Off Topic Coronavirus

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sb_73 said:
Did you pay yourself out of your company? Surely that pay has to be included as ‘profit’? Or can you then apply as a business to support your employee salary? My wife, who has only just gone back into PAYE after 7 years paying herself the minimum wage and taking dividends from her company was heaving a sigh of relief (sorry). I don’t think this bloke has done you or himself any favours here. My lad has already been texting - as a 24 year old builder with a 24 year old’s lifestyle He has nothing to fall back on, he’s fortunate to have an understanding landlord who also owns the company he works for, and also to be kept afloat by us as needed. Others will be far less lucky.
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My limited company pays me minimum wage, dividends as I need it, and expenses. Profits are what's left after that. I didn't really get to hear what my options were with my PAYE and dividends, the headline was all about the 80% of profits - which wouldn't be paid til June either. It's not great. I rent out a property too to help my cashflow, and don't expect to be getting anything from that either as my tennant won't be working. As I said, thank **** I'm deemed a key worker and am able to keep going, as I don't think we'd cope on my wifes NHS salary.
 
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Tramore Ranger said:
But if you're a director of a company doesn't that make you a paye worker and not self employed? Self Employed are taxed under Schedule D Case 1 which is based on profits whereas Directors are taxed under PAYE and the Company is taxed under Corporation Tax...…..
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In a nutshell why I leave the household finances to my wife.
 
Steelmonkey said:
My limited company pays me minimum wage, dividends as I need it, and expenses. Profits are what's left after that. I didn't really get to hear what my options were with my PAYE and dividends, the headline was all about the 80% of profits - which wouldn't be paid til June either. It's not great. I rent out a property too to help my cashflow, and don't expect to be getting anything from that either as my tennant won't be working. As I said, thank **** I'm deemed a key worker and am able to keep going, as I don't think we'd cope on my wifes NHS salary.
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But you're still a paye worker not self employed...…..
 
Tramore Ranger said:
But if you're a director of a company doesn't that make you a paye worker and not self employed? Self Employed are taxed under Schedule D Case 1 which is based on profits whereas Directors are taxed under PAYE and the Company is taxed under Corporation Tax...…..
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So where do I stand as a Director of my company? Would I apply for the small business grant if I needed it?
 
Stroller said:
Both my wife and my daughter have had loss of taste and smell accompanied by chronic tiredness. Myself and my son had sore throats and coughs also accompanied by severe tiredness. There must be a chance that everyone in my household has had a mild form of the virus. Bring on the
antibody tests.
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Did you all stay inside in isolation?
 
Still ****ing the self employed over I feel.
Wait till June? Really?
Surely they could just write a cheque for the first couple of months?
I presume April and May are paid as soon as it's up and running?
Not impressed.
 
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UK deaths up 115, apparently yesterday's total was due to changing the way they collate the figures and those missed are added to today, averages around 80 each day. Grand total now 578...
 
We need some Italian mayors.
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“You understand the coffin is closed? Who’s going to see you with your hair fixed!”
 
rangercol said:
Did you all stay inside in isolation?
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No. None of us had a fever, so we had no reason to think we might have had it. Don't forget we were told at first that if you didn't have both a cough and a fever, it wasn't Corona. It's only more recently that other 'mild' symptoms have been described.
 
rangercol said:
Still ****ing the self employed over I feel.
Wait till June? Really?
Surely they could just write a cheque for the first couple of months?
I presume April and May are paid as soon as it's up and running?
Not impressed.
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My lads firm is pondering going back to work with a skeleton crew, just the ones who share the same house - about 5 tradesmen. Concluded after the announcement tonight, which is of no use whatsoever to them. Not so bad for them, as they won’t be in contact with anyone else, but was it the intention to encourage people to keep working or go back to work? I think not.
 
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Steelmonkey said:
My limited company pays me minimum wage, dividends as I need it, and expenses. Profits are what's left after that. I didn't really get to hear what my options were with my PAYE and dividends, the headline was all about the 80% of profits - which wouldn't be paid til June either. It's not great. I rent out a property too to help my cashflow, and don't expect to be getting anything from that either as my tennant won't be working. As I said, thank **** I'm deemed a key worker and am able to keep going, as I don't think we'd cope on my wifes NHS salary.
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Wrong Steels - profit is struck before dividends are paid not after
 
Stroller said:
Unless I've missed it, there's still no help for people on zero hours contracts.
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Aren’t they employees? The 80% of earnings promise applies to anyone laid off who is on PAYE, and Sunak has said that in the case of zero hours/ variable earnings, the 80% will be of an average of a few weeks, in case last week was a bad one for earnings.

So I think they are covered. Though none of these promises seem to be delivered in the very short term, not sure what anyone who is strapped for cash this week does.
 
Stroller said:
No. None of us had a fever, so we had no reason to think we might have had it. Don't forget we were told at first that if you didn't have both a cough and a fever, it wasn't Corona. It's only more recently that other 'mild' symptoms have been described.
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My missus had a cough (not dry) and a very snotty nose.
She was told to self isolate by her work 2 weeks ago.
Her work has now closed.
 
sb_73 said:
Aren’t they employees? The 80% of earnings promise applies to anyone laid off who is on PAYE, and Sunak has said that in the case of zero hours/ variable earnings, the 80% will be of an average of a few weeks, in case last week was a bad one for earnings.

So I think they are covered. Though none of these promises seem to be delivered in the very short term, not sure what anyone who is strapped for cash this week does.
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You're right, they are covered, but only if their employers can be arsed to keep them on, which will be too much trouble for most. If you are inclined to employ people at your whim, rather than give them any security of employment you're just going to lay them off.
 
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