Self Employed

[lankeela]

how do they cope for example if they had an accident and broke a leg and couldn't do their usual work - do they not have some form of back up? When I was a self employed dog sitter/walker (years before it became a 'thing'!) I would not have had any income had I not worked but that was a given for working for myself. Should those who are self employed now be whinging about having to wait to get a payout from the government?

[bookbinder]

https://www.theguardian.com/world/2020/mar/25/panicking-uk-self-employed-left-behind-by-covid-19-response

[bednobs]

you can pay for income protection insurance. I am pleased to see that SE contributions will now be brought up in line with employed people

[Gizmonster]

I have an accident insurance policy that will pay me if I'm off due to an accident; but NOT due to illness (my choice).
I think it has a "waiting period" of 4 weeks ..... although I'm not 100% sure, 'cos the last and only time I claimed on it was back in 2003 when my ladders snapped!!

[MartinMillar]

Would you whinge if you had no money coming in through no fault of your own

[Ringlet]

I think you might "whinge" a bit if you and your children faced starvation because of something you had no control over. This is not a case of people asking for something for nothing. It is a case of people asking that they are not entirely abandoned. What would you have them do? Starve?

[AuntPollyGrey]

Considering many self-employed don't declare all they make, or at least over egg their inputs, taking their 18-19 tax return net profits will not give them anywhere near what their true income would be. You can take out insurance for accident and/or illness but don't think the government telling you to stop work is covered.

[cassa333]

I don’t think you can insure against everything.

[fiction-factory]

I think overall the help is very generous, especially as you can get the 80% even if you keep working. I thinks someone who runs a business/is self employed accepts there are income fluctuations and should have plans to survive for 2-3 months until the backdated grant of up to £7500 comes in.
Someone else was complaining they couldn't get UC as they had over £16000 savings. Well what are your savings for if you won't dip in for this for 2-3 months

[AuntPollyGrey]

I wonder if those continuing to work, yet applying for the Grant, will have to declare the Grant as income?

[fiction-factory]

Yes, I assume so as it's taxable and will come from HMRC so HMRC will certainly know about it

[royfromaus]

I think overall the help is very generous, especially as you can get the 80% even if you keep working.


How ridiculous is that?
May as well have run a postcode lottery

[AuntPollyGrey]

In that case I doubt those still working would apply for a grant if they were going to get taxed on it.

[Old_Geezer]

Isn't the idea of going self employed that it's more lucrative than working for another, and so you salt away your massive wealth which easily tides you over the bad times ?

[fiction-factory]

can't see an alternative, roy. Prove you've no income since covid? what if your income has halved? Fallen 75%.
That would be so complicated and delay the process significantly. It would mean waiting well beyond June to vet each case

[bednobs]

I think it's a good idea - our childminder for example usually has 6-8 children, but at the moment is only allowed to be looking after 1 child of a key worker. So she has had her income cut but is still working

[jno]

OG, I suspect the idea these days is that you have skills but can't find anyone else to employ you.

[JimF]

Hold on - you can still apply for the grant even if you're not out of work due to the pandemic? That can't be right, surely. It's certainly not fair! You can't apply for JSA (or whatever it's called these days) if you're not out of work...

[bednobs]

FF you could do maths tutoring online and till have an income but very little

[fiction-factory]

>In that case I doubt those still working would apply for a grant if they were going to get taxed on it.

Why not. At 20% tax they'd still get 80% of 80%- nice bonus. But of course some/most will earn something but a lot less than before, so the grant will be needed. It's a non-refundable grant, not a loan

[AuntPollyGrey]

Old Geezer Some folks have no choice in the matter - you'd be surprised how many people are expected to be self employed so those they work for do not have to pay their 'stamp'. Cleaners, care workers, people in the hospitality industry. Not all self employed are millionaire entrepreneurs!