| BUSINESS Benefits 10:37 - Mar 27 with 1512 views | Boris_ |
What are peoples thoughts? Seems to be lots of help for the self-employed, high street shops and pubs/restaurants etc.
Nothing for slightly larger businesses. The only benefit we can apply for is 80% to furlough staff which is an employee benefit, not one for us as the alternative would have been to furlough them unpaid or make redundancies.
Still have to pay BUSINESS rates for my warehouse and offices even though there's no BUSINESS happening as we can't trade from them?
No help with lease or other overheads either.
Generally speaking I think the government have done a great job with benefits for employees and self-employed but many many slightly larger businesses will disappear as they keep having to pay overheads whilst unable to trade |  |
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| BUSINESS Benefits on 11:03 - Mar 27 with 1487 views | darthvader |
Isnt there a grant u can apply for? Up to 25k ? and a business rates thing i read somewhere is being stopped ? Or is that just for smaller businesses ?
Surely there is something for larger ones with rates etc
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-
The self employement thing is better than nothing at all but not till june .
Many of us will be bankrupt by then unless can gain employment (which i aim to try and do in a supermarket when my current work stops next week)
This is a blooming nightmare for everyone .
Staying healthy is first priority .
But eating is a close second . |  |
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| BUSINESS Benefits on 17:14 - Mar 27 with 1416 views | Boris_ |
| BUSINESS Benefits on 11:03 - Mar 27 by darthvader |
Isnt there a grant u can apply for? Up to 25k ? and a business rates thing i read somewhere is being stopped ? Or is that just for smaller businesses ?
Surely there is something for larger ones with rates etc
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-
The self employement thing is better than nothing at all but not till june .
Many of us will be bankrupt by then unless can gain employment (which i aim to try and do in a supermarket when my current work stops next week)
This is a blooming nightmare for everyone .
Staying healthy is first priority .
But eating is a close second . |
Then £25k grants are only for businesses in Leisure and Hospitality.
No self-employed benefits for me as I draw my money as a dividend which isn't covered.
We aren't entitled to anything other than a business disruption loan which is just kicking debt down the road. | |
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| BUSINESS Benefits on 17:19 - Mar 27 with 1409 views | Bison |
| BUSINESS Benefits on 17:14 - Mar 27 by Boris_ |
Then £25k grants are only for businesses in Leisure and Hospitality.
No self-employed benefits for me as I draw my money as a dividend which isn't covered.
We aren't entitled to anything other than a business disruption loan which is just kicking debt down the road. |
I've been a contractor before using a LTD company and so payed a fraction of the tax of a PAYE employee as the dividends are taxed much less. I presume you payed yourself a salary that just triggered NI like i did as well ?
I'm not sure you are going to get much sympathy at the moment mate. |  |
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| BUSINESS Benefits on 17:35 - Mar 27 with 1389 views | jrewing |
| BUSINESS Benefits on 17:19 - Mar 27 by Bison |
I've been a contractor before using a LTD company and so payed a fraction of the tax of a PAYE employee as the dividends are taxed much less. I presume you payed yourself a salary that just triggered NI like i did as well ?
I'm not sure you are going to get much sympathy at the moment mate. |
Hey let’s forget about the corporation tax the companies pay ....... |  | | |
| BUSINESS Benefits on 17:54 - Mar 27 with 1373 views | Boris_ |
| BUSINESS Benefits on 17:19 - Mar 27 by Bison |
I've been a contractor before using a LTD company and so payed a fraction of the tax of a PAYE employee as the dividends are taxed much less. I presume you payed yourself a salary that just triggered NI like i did as well ?
I'm not sure you are going to get much sympathy at the moment mate. |
Pay 20% VAT on profits.
Then 20% Corporation tax on what's left before paying myself a dividend, of which I also pay tax on.
How much tax do you want me to pay mush? | |
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| BUSINESS Benefits on 20:36 - Mar 27 with 1331 views | Buggalugs |
| BUSINESS Benefits on 17:54 - Mar 27 by Boris_ |
Pay 20% VAT on profits.
Then 20% Corporation tax on what's left before paying myself a dividend, of which I also pay tax on.
How much tax do you want me to pay mush? |
Totally agree pal...I’m in exactly the same boat. Those that have no sympathy for directors who draw dividends for their salary forget or don’t understand the amount of corporation tax businesses pay. If we’re still trading in the coming years, you watch them whack that up as well as the tax rate on dividends to pay for all this.
Furthermore, as a business owner, not only do I have to worry about losing at least 2 months worth of trade (about £200k for us), the more concerning factor is getting the money in from customers purchases in Feb and March which will be due by end of April. Are these businesses really going to pay up with so much uncertainty in their own businesses? I fear that’ll be the most likely thing to take us down. |  |
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| BUSINESS Benefits on 22:58 - Mar 27 with 1278 views | Bison |
| BUSINESS Benefits on 20:36 - Mar 27 by Buggalugs |
Totally agree pal...I’m in exactly the same boat. Those that have no sympathy for directors who draw dividends for their salary forget or don’t understand the amount of corporation tax businesses pay. If we’re still trading in the coming years, you watch them whack that up as well as the tax rate on dividends to pay for all this.
Furthermore, as a business owner, not only do I have to worry about losing at least 2 months worth of trade (about £200k for us), the more concerning factor is getting the money in from customers purchases in Feb and March which will be due by end of April. Are these businesses really going to pay up with so much uncertainty in their own businesses? I fear that’ll be the most likely thing to take us down. |
Look at the numbers you are quoting £200k , I said you won't get much sympathy at the moment due to people getting £97 a week on sick or like DV looking for a job at Tesco to feed himself.
So No , no sympathy if you talking about struggling mentioning £200,000.00 pound in the same breath as £000,097.25. | |
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| BUSINESS Benefits on 23:00 - Mar 27 with 1276 views | Bicester_North |
| BUSINESS Benefits on 20:36 - Mar 27 by Buggalugs |
Totally agree pal...I’m in exactly the same boat. Those that have no sympathy for directors who draw dividends for their salary forget or don’t understand the amount of corporation tax businesses pay. If we’re still trading in the coming years, you watch them whack that up as well as the tax rate on dividends to pay for all this.
Furthermore, as a business owner, not only do I have to worry about losing at least 2 months worth of trade (about £200k for us), the more concerning factor is getting the money in from customers purchases in Feb and March which will be due by end of April. Are these businesses really going to pay up with so much uncertainty in their own businesses? I fear that’ll be the most likely thing to take us down. |
Agreed Buggalugs- The building trade is going to be an absolute mare with subbies going under with payments not being made, and I’m sure many other sectors are the same. | |
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| BUSINESS Benefits on 23:25 - Mar 27 with 1264 views | cocklebreath |
Being self employed I am going to get 80% which is great, won’t believe it till it’s in my bank account, feels weird, I’ve worked my whole adult life and never claimed a penny but suddenly I’m having money thrown at me, feels wrong getting paid to do nothing but fair play to the government I’ve gone from my main worry being can I pay my mortgage will my family and me stay safe, think I preferred the money worry’s |  |
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| BUSINESS Benefits on 06:29 - Mar 28 with 1195 views | Occasional_Showers |
| BUSINESS Benefits on 23:25 - Mar 27 by cocklebreath |
Being self employed I am going to get 80% which is great, won’t believe it till it’s in my bank account, feels weird, I’ve worked my whole adult life and never claimed a penny but suddenly I’m having money thrown at me, feels wrong getting paid to do nothing but fair play to the government I’ve gone from my main worry being can I pay my mortgage will my family and me stay safe, think I preferred the money worry’s |
When you look at other countries you’ve got to be grateful that we are where we are. The government have gone above and beyond anything ever seen before. Americans are losing their jobs and have no automatic healthcare. This crisis needs fixing ASAP but with our measures we can hopefully come out he other side and get the economy firing up a lot quicker. |  |
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| BUSINESS Benefits on 07:25 - Mar 28 with 1171 views | Buggalugs |
| BUSINESS Benefits on 22:58 - Mar 27 by Bison |
Look at the numbers you are quoting £200k , I said you won't get much sympathy at the moment due to people getting £97 a week on sick or like DV looking for a job at Tesco to feed himself.
So No , no sympathy if you talking about struggling mentioning £200,000.00 pound in the same breath as £000,097.25. |
Not really a level playing field is it comparing a company’s turnover to an individual claiming universal credit.
Also, you do understand the difference between turnover and profit don’t you? There are multiple fixed costs to run a business and not only do we have to worry about paying those, we have to worry about being paid. Fortunately my business is in a pretty healthy position going into this, but I fear it’ll be decimated when we come out the other side.
I don’t want sympathy and yes, I don’t have to worry about feeding my family, but sticking two fingers up and underestimating the pressures small business owners are under through all this is crass. | |
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| BUSINESS Benefits on 14:03 - Mar 28 with 1100 views | Boris_ |
| BUSINESS Benefits on 22:58 - Mar 27 by Bison |
Look at the numbers you are quoting £200k , I said you won't get much sympathy at the moment due to people getting £97 a week on sick or like DV looking for a job at Tesco to feed himself.
So No , no sympathy if you talking about struggling mentioning £200,000.00 pound in the same breath as £000,097.25. |
Bit of a naive post there mush. £200k trade doesn't = £200k revenue but it does mean significant overheads each month that can quickly wipe out a company that's unable to trade for a few months ( and in turn cost people their jobs ) . | |
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| BUSINESS Benefits on 17:01 - Mar 28 with 1030 views | this_charming_man |
I’m surprised 22 hasn’t offered any advice on this subject what with him running a very successful business you’d think he’d be the ideal person to comment...... | |
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| BUSINESS Benefits on 17:13 - Mar 28 with 1020 views | kentsouthampton |
| BUSINESS Benefits on 17:14 - Mar 27 by Boris_ |
Then £25k grants are only for businesses in Leisure and Hospitality.
No self-employed benefits for me as I draw my money as a dividend which isn't covered.
We aren't entitled to anything other than a business disruption loan which is just kicking debt down the road. |
Creative accountancy can be a bitch. |  | | |
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