[Slacky]

If they were going penalise the self-employed they would've surely said 'loss based approach'?

[mjm]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

[G Griffin]

‘Risk based approach’ is business speak. It’s a term you can pick up on Google. Still don’t understand it though.

It's discretion, surely?
Like when weighing up an investigation? Would it be worth the bother of delving into someone's business affairs for a few grand?

[G Griffin]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

No, we'll pay it back with reduced tax and NI breaks.

[mjm]

That's not what it says here

[deeege]

If they were going penalise the self-employed they would've surely said 'loss based approach'?

There’s a big difference between penalising the self employed and ensuring no self employed are actually better off due to the virus.

They will do everything they can to ensure the latter will not happen imo.

[deeege]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

It’s always been described as a grant and not a loan, and therefore would not need to be repaid.

Can you link us to where it was ever said it needed to be repaid?

[AuRavelling79]

That's not what it says here

Yes that is what I received.

I believe you are correct.

[G Griffin]

That's not what it says here

You pay tax and NI on the grant like you would have done with your income anyway.

[mjm]

That's not what it says here

You pay tax and NI on the grant like you would have done with your income anyway.
[/quote


Asaaah right  thanks   

[mjm]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

It’s always been described as a grant and not a loan, and therefore would not need to be repaid.

Can you link us to where it was ever said it needed to be repaid?

I dont have a link it was said in the first speech when it was announced  this is a grant and will have to be paid back with tax on top but I think they have re worded it all

[mjm]

That's not what it says here

You pay tax and NI on the grant like you would have done with your income anyway.

Thank you 

[deeege]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

It’s always been described as a grant and not a loan, and therefore would not need to be repaid.

Can you link us to where it was ever said it needed to be repaid?

I dont have a link it was said in the first speech when it was announced  this is a grant and will have to be paid back with tax on top but I think they have re worded it all

Grants are not repaid, loans are.

It was never said it needed to be repaid, only that it will be subject to Tax and NI as it is classed as income.

[Dry Clean]

If they were going penalise the self-employed they would've surely said 'loss based approach'?

Maybe and as I don't know I'm saying maybe what they mean by risk based is what risk will your business be under if you don't get the pay out, remember a lot of this is more to do with saving jobs than adding to a yearly profit.

[Rob.Hall]

Who can claim

You can claim if you’re a self-employed individual or a member of a partnership and you:

have submitted your Self Assessment tax return for the tax year 2018 to 2019traded in the tax year 2019 to 2020are trading when you apply, or would be except for coronavirusintend to continue to trade in the tax year 2020 to 2021have lost trading profits due to coronavirus

You will need to confirm to HMRC that your business has been adversely affected by coronavirus. HMRC will as usual use a risk based approach to compliance.

Note: :::::: 
You will need to confirm to HMRC that your business has been adversely affected by coronavirus. HMRC will as usual use a risk based approach to compliance.

So you will have to prove your business has been adverely been affected by coronavirus...
We will have to prove..!

Self explanatory..

[mjm]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

It’s always been described as a grant and not a loan, and therefore would not need to be repaid.

Can you link us to where it was ever said it needed to be repaid?

I dont have a link it was said in the first speech when it was announced  this is a grant and will have to be paid back with tax on top but I think they have re worded it all

Grants are not repaid, loans are.

It was never said it needed to be repaid, only that it will be subject to Tax and NI as it is classed as income.

I've never been a student so I always thought Grant's like a student grant have to be paid back so student dont pay there Grant's back and they get thousands or have I messed this up completely here
good job I dont drink now i would on floor smashed every night

[KS Cleaning]

I’ve not herd anything for you sole trader guys (sorry) but I hear that the gov is being pushed to ensure furlough payments are done this month

We will see

Darran

The portal will go live on April 20th for furloughed workers Darran.

[deeege]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

It’s always been described as a grant and not a loan, and therefore would not need to be repaid.

Can you link us to where it was ever said it needed to be repaid?

I dont have a link it was said in the first speech when it was announced  this is a grant and will have to be paid back with tax on top but I think they have re worded it all

Grants are not repaid, loans are.

It was never said it needed to be repaid, only that it will be subject to Tax and NI as it is classed as income.

I've never been a student so I always thought Grant's like a student grant have to be paid back so student dont pay there Grant's back and they get thousands or have I messed this up completely here
good job I dont drink now i would on floor smashed every night

They don’t pay grants back but do pay loans back. Both very different things.

Example, the government are short of nurses so offer a grant of £5k per year towards tuition fees for those training to be a nurse. This would not need to be repaid.

Student who is studying architecture would need to pay £9k per year in tuition fees, he would get a student loan to cover this cost and this would need to be repaid, with interest.

(Just an example)

 

[mjm]

There also saying you dont have to pay it back
When the first statement  came out they said it would have to be paid back with the tax on top

It’s always been described as a grant and not a loan, and therefore would not need to be repaid.

Can you link us to where it was ever said it needed to be repaid?

I dont have a link it was said in the first speech when it was announced  this is a grant and will have to be paid back with tax on top but I think they have re worded it all

Grants are not repaid, loans are.

It was never said it needed to be repaid, only that it will be subject to Tax and NI as it is classed as income.

I've never been a student so I always thought Grant's like a student grant have to be paid back so student dont pay there Grant's back and they get thousands or have I messed this up completely here
good job I dont drink now i would on floor smashed every night

They don’t pay grants back but do pay loans back. Both very different things.

Example, the government are short of nurses so offer a grant of £5k per year towards tuition fees for those training to be a nurse. This would not need to be repaid.

Student who is studying architecture would need to pay £9k per year in tuition fees, he would get a student loan to cover this cost and this would need to be repaid, with interest.

(Just an example)

 

Aah    got it thanks that's very helpfull 😎

[G Griffin]

Who can claim

You can claim if you’re a self-employed individual or a member of a partnership and you:

have submitted your Self Assessment tax return for the tax year 2018 to 2019traded in the tax year 2019 to 2020are trading when you apply, or would be except for coronavirusintend to continue to trade in the tax year 2020 to 2021have lost trading profits due to coronavirus

You will need to confirm to HMRC that your business has been adversely affected by coronavirus. HMRC will as usual use a risk based approach to compliance.

Note: :::::: 
You will need to confirm to HMRC that your business has been adversely affected by coronavirus. HMRC will as usual use a risk based approach to compliance.

So you will have to prove your business has been adverely been affected by coronavirus...
We will have to prove..!

Self explanatory..

Confirm not prove. There's a big difference.