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self-employed help

(279 Posts)
houselikeashed Thu 26-Mar-20 17:33:03

So if my profit is £51k - I get no help from the government?
Is that right?

Randomness12 Thu 26-Mar-20 17:33:45

I think so - not 100% sure however.

Randomness12 Thu 26-Mar-20 17:34:05

Same threshold as child benefit I think?

houselikeashed Thu 26-Mar-20 17:35:53

shit.

Lazypuppy Thu 26-Mar-20 17:36:12

Thats how i understood it

edwinbear Thu 26-Mar-20 17:36:36

Yes, that’s what I understood too.

zsazsajuju Thu 26-Mar-20 17:36:56

Full details have not been announced. But it would seem that way.

JoshArcherStoleMyTractor Thu 26-Mar-20 17:37:19

That's profit not turnover

ChipsAreLife Thu 26-Mar-20 17:38:13

It seems that way which seems so unfair. Given the amount of tax I've paid in over the years and I'm not entitled to anything. Luckily my work has stayed but it will drop off very soon

ChipsAreLife Thu 26-Mar-20 17:39:15

@josh but when you're self employed isn't income tax based on your profit? Even if I don't draw all the money out of my account for 'drawings' I have to pay income tax on it

JoshArcherStoleMyTractor Thu 26-Mar-20 17:39:19

From hmrc

RickSanchez Thu 26-Mar-20 17:39:25

I earn much less than £50,000 but my wage is made up of a small amount of PAYE and topped up with dividends, I guess I'm not eligible for any help then?

houselikeashed Thu 26-Mar-20 17:41:04

that's us utterly stuffed. No income for 3 months+.
But he said people not helped have an income of £200k. That's just not right! Our profit is £51k not £200k.

Lazypuppy Thu 26-Mar-20 17:43:21

Its average, has it been £51k for the past 3 years?

adaline Thu 26-Mar-20 17:43:32

Did they say what would happen if you've been in business less than that amount of time? Do they base it on your employed income?

I've worked full-time for 10+ years but only went self-employed in February. DH similar - worked full-time all his life but only went self-employed in August!

MaxNormal Thu 26-Mar-20 17:44:41

RickSanchez same boat here. Apparently we're falling right through the cracks.
Fucking bastards.

StatisticallyChallenged Thu 26-Mar-20 17:47:58

Adaline the 2019 return seems key for eligibility. So you should be eligible, dh not. I think

houselikeashed Thu 26-Mar-20 17:48:06

Yes, pretty stable around that figure.

RickSanchez Thu 26-Mar-20 17:49:55

There must be hundreds and thousands of company directors in the UK, how can it be possible not to at least address our circumstances?

Lazypuppy Thu 26-Mar-20 17:50:03

@adaline i think you have to have done a tax return to be eligible, its to stop people suddenly saying they are self employed now and claiming the money

OP if your profits are over £50k you won't be eligible.

RickSanchez Thu 26-Mar-20 17:53:35

I've felt pretty sanguine all through this, understanding that there's nothing I can do. Now, I feel like I can't cope with any more.

I formed a limited company only to mitigate my chances of liability due to the industry I'm in, and paid myself in PAYE and dividends because its what my accountant advised as sensible. I don't earn a lot, and have two young children. How the fuck can I not be eligible for anything?

My staff are eligible for 80%, the person I work with who does the same role as self employed (and doesn't declare most of her cash) can claim £2500 per month. I, followed the rules, declare my cash, pay plenty of tax, employ other people.. I get fuck all. Nothing.

ChipsAreLife Thu 26-Mar-20 17:53:44

Yes it seems so. Only those under 50k will get help. Was that the same for employed?!

BlimeyCalmDown Thu 26-Mar-20 17:54:26

I think it is right, I have a few friends who are consultants that don't need to work all year, they earn loads and thought they were going to get a freebie from all this. I'm glad there is a cap.

RickSanchez Thu 26-Mar-20 17:54:29

There's just no point to anything. I am utterly, utterly fucked.

Walkerbean16 Thu 26-Mar-20 17:55:24

Ours are also over 50 but under 60 and we will get nothing. My husband is the sole earner and cant work as merchants are shut.

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