimal but importantly, the mechanism is already in place to claim. Also, UC means the...

It's something to do with finance? Your job I mean. Lol. Re the first point yes, there will be a few salesmen missing payments on their Range Rovers before long. Suppose I can't talk as I have a car on credit but I'm the opposite of leveraged bricks and mortar and credit wise, and it's not a...

It's in China.

You need to watch this.... https://youtu.be/NDhMaIMAx3g Universal Credit may well be a better option than the government compensation schemes if you are Ltd. Discussed at length on the "Self Employed to get 80%" thread also. I guess you have an accountant though and have spoken to them?

Yes but bear in mind it hasn't actually been set up yet.......

There hasn't been anything in the piggy bank for decades. It's about how much more they choose to borrow. Which will be "a **** of a lot".

3 months but "may be extended". Sorry, to be clear that's 3 months from 01/03/20. Info here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme