[Missing Link]

As does giving people 4 weeks grace to complete last years return, that is already 2 months late.

They're  late, fine them the £100, add the interest as per the rules, don't give them the chance to fiddle it to claim more.

They could then move quicker and get the ones who follow the rules processed quicker.

I'm sure that any large increase in earnings would trigger a tax investigation.  In fact I'd bet money on it.

I also think that the time till payments are made in June will be more to do with setting up a whole new system of calculating payments and making them; starting from scratch; for five million people.

Right now a team of computer programmers will be working on it, and from past experience in another job, they don't get it done quickly or right first time.

[Missing Link]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

[p1w1]

Can you add your big red arrows to the keep on working bit..I'm confused 

[G Griffin]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

Gift?
Aaaw .
No such thing as a free lunch, young fellow m'Jim.

[NBwcs]

Does anyone think that this grant could now lead to a stricter lockdown?

No.  The Chief Medical Officer spoke about the travel to work thing.  That was taken into consideration with the current modelling the government is using to flatten the curve.

And he says - it will be a close run thing - but that the curve should flatten in the way they predict using the current situation we have now.

As long as people behave and follow the current guidelines.

Let's hope so but I'm not very trusting .
I should have emphasised the 'could'. I think that they had to get these deals in place before they could enforce a lockdown on all but key workers.
I hope it never comes to that but we're at the start of this thing, really. Temporary hospitals are being built and they're putting beds on the hospital car park near us.
A stricter lockdown could happen if things get bad enough.

Spot on, Its coming,you can put your self employed grant on it.
The way its looking at the moment, if its truly in addition to what we earn then if we're allowed to continue working as now, then some could end coming out of this better off. An established residential wc most probably has a buffer in the form of excess custys that he simply cant fit into his scheduled round hence is always behind. You could afford to lose that buffer without actually effecting your weekly wage and then get the grant on top. Obviously that will depend on how many we end up losing. Sounds too good to true at the mo.
My worry is that if wc are allowed to continue then those that work could end up picking up other windys work who are sitting it out if it goes on too long. I would much rather were all in the same boat and sit it out. Morally now it will be very difficult to justify working. I'll make tomorrow my last day.

[Paul-kent]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

But read the small print if you can not prove you were affected on the next 2021 return you will face a fine.

Once the peak is over and normality returns I will be canvassing like crazy to build up work that was lost over the winter before COVID-19

[NBwcs]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

But read the small print if you can not prove you were affected on the next 2021 return you will face a fine.

Once the peak is over and normality returns I will be canvassing like crazy to build up work that was lost over the winter before COVID-19

where did you read that please?

[Missing Link]

But read the small print if you can not prove you were affected on the next 2021 return you will face a fine.

I'll be to prove that because I am affected.  The best 20-30% of my work is currently on pause.  My accounts will prove it.  I could also get a letter from a couple of commercial jobs saying they put me on pause.

[Don Kee]

If I’ve read the BBC correctly, you don't need to declare the grant (if you get it) until January 2022. (ie year 21/22 tax return)
They’ve given an extra year to pay the tax on it as well.

Government predicting this is going to be economically brutal for a looooog time...?

[Missing Link]

Government predicting this is going to be economically brutal for a looooog time...?

I think you've got young kids, Donkey?

They'll be paying for this too through their taxes.

[Don Kee]

Government predicting this is going to be economically brutal for a looooog time...?

I think you've got young kids, Donkey?

They'll be paying for this too through their taxes.

Aye, so will their kids me thinks.

[Paul-kent]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

But read the small print if you can not prove you were affected on the next 2021 return you will face a fine.

Once the peak is over and normality returns I will be canvassing like crazy to build up work that was lost over the winter before COVID-19

where did you read that please?

How will I prove I've made a loss due to coronavirus?

The Treasury has not set a figure on how much of a loss allows you to claim. In theory you could claim once you've lost £1.

However, tax officials will be able to check you did actually make a reasonable loss when you eventually file your 2020/21 tax return.

People are being asked to take a "responsible approach". Officials declined to say what the penalties might be if you don't.

https://www.mirror.co.uk/news/politics/coronavirus-bailout-38million-self-employed-21761600

[Slacky]

Government are making it up as they go along.

DO NOT TRUST THEM.

Umm, well, they would be, wouldn't they; these events are unprecedented.

But of course you'd do a better job wouldn't you.

Honestly, would you say they are proactive or reactive? Think about it.

DO NOT TRUST THEM.

I seriously think they are being pro-active.

They've in the course of the last  week thrown together an economical rescue package the likes we and pretty much no other advanced country has ever seen. Its likely to eclipse any other countries rescue package by a country mile except for that of Americas.


But of course for some it just isnt enough. Especially for those with an oversized  sense of entitlement.

A bit harsh, Matt. To some it isn't enough.
And we'll have to pay it back, you know.

The bigest bsil out in history and some people are checking the nags teeth. Thats not harsh, its fact. Of course we’ll have to pay it back; who wouldn’t? Thats economics for you. We’re self-employed, and theyve given us a free for all party invite snd some people still moan. What do they want, seriously, what the feck is it some people want to be f***ing happy?

[KS Cleaning]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

But read the small print if you can not prove you were affected on the next 2021 return you will face a fine.

Once the peak is over and normality returns I will be canvassing like crazy to build up work that was lost over the winter before COVID-19

But you could argue that if there was no difference in your turnover compared to the previous year that you were still affected as you had predicted growth.

[Missing Link]

The bigest bsil out in history and some people are checking the nags teeth. Thats not harsh, its fact.

It's the Tories, innit.  Had Labour been in power and done the same things it would've been "Aren't we lucky we have a Labour government giving us free money; the Tories would've just bailed out their rich mates".

When the truth of the matter is that Labour would've still been trying to find out what gender and rights we should give to Covid-19.

[Crystal-clear]

The forms for this have to be super complex i can imagine 1 million+ people wanting this grant for feeling they've lost out
1m x 2500 a month isn't that 2.5b a month so 30B pounds in a lump sum??  if they're open handed with this stuff it would ruin the uk even more

also notice how the Canceller took this opportunity to pump up his government.. we'll have to wait and see.

I'm pretty sure its going to be for the most in need (thats the way it should be)where income has ceased god knows what else is going to be in the application i'd be amazed if its straightforward  they know every tom dick and harry will want £30k for not working

I also have a feeling you wont get the grant if you decided to sit at home through your own choice due to not risking exposure and more if you tried to work but couldn't who knows...  shall have to just wait and see... Also i wonder if directors of Ltd company's fall into this because you do need to do self assessments for dividend payments or a Director of a company may be entitled to the other benefits spoken about..., again i'm certain the criteria  for this is going to be super strict as well.

never the less something is on the table i just hope it gets to the most in need as soon as possible and we all just need to do our best to have as little contact as possible so life can return back to normal asap!
stay safe

[Missing Link]

I want to know what 8weekly's reaction to Rishi's announcement is?

[KS Cleaning]

The forms for this have to be super complex i can imagine 1 million+ people wanting this grant for feeling they've lost out
1m x 2500 a month isn't that 2.5b a month so 30B pounds in a lump sum??  if they're open handed with this stuff it would ruin the uk even more

also notice how the Canceller took this opportunity to pump up his government.. we'll have to wait and see.

I'm pretty sure its going to be for the most in need (thats the way it should be)where income has ceased god knows what else is going to be in the application i'd be amazed if its straightforward  they know every tom dick and harry will want £30k for not working

I also have a feeling you wont get the grant if you decided to sit at home through your own choice due to not risking exposure and more if you tried to work but couldn't who knows...  shall have to just wait and see... Also i wonder if directors of Ltd company's fall into this because you do need to do self assessments for dividend payments or a Director of a company may be entitled to the other benefits spoken about..., again i'm certain the criteria  for this is going to be super strict as well.

never the less something is on the table i just hope it gets to the most in need as soon as possible and we all just need to do our best to have as little contact as possible so life can return back to normal asap!
stay safe

1. Not everyone will have earned enough to qualify for a £2500 per month payment
2. It’s initially for 3 months....not 12

[Crystal-clear]

The forms for this have to be super complex i can imagine 1 million+ people wanting this grant for feeling they've lost out
1m x 2500 a month isn't that 2.5b a month so 30B pounds in a lump sum??  if they're open handed with this stuff it would ruin the uk even more

also notice how the Canceller took this opportunity to pump up his government.. we'll have to wait and see.

I'm pretty sure its going to be for the most in need (thats the way it should be)where income has ceased god knows what else is going to be in the application i'd be amazed if its straightforward  they know every tom dick and harry will want £30k for not working

I also have a feeling you wont get the grant if you decided to sit at home through your own choice due to not risking exposure and more if you tried to work but couldn't who knows...  shall have to just wait and see... Also i wonder if directors of Ltd company's fall into this because you do need to do self assessments for dividend payments or a Director of a company may be entitled to the other benefits spoken about..., again i'm certain the criteria  for this is going to be super strict as well.

never the less something is on the table i just hope it gets to the most in need as soon as possible and we all just need to do our best to have as little contact as possible so life can return back to normal asap!
stay safe

1. Not everyone will have earned enough to qualify for a £2500 per month payment
2. It’s initially for 3 months....not 12

yeah ok good point ! still tho its going to be a massive whack of cash the Treasury's exposed to! i still sense  strict rules

[NBwcs]

It will be interesting to see what the self employed actually get, I suspect it will be loss of earnings due to cancelled work rather than refusing to go out and work which will be covered.

Rishi's just told you what you'll get.  80% of your earnings based on an average of your previous three years of tax returns.

AND you can keep on trading at the same time.



That is one heck of a generous gift for those of us who can keep trading.

For three months.

But read the small print if you can not prove you were affected on the next 2021 return you will face a fine.

Once the peak is over and normality returns I will be canvassing like crazy to build up work that was lost over the winter before COVID-19

where did you read that please?

How will I prove I've made a loss due to coronavirus?

The Treasury has not set a figure on how much of a loss allows you to claim. In theory you could claim once you've lost £1.

However, tax officials will be able to check you did actually make a reasonable loss when you eventually file your 2020/21 tax return.

People are being asked to take a "responsible approach". Officials declined to say what the penalties might be if you don't.

https://www.mirror.co.uk/news/politics/coronavirus-bailout-38million-self-employed-21761600

Martin Lewis "moneysavingexpert" is worth keeping an eye on. Hes already raised this issue and is going to pursue it.

"Q. What if I get a grant then have a really good year - will I need to pay it back? A. The Treasury hasn't said there will be a 'clawback' of the grants if you end up with high overall earnings in 2020-1 - but we're double-checking and will update this story when we know more."

 https://www.moneysavingexpert.com/news/2020/03/chancellor-announces-help-for-self-employed/