Freelancers during this crisis and the Self Employment Income Support Scheme

[Anju]

I'm still absolutely fucked and having to eat through my savings until they go low enough so I can claim for Income Support.

Is it possible to buy something that will hold or even increase in value? I used to know someone who made their money illegally and they started buying rare guitars which they kept in a little storage unit. He ended up a lot better off than someone who would have been able to put the same amount in a bank.

There must be other things you could spend the money on that won't risk it losing value. No idea if it would be legal but do you know anyone you trust enough to lend the money to, not a real loan just a temporary transfer.

 

[cupid_stunt]

Looks like they will be increasing the self-employed grant again.

Chancellor pressed on lockdown financial aid for self-employed
Asked if self-employment support would rise to 80% from around 40%, the Chancellor said self-employed grants cover a much longer period than the furlough scheme.

“Directionally of travel, the 40% will go up to reflect the fact that at least one of those months of support will be at a higher level for those who are in employment,” Rishi Sunak told BBC Radio 4’s Today programme.

He said moments earlier: “For the self-employed, coming on top of our comprehensive and generous set of support that we have already put in place ... we have announced extensions to our self-employed grants.

“And what we have done, typically, during this crisis, is adjust the value of the grants, as we have adjusted the value of the support to those who are employed.

“Bearing in mind they are slightly different programmes, and self-employed grants are for three months at a time versus furlough at a month at a time.

“But, broadly, we have adjusted those things and you can expect us to do the same again here, and the Prime Minister will have details of that.”

Reported at 09:36 on the Mirror's live blog.

Coronavirus - recap all you need to know as Starmer slams 'slow' Johnson

Boris Johnson warned coronavirus deaths over the winter could be twice as high as during the first wave of the pandemic as he outlined plans for a second national lockdown to MPs at 3.30pm today

www.mirror.co.uk

 

[marshall]

I was hoping we could apply for this extension at some point this week i.e. it's after 1st November.

But checked on site and you can only apply after 14th December, is that right? Surely not.

 

[cupid_stunt]

I was hoping we could apply for this extension at some point this week i.e. it's after 1st November.

But checked on site and you can only apply after 14th December, is that right? Surely not.

That's earlier than the last two grants, the one covering Mar-May could only be claimed around mid-May, and the other covering Jun-Aug around mid-Aug., so it's basically a month earlier in the 3-month period covering Nov-Jan.

 

[cupid_stunt]

Johnson has announced in the Commons that the SE grant during lockdown will be increased to 80%.

 

[wemakeyousoundb]

Johnson has announced in the Commons that the SE grant during lockdown will be increased to 80%.

so, one month (or more...) at 80% then 40% for the rest of this round?
Quite a few article about the MIF for those of us on UC in the past couple of days.

 

[cupid_stunt]

so, one month (or more...) at 80% then 40% for the rest of this round?
Quite a few article about the MIF for those of us on UC in the past couple of days.

80% during lockdown, currently 4 weeks, then back to 40%, although it could all change again.

What's MIF?

 

[wemakeyousoundb]

80% during lockdown, currently 4 weeks, then back to 40%, although it could all change again.

What's MIF?

Minimum Income Floor, it's a Universal Credit pile of steaming crap which was removed early on during the pandemic but is supposed to come back in on 13th of November.
Basically they use the figure for 35 hours a week at minimum wage as the minimum you have earned in a month whether you have or not to assess how much you get paid.

 

[marshall]

I was hoping we could apply for this extension at some point this week i.e. it's after 1st November.

But checked on site and you can only apply after 14th December, is that right? Surely not.

Moved forward to 30 November, better.

 

[Anju]

Not sure if this has been posted already but might be of help to some. Grants are for individuals as well as organisations.

Our open funds | Arts Council England

 

[cupid_stunt]

Just a reminder, you can claim the latest self-employed grant now.

 

[nogojones]

Just a reminder, you can claim the latest self-employed grant now.

In the bank (and rapidly exiting the bank) already

 

[miss direct]

There's no option for £0.

 

[Johnny Doe]

IR35 changes incoming. Hopefully actually benefits me as clients are now insisting I prove I have other clients, as opposed to formerly not being too keen

 

[cupid_stunt]

Announced in the budget -

Support for the self-employed will also continue until September, with another two grants covering the period February to April, and from May onwards.

The fourth grant will provide three months of support at 80 per cent of average trading profits. For the fifth grant, people will continue to receive grants worth three months of average profits.

In a major boost for the “missing 3m” self-employed people who have not yet received government support from the Self Employment Income Scheme (SEISS), Rishi Sunak announces additional support for those that filed tax returns in the 2019/2020 period — who were previously excluded from the scheme.

Budget 2021: Live news and updates - CityAM < timed 12,43

 

[wemakeyousoundb]

I wonder if this means they will move the assessment period for grants forward by a year; I hope so as this would massively increase my grants.

 

[cupid_stunt]

I wonder if this means they will move the assessment period for grants forward by a year; I hope so as this would massively increase my grants.

Yes, it does.

They have updated the page, it had said we could claim in the first week of April, now it's going to be the second half of the month, to take into account 2019 to 2020 tax returns that should have been submitted earlier this year.

Your eligibility for the scheme will now be based on your submitted 2019 to 2020 tax return. This may also affect the amount of the fourth grant which could be higher or lower than previous grants you may have received.

It still says it will be 80% of 3 months average earnings, but not clear if that will be over 3-years as before, or now over 4 years.

This is somewhat worrying for anyone that hasn't been able to trade at all from April 2020 to March 2021.

You must also have traded in both tax years:

• 2019 to 2020 and submitted your tax return by 2 March 2021
• 2020 to 2021

You must either:

• be currently trading but are impacted by reduced demand due to coronavirus
• have been trading but are temporarily unable to do so due to coronavirus

[Withdrawn] Check if you can claim a grant through the Self-Employment Income Support Scheme

If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.

www.gov.uk

 

[wemakeyousoundb]

Yes, it does.

They have updated the page, it had said we could claim in the first week of April, now it's going to be the second half of the month, to take into account 2019 to 2020 tax returns that should have been submitted earlier this year.



It still says it will be 80% of 3 months average earnings, but not clear if that will be over 3-years as before, or now over 4 years.

This is somewhat worrying for anyone that hasn't been able to trade at all from April 2020 to March 2021.

[Withdrawn] Check if you can claim a grant through the Self-Employment Income Support Scheme

If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.

www.gov.uk

i got the email from HMRC after my post but forgot to update,
so it is going to be averaged over 4 years now,
but it does not cover the period from April 2020 to March 2021,
it adds the 2019-2020 tax year which is the one returns have just been submitted for, meaning some people who were not eligible for grants over the last year now are; unless they obviously decided to pack it in due to the lack of support and got a job elsewhere.

 

[lazythursday]

Averaged over 4 years is a relief. I only worked half the year in 19/20 so was expecting a low payment. Though work has picked up recently so could probably cope.

 

[wemakeyousoundb]

Averaged over 4 years is a relief. I only worked half the year in 19/20 so was expecting a low payment. Though work has picked up recently so could probably cope.

I'm afraid they will still count it as a full year for the averaging which is what buggered a lot of people who had started self employment sometime through 2018-19 rather than having done a full year.

 

[lazythursday]

I'm afraid they will still count it as a full year for the averaging which is what buggered a lot of people who had started self employment sometime through 2018-19 rather than having done a full year.

Yes but if it's averaged with the previous three years that's less bad than just using 19/20 figures, which is what I'd assumed was happening.

 

[cupid_stunt]

Watch out for the HHRC e-mail advising when you can claim the next grant, mine has just arrived, with a claim date of 27th April.

 

[ATOMIC SUPLEX]

No email for me yet.

 

[lazythursday]

Have had my email.

Ethical quandry on this one. It's supposed to be if you had a lack of work/income Feb-Apr 2021 and I've done ok to be honest (in terms of worked hours anyway, I don't think I've actually been paid for any of them yet). I think I'm still down a fair bit on the year though - even if I take into account the period I wasn't working by choice rather than covid. I guess I should just take the free money while it's on offer.

 

[ATOMIC SUPLEX]

Have had my email.

Ethical quandry on this one. It's supposed to be if you had a lack of work/income Feb-Apr 2021 and I've done ok to be honest (in terms of worked hours anyway, I don't think I've actually been paid for any of them yet). I think I'm still down a fair bit on the year though - even if I take into account the period I wasn't working by choice rather than covid. I guess I should just take the free money while it's on offer.

The wording is applying to a lot of different types of self employed people. When they see my taxes they just see what I earned and spent across the year (unless they want to scrutinise it more, in which case they will have to ask for my invoices and expenses (which are not provided in my return).
I did absolutely great business in the freelance weeks I was employed, but I obviously not so great on the ones I wasn't. The employed weeks were all bunched together (as they would be) but throughout the year, the non working sure did outweigh the working far more than it usually does. Take a snapshot of my two or three weeks leading up to christmas and I was doing great. Well paid work, loads of offers, more than I could handle in fact. . . . However, other than a couple of weeks at the beginning of the pandemic that's all the work I had.

Take the money, I'm fairly sure it's legitimate, I'm sure you could argue the point if you are significantly down on earnings.

 

[wemakeyousoundb]

So got the email for round 5, they have slightly changed the way they work it out now:
same criteria as for round 4 with added
"you suffered a drop in turnover during 2020-2021"
if drop in turnover is more than 30% you get the full 80% of 3 month average income,
if your drop in turnover is less than 30% than you only get 30% of 3 months average income.
You can choose which year you use as comparison.

 

[ATOMIC SUPLEX]

So got the email for round 5, they have slightly changed the way they work it out now:
same criteria as for round 4 with added
"you suffered a drop in turnover during 2020-2021"
if drop in turnover is more than 30% you get the full 80% of 3 month average income,
if your drop in turnover is less than 30% than you only get 30% of 3 months average income.
You can choose which year you use as comparison.

Looks like I'll be getting the full 80% then. Whoop whoop. I'll submit whatever year I submitted for my last self assessment. For a minute I thought they were including the previous cheques in the 30% loss, but they are not. I only had two proper jobs, maybe 11 weeks max.