Coronavirus has ruined all my plans

[Corkiecova]

I am long-term disabled not worked for over 10 years. After a radical treatment last year I had hoped to return to work, self employed at home (all I could do) and was working towards that.

Now the chancellor has announced that with the new package for the self employed contributions for the self employed will equalize and as a result I will never be able to do this as I won't be able to afford my contributions meaning Ill never work again at all most likely. I'm only 42 and my life is over. Trapped on benefits with nothing, forever. My dreams were all that kept me going and now its over for me.

I do know I am being unreasonable but this is the end for me, no point anymore.

In my first year I might not make anything at all, or a few £100 only. This would be ok under the old scheme but not if the bring this back.

I see - if you are classed as self employed but making under the threshold for obligatory contributions the amount you have to pay to make a voluntary contribution is increased. What I don’t understand is what you would be living on if you were earning that little? Wouldn’t you have to get a job on the side or claim universal credit/working tax credit - any of these would give you NI credit.

I literally don't know what's been announced, I'm asking for that information because I can't find it. The only thing I've seen is a fragment of speech that suggests self-employed might in future be taxed as much as employed, which doesn't seem unreasonable.
It wouldn't be unreasonable if the self-employed were to get the same state benefits as the employed, but we won't. Even under the Covid-19 proposals the self-employed have been offered a means tested sick pay, when this is regardless of means for the employed. There are several other state employment benefits you don't get as self-employed and have to self-fun from your profits.

@Corkiecova - I think you're forgetting the "hobby income" Trading Allowance which may help you here. You've got a £1,000 gross income allowance for small start-ups and hobby generated income. Until you exceed that you don't need to register for Self Assessment. This would be alongside whatever your current arrangements are for income and NI stamp.

A couple of years ago my husband nearly died from sepsis. He ended up in a coma on a life support machine. It's been a long recovery for him and he was nearly back at work full time, when he was laid off overnight 8 weeks ago. Company went bust, no notice period, wages, redundancy etc. He managed to pick up a new job just as Coronavirus hit. Needless to say it has not happened. There is great uncertainty for many many people right now. If the last couple of years have taught me anything, it's that sometimes you just have to roll with the punches and deal with things a day at a time. You are in good company right now. There are people all over losing jobs, businesses, loved ones etc. My cousin is a paramedic, ill with Coronavirus and having had to just cancel her wedding. You sound like you're panicking a bit now and have got caught up in feelings of negatively. Try to work on lifting your mood. To say that you will never work for the rest of your life is just your opinion right now, clouded by uncertainty and negativity. Don't let those negative thoughts win. Just pursue your dream and own it. Good luck!

What's your product, OP? Hope it succeeds financially as well as giving you job satisfaction too.

Here is a link to another article from 2016 about proposed abolition of NIC Class 2 then.

www.moneywise.co.uk/pensions/manage-pension/how-self-employed-may-miss-out-state-pension

That mean paying out £60 or more per month for NIC when you might not be earning anything if you need to ensure your pension.

It would make self employment unviable for many including me.

and thats my only choice to work.