New Posts For Thread: Claiming the self employed £2.5k per month...https://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-monthJust wondering if I might qualify, seeing as my income is now zilch, as a result of Covid-19this may come as a shock to dickie branson and Jamie oliver but me and the wife are using our own savings, how revolutionary is that , cant see it catching on,https://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063437#559063437this may come as a shock to dickie branson and Jamie oliver but me and the wife are using our own savings, how revolutionary is that , cant see it catching on,Fri, 27 Mar 2020 13:47:43 -0500I'm an employee, wfh on full salary (for now!). Our gravy is SMBs so there will be some collateral damage to the business.https://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063375#559063375I'm an employee, wfh on full salary (for now!). Our gravy is SMBs so there will be some collateral damage to the business.Fri, 27 Mar 2020 13:39:26 -0500Very prudent Cider. If you don't mind me asking are you an employee/sole trader able to benefit from new rules or have you been shafted. I've been fortunate able to work from home.https://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063269#559063269Very prudent Cider. If you don't mind me asking are you an employee/sole trader able to benefit from new rules or have you been shafted. I've been fortunate able to work from home.Fri, 27 Mar 2020 13:14:29 -0500I personally pay 40% of my intended pension contributions into a S&S ISA wrapper, into the same funds as my SIPP for this very reason. I'll still get the tax back when I switch it to the sipp, but I can access the ISA in an emergency. This is outsidehttps://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063203#559063203I personally pay 40% of my intended pension contributions into a S&S ISA wrapper, into the same funds as my SIPP for this very reason. I'll still get the tax back when I switch it to the sipp, but I can access the ISA in an emergency. This is outsideFri, 27 Mar 2020 13:03:47 -0500I hope post this we all can appreciate a bit more freedom, availability of food and fresh air. Monetary advantage is no guarantee of safety or health.https://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063155#559063155I hope post this we all can appreciate a bit more freedom, availability of food and fresh air. Monetary advantage is no guarantee of safety or health.Fri, 27 Mar 2020 12:53:19 -0500Yep, that's why Cider. There are a lot of electricians, plumbers etc.. Who may only make say 30k a year, and a lot trade as companies more for prestige than tax purposes. It is these guys who are being shafted by this rule now, I know personally at lhttps://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063125#559063125Yep, that's why Cider. There are a lot of electricians, plumbers etc.. Who may only make say 30k a year, and a lot trade as companies more for prestige than tax purposes. It is these guys who are being shafted by this rule now, I know personally at lFri, 27 Mar 2020 12:49:11 -0500Plenty of sal sac of course! That's why it would be handy to have emergency access to pension pots.Can they not perform director duties effectively away from the payroll then? In real life they will be. I suppose that's the sticking point if a furlouhttps://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559063045#559063045Plenty of sal sac of course! That's why it would be handy to have emergency access to pension pots.Can they not perform director duties effectively away from the payroll then? In real life they will be. I suppose that's the sticking point if a furlouFri, 27 Mar 2020 12:39:41 -0500Cider,the thinking behind it is, if the directors of the company are furloughed as well as the employees, who will carry out the day to day running of the company, ie. No one, thus company will be deemed insoluble.A lot of people set up companies tohttps://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559062987#559062987Cider,the thinking behind it is, if the directors of the company are furloughed as well as the employees, who will carry out the day to day running of the company, ie. No one, thus company will be deemed insoluble.A lot of people set up companies toFri, 27 Mar 2020 12:31:32 -0500I don't work in practice but I'm familiar with the 'workarounds'! In all the literature I've seen, all PAYE employees are eligible. What's the legislation that determines that if a director under PAYE being furloughed means the company is deemed insohttps://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559062909#559062909I don't work in practice but I'm familiar with the 'workarounds'! In all the literature I've seen, all PAYE employees are eligible. What's the legislation that determines that if a director under PAYE being furloughed means the company is deemed insoFri, 27 Mar 2020 12:20:30 -0500Yeah Cider, nearly all company directors take a minimum wage salary, simply to cover their stamp for pension and also they don't crack the 20% tax band, thus for good tax purposes a good profitable company will pay their directors a quarterly or annuhttps://community.betfair.com/chit_chat/go/thread/view/94038/31637253/claiming-the-self-employed-25k-per-month?post_id=559062623#559062623Yeah Cider, nearly all company directors take a minimum wage salary, simply to cover their stamp for pension and also they don't crack the 20% tax band, thus for good tax purposes a good profitable company will pay their directors a quarterly or annuFri, 27 Mar 2020 11:51:20 -0500