Self employed help

Computer says no because im getting UC I suppose

 

The difficulty they have been having is, that if you're self employed and still working you can still claim because they do not know until your year end accounts come in.
Some will claim then be in a world of pain if their accounts show an income for the period they claim to be out of work.
Or maybe that's why the track and trace app is coming out.
Where's my tin foil

 

I received a letter this morning from them and also an email from my accountant if I needed any help....all easy to sort out..

 

Why are you not eligible???
Self employed with accounts in or not

 

I think it’s because you put “Breaking and Entering” as your primary occupation, Baz.

 

I think you might have the wrong end of the stick here. If you are an employee of a business and are on furlough, you can’t work for the business. This is because the scheme exists to prevent employers simply making everyone redundant as they have no income to pay staff. If you are self employed and not a limited company, essentially a sole trader or a partnership, you are not prevented from working during this time, as you aren’t employed by a business and can’t make yourself redundant. The money we are being provided is meant to help towards loss of earnings due to reduced business owing to the restrictions. When we do our self assessment returns at the end of this year, any government money paid to us is taxable income. So there’s no issue with self employed continuing to work. In fact the government would like us to continue working, that way we pay tax on the money they give us and what we’ve earned in this period.

 

My work load is about 10% of normal so why will it be a problem...if you look into it you are going to be taxed and national insurance still to come out of it when the accounts are submitted covering this period.

 

Nice summary.

 

I too have had a gateway number for years.
I've had no letter but i did get a email yesterday some of my work mates have had letters some not we are all sole traders one mate is limited he's been told by his accountant he's not entitled.
You can check here.
https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference

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That’s how it’s been with my group of tradesman mates as well. Some have had letters, others have had emails, others no contact at all yet. But all of us have been able to check if we are entitled to make a claim once we’ve registered or used our existing gateway log in.

 

Maybe if they don't tell anyone they could save quite a few quid !

 

From my accountant.

HM Revenue & Customs have now released the following guidance.

We do not believe that we as Agents can make this claim for you. and as such you will need your own Government Gateway Account. The following video explains how you can set this up: We Are Golding YouTube

The Chancellor, Rishi Sunak, announced a new scheme at the end of March to support self-employed people impacted by coronavirus. It’s about to launch ahead of schedule and we’re writing to you because you might be eligible to make a claim under the scheme.

The Self-Employment Income Support Scheme provides a taxable grant of 80% of average monthly trading profits, paid in a single installment of up to a total of £7,500.

This email sets out how to check your eligibility and how to make a claim.

How to check if you are eligible

Search GOV‌.UK for 'Self-Employment Income Support Scheme' from Monday 4‌‌ May.

To complete this eligibility check, you’ll need to have your:

1. National Insurance number – if you don’t know this, go to the HMRC app, your online tax account or ask your tax agent (if you have one).
2. Self Assessment Unique Taxpayer Reference (UTR) number – you can find this on your self assessment papers or from your agent.

If we confirm you are eligible, you’ll then need your: Government Gateway user ID and password – if you don’t have an account, or have forgotten your details, follow the instructions on GOV‌.UK by searching for the 'Self-Employment Income Support Scheme'. Please check your contact details are correct in your Government Gateway account.

You cannot access the financial support yet. We’ll send you another email soon to tell you when the claim system is available for you to use. We expect this to be between 13 and 18‌‌ May.

How to make a claim

You’ll need to make the claim yourself, although you can seek advice from an agent if you use one.

Once we have contacted you with your claim date, please follow these simple steps to make your claim:

1. All you will need are your Government Gateway user ID and password, bank account number and sort code.
2. We will calculate the income support you’re entitled to, based on the information you have submitted in your previous tax returns.
3. After we’ve received your claim and verified it, we’ll pay the money directly into your bank account within six working days.

Please only call us if you cannot find the support you need on GOV‌.UK or our webchat service – this will leave our lines open for those who need our help most.

A word about scams

We are aware of an increase in scam emails, calls and texts. If someone gets in touch claiming to be from HMRC, saying that financial help can be claimed or that a tax refund is owed, and asks you to click on a link or to give information such as your name, credit card or bank details, please do not respond. You can forward suspicious emails claiming to be from HMRC to phishing@hmrc.gov.uk and texts to 60599.

Hope this helps.

 

The point I was trying to make is, some people are doing ok and still working full time but are still allowed to make a claim as the government does not know if you are still working or not.
Do you know some small food shops that have been doing more trade than usual have been paid 10k grants from the local authority. My old accountant who has been working long hours trying to sort all his clients out also received the grant as his office qualified.
As always these schemes are open to being abused.

 

The point is to keep the nation skill set alive and kicking to ensure a steady return to normality, there will always be someone trying to fiddle but that's not the issue. A properly regulated help system ensures we don't all flog our tools and vehicles then sign on. If people feel they don't need the help then great. Those of us who have seen our workload fall off a cliff do need it.

 

It will certainly help me out. Every year June and July are my quietest months. I’ve had my own business 16 years and last june was the quietest I’ve had. I barely even covered my out goings let alone took a wage. So not wanting that to happen again, I decided last year that I’d put a bit extra away in feb,mar,apr & May to cover June and July this year. Then my work drops off a cliff and if I then get the same very slow June and July thins will be a bit tricky. So if I get a little bit back from this scheme then it will basically replace what I couldn’t save due to the lockdown

 

I received a notification by text to enter my UTR and NI into to gov.uk website.
Lo and behold I'm entitled to make a claim on the 15th , not entirely convinced it's that easy as I've never been given owt ....

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Ha, same here. I went and had seizure at the end of one of my best years so couldn't drive for a year then 4 months after getting licence back and not having to spend my savings on train fares this happened!

 

What got to me the most my old accountant is a friend. I know in April 25 years ago he used to fetch in about 5k/ week doing self employed books.
When I phoned him asking how he was getting on he told me all what was being claimed and tried justifying it by saying his clients only paid out when their money came in.
The phone call got cut short.

 

You should get it, just go through the process.