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UK cab trade debate and advice
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PostPosted: Tue Aug 25, 2020 12:54 pm 
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StuartW wrote:
All good, though, but that'll no doubt be the last of the handouts.

...So problem now is the £2/hour shifts :cry:

To be fair, I have had a couple of reasonable shifts, but most of the pubs, restaurants and hotels here still shut. On the plus side, cab numbers still well down on pre-Covid.

As well as some part-time/semi-retired drivers giving up, some have been doing Deliveroo and Amazon work during lockdown, so while some will no doubt be back, I suspect others won't be.

Suspect it'll take at least another year until we find out what the new norm actually looks like :-|


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PostPosted: Tue Aug 25, 2020 2:21 pm 
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StuartW wrote:
edders23 wrote:
simples your turnover figures this year and last :roll:

Don't want to go through all this again, but would advise against a career change to audit or tax compliance etc :-s

But if all HMRC wanted was the stuff you would normally record or submit to them anyway, why would they specifically ask claimants to "keep a record of evidence of how your business has been adversely affected"? [-(

I suspect it's aimed at less obvious cases like tradesmen and people who worked from home anyway, and not at more self-evident claimants like taxi drivers. But you never know 8-[


In the original guidance it did say that you had to record any payments in your accounts.


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PostPosted: Tue Aug 25, 2020 2:35 pm 
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heathcote wrote:
In the original guidance it did say that you had to record any payments in your accounts.

The SEISS grant payments? Yes, they have to be recorded because they're part of taxable income.

But my point was about turnover and expenditure that would normally would be recorded anyway, so I don't understand your point.


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PostPosted: Thu Sep 24, 2020 12:39 pm 
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EXTRA HELP Self employed grant scheme to be extended Rishi Sunak announces in Winter Economy Plan

https://www.thesun.co.uk/money/12756125 ... -extended/

MILLIONS of small businesses will get extra support from the government after Rishi Sunak announced he is extending the self-employed grant scheme.

The Chancellor confirmed the financial lifeline as part of his wider Winter Economy Plan to help prop up the economy.

The new self-employed grant will cover 20% of average monthly profits, up to a total of £1,875, spanning November to January next year.

An additional second grant will also be available for self-employed workers to cover February 2021 to the end of April.

The government hasn't said how much this second grant will cover.

Businesses will be eligible for the new help if they previously qualified for the self-employment income support scheme (SEISS) and if they're actively trading, even if they're facing reduced demand.

Today, the Chancellor announced:

    Part-time furlough with third of wages paid
    Cheaper hols and meals out until March due to VAT cut extension
    Extra time for businesses to pay Bounce Back Loans
    Self-employment grants extended and more time to pay tax bills
    VAT bills deferred or split over 11 months
    All coronavirus loans for businesses extended until end of 2021

For the previous grants, only those who made less than £50,000 a year in profit between the 2016 and 2018 tax years were eligible to claim the funds.

Payments were based on 80% of average earnings - up to £2,500 a month.

The first SEISS grant was worth 80% of three months' profits - covering March, April and May. - up to a cap of £7,500 in total, or £2,500 per month.

While the second grant covered up to 70% of profits over three months again - June, July, and August - worth up to £6,750 in total.

SEISS has helped around 2.6million self-employed small businesses get back on their feet following the coronavirus pandemic.

The government hasn't said when applications will open for the new set of SEISS grants.

Unveiling his new package of support in the House of Commons today, the Chancellor also confirmed the new Jobs Support Scheme as a replacement of furlough.

The new measure will see the government top up the wages of people working at least a third of their normal hours.

Employees will be paid for that work as normal, with the state and employers then increasing those wages to cover two-thirds of the pay they have lost by working reduced hours.

The Chancellor has also today given struggling businesses more time to pay back bounce back loans with a new Pay As You Grow initiative.

As part of the new measure, small businesses will be able to extend bounce back loan terms from six to 10 years, nearly halving the average monthly repayment.

Firms can also choose to make interest-only repayments, while firms in real trouble can apply to suspend repayments altogether for six months.

Businesses will have until the end of November to apply for the state-backed loans introduced during the first few months of lockdown.

The Chancellor also extended his VAT (value added tax) cut until March 31, meaning cheaper holidays and meals out for Brits.

VAT was slashed from 20% to 5% for the hospitality industry as part of Mr Sunak’s mini-Budget on July 8.

The tax cut was due to remain in place until January 12, 2021.

Mr Sunak and Prime Minister Boris Johnson had promised "creative" schemes to make sure businesses are still supported throughout the pandemic.

Mr Sunak said: "These are radical interventions in the UK labour market. These are policies never tried in this country before.

"The resurgence of the virus, and the measures we need to take in response, pose a threat to our fragile economic recovery."

But he acknowledged "we can't save every business" and "we can't save every job".

Dame Carolyn Fairbairn, CBI Director-General, said: “These bold steps from the Treasury will save hundreds of thousands of viable jobs this winter.

"It is right to target help on jobs with a future, but can only be part-time while demand remains flat. This is how skills and jobs can be preserved to enable a fast recovery."

The latest bailout comes as confirmed new coronavirus cases soared above 6,000 yesterday— the highest daily number since May 1.

There is already some targeted help for businesses in lockdown areas - who can claim grants to help keep them going.

Trade unions and organisations have been urging the government to rethink plans to end furlough to avoid a second wave of job cuts.


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PostPosted: Thu Sep 24, 2020 12:57 pm 
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My thread title is maybe a tad inaccurate, because I don't think the eligible percentage has been announced for the second three months, but the first three months are 20%. So should simply be a quarter of the *first* grant that was paid back in May.

There's also another scheme to extend the bounce back loans repayment terms to up to 10 years :-o

Quote:
With pay as you grow, small businesses will be able to extend bounce back loan terms from six to 10 years, nearly halving the average monthly repayment.

Firms can also choose to make interest-only repayments, while firms in real trouble can apply to suspend repayments altogether for six months.

Mr Sunak said credit ratings of businesses won't be affected.


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PostPosted: Thu Sep 24, 2020 6:38 pm 
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The reality for many drivers in our trade is that the 80 and 70 percent grants didn't cover the bills and savings are being exhausted.

so 20 percent which for many in our trade will amount to just £50 a week or less certainly will not be enough.

A scheme to get people to give up the trade and seek a more sustainable living might have been more realistic! Bad for the plate barons but probably better for the long term health of the trade.

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PostPosted: Thu Sep 24, 2020 7:11 pm 
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edders23 wrote:
The reality for many drivers in our trade is that the 80 and 70 percent grants didn't cover the bills and savings are being exhausted.

so 20 percent which for many in our trade will amount to just £50 a week or less certainly will not be enough.

A scheme to get people to give up the trade and seek a more sustainable living might have been more realistic! Bad for the plate barons but probably better for the long term health of the trade.


Those (owner/drivers)who were ineligible for the previous grants are still not going to receive any support of any description and as a result are probably going to be forced out of business.


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PostPosted: Thu Sep 24, 2020 8:47 pm 
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So the first payment was 80% to cover March/April/May.

The second payment was 70% to cover June/July/August.

The third payment will be 20% to cover November/December/January.

The forth payment will be ?% to cover February/March/April 2021.

I'm interested to know exactly what self-employed folks were meant to do in September and October of this year?

Maybe live on fresh air?

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PostPosted: Thu Sep 24, 2020 8:52 pm 
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Quote:
The reality for many drivers in our trade is that the 80 and 70 percent grants didn't cover the bills and savings are being exhausted.

so 20 percent which for many in our trade will amount to just £50 a week or less certainly will not be enough.

I think the reality of the issue is that the trade has to understand that 80%/70%/20% of something is better than 100% of f*** all.

If folks can't earn out of this trade then they will have to find another trade or apply for social benefits.

This has been the case since the year dot.

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PostPosted: Thu Sep 24, 2020 9:37 pm 
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Sussex wrote:
I'm interested to know exactly what self-employed folks were meant to do in September and October of this year?

Ah, but business is booming just now :---)


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PostPosted: Fri Sep 25, 2020 4:59 am 
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Sussex wrote:
So the first payment was 80% to cover April to June not march

The second payment was 70% to cover July to September

The third payment will be 20% to cover a 6 month period to top up their earnings as it is assumed they will be working but still taking 60 percent of their normal take

corrected for accuracy :wink:

I'm interested to know exactly what self-employed folks were meant to do in September and October of this year?

Maybe live on fresh air?


I think the government assumptions about earnings are off and maybe a more targeted amount on a trade by trade basis might be more appropriate

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PostPosted: Fri Sep 25, 2020 10:19 am 
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Edders wrote:
I think the government assumptions about earnings are off and maybe a more targeted amount on a trade by trade basis might be more appropriate

Indeed, but it was very crude from the kick off, and would probably be an utter nightmare to adminster on a more specific basis.

As I said months ago, some self-employed probably barely affected by it all, but still able to claim.

Doubt if many in the taxi/PH trade in that boat, but I daresay there's one or two.

But whole thing's a huge exercise for government as it is, never mind being more specific about trades and individuals etc.

By the way, eventually managed to work out what you were saying to Sussex via the quote - not confusing at all :roll: :badgrin:


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PostPosted: Fri Sep 25, 2020 6:40 pm 
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I got sent this via email.

It's an online lobby of your local MP to try and raise the 20% for self-employed folks.

https://platform.organise.org.uk/campai ... _88BOp3Asc

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PostPosted: Fri Sep 25, 2020 9:01 pm 
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Sussex wrote:
Quote:
The reality for many drivers in our trade is that the 80 and 70 percent grants didn't cover the bills and savings are being exhausted.

so 20 percent which for many in our trade will amount to just £50 a week or less certainly will not be enough.

I think the reality of the issue is that the trade has to understand that 80%/70%/20% of something is better than 100% of f*** all.

If folks can't earn out of this trade then they will have to find another trade or apply for social benefits.

This has been the case since the year dot.



I quite agree, 20% of someting is better that poked in the eye with a sharp stick.

And a 4 year extension to the BBL repayment will further help all of us.


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PostPosted: Wed Sep 30, 2020 11:23 am 
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so SEISS-3 will be 1/4 what SSEI-1 was...

oh well, que sera sera

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