Corona Virus Government Grants

[Vendition Ltd]

Hi everyone,

How are you all holding up during these times?

I’m quite worried how long this will all go on for, I have a young family to support and the business is our only source of income.

I wanted to ask if anyone knew if we would be entitled to any of the grants they have announced or any help at all?

I see that we will be able to apply for a 12 month interest free loan which I will apply for on Monday

I don’t know what I should do, I clearly won’t be working for a month so should I go and apply for job seekers allowance? Or statutory sick pack as I am in self isolation because my wife if pregnant? I’m confused what help is out there for us?

I have frozen the mortgage payments for 3 months

Phone wouldn’t stop yesterday from sites asking me to come and collect the machines. I told them to keep them until they re-open but they were telling me they were using the time to have a deep clean/ decorate so wanted everything out. I simply don’t have the space to store the machines

I’m using the time to fix machines in the garage/ decorate the house and spend time with the kids but it’s all over shadowed with worry unfortunately

Hope you all keeping well

Best Regards

Ross

[Bert]

Hi Ross

Sorry to hear this, it might be a good idea to get in touch with your accountant see if they have any info on the Gov grants, as for benefits I would just apply for everything you can over the phone or online if its possible to do it that way, worse they can say is no or ask you to pay back anything given to you in error, but if you're entitled to something. Payments used to be backdated to the application date. Even if they say no they should be able to point you in the right direction for help.

Have a look at the Nextdoor site, full of (local to you) communities with lots of people offering all sorts of help & advice to those living local to them, who cannot get out due to isolation.

I know its easy for me to say but the most important thing is to remain calm and look after you wife and little ones.

I'm sorry if that is not much help to you, its been decades since I had any dealings with the benefits agency, but I'm pretty sure that the quicker you get in touch with them and the ball rolling the better.

Good luck and all the best.

Let us know how you get on

[Siting Services]

As at today's date, there is very little for the self employed, but my gut feel is that has to change to mirror what has been offered to staff.

The £10k grant is only applicable to those in premises with rateable value and you have to apply to your local authority.

Self employed will gain access to the equivalent of SSP which is very little and has been raised to £5,000 - I am not sure if this is means tested though?

The whole country is affected and measures I am sure will be in place to safeguard all, it has to.

All we can do is keep watching the daily Government reports and see what they offer.

[Style]

Ross, Might be worth getting a job as a delivery driver in the meantime. Loads of people advertising. Also my top tip get yourself on money supermarket and get and interest free credit card. I got 11k with 27 months to pay it back.

[DT Vending]

Hi Vendition, I may be wrong but have heard that LTD companies are entitled to more that Sole traders / Self employed So check with your accountant.
I am no expert in this field at all as i have never had to claim any benefits prior to this, But i believe you need to complete an application for Universal Credits
https://www.gov.uk/apply-universal-credit
as these deal with any benefits that you are entitled to. You can also apply for the 3 month mortgage break with your mortgage company / 3 month rent relief if you are renting. You can also apply for council tax reduction through your local council.
Hope this helps in these worrying times.
Maybe if any one else has any further help / guidance they could post this here for everyone to see ?

[DT Vending]

Also dont forget to cancel any non necessary subscriptions that you pay for ie spotify, Netflix amazon prime etc etc. And its a good time to get on money supermarket to look for the best energy deals, entertainment deals etc. I have saved £60 a month so far on sky and Gas and elec. Hoping to get Sky down again from £60 for phone line, Broadband, Basic tv package without HD and an additional box in another room. Will call tese today and advise them Virgin can do me a better price !!!!

[Bert]

A 0% credit card can be good as a short term stop gap. Just remember you still need to make the minimum monthly payment otherwise you might forfeit the 0% deal & just create more problems. If your sole income has just been cut to 0, then bear in mind that it is always easier to spend someone else's money & it soon racks up, after all that's what the CC companies are banking on. I suspect most have fallen into that trap at one time or another, I know I have. In my opinion others may well disagree and that's fine, its best to try every other avenue before signing up for any CC/loan deal.

[Vendition Ltd]

Hi Ross

Sorry to hear this, it might be a good idea to get in touch with your accountant see if they have any info on the Gov grants, as for benefits I would just apply for everything you can over the phone or online if its possible to do it that way, worse they can say is no or ask you to pay back anything given to you in error, but if you're entitled to something. Payments used to be backdated to the application date. Even if they say no they should be able to point you in the right direction for help.

Have a look at the Nextdoor site, full of (local to you) communities with lots of people offering all sorts of help & advice to those living local to them, who cannot get out due to isolation.

I know its easy for me to say but the most important thing is to remain calm and look after you wife and little ones.

I'm sorry if that is not much help to you, its been decades since I had any dealings with the benefits agency, but I'm pretty sure that the quicker you get in touch with them and the ball rolling the better.


Good luck and all the best.

Let us know how you get on

Hi Bert, thanks for your reply. I literally cant get through to anyone on the phones! Everyone must be trying the same thing. I will try at the end of the week to see if things calm down.

Nextdoor site looks good I will check it out.

My wife is doing a great thing keeping the kids entertained each day but it's definitely not easy! Our saving grace is that we have a Labrador so drive to the woods each day to walk him.

Ross, Might be worth getting a job as a delivery driver in the meantime. Loads of people advertising. Also my top tip get yourself on money supermarket and get and interest free credit card. I got 11k with 27 months to pay it back.

Cheers Andy, I am looking around for delivery jobs at the moment, my only issue is that my wife is due un 10 weeks time and it is by C-Section and apparently it can be very dangerous if you have this virus while in labour/under operation so I am worried about bringing the virus into the house as time gets closer to due date.

I took your advice and applied for a Tesco 0% Credit card last night, I got a 4k limit with 12 months interest free. Only problem is the 0% only qualifies for purchases made in the first 3 months.

Also dont forget to cancel any non necessary subscriptions that you pay for ie spotify, Netflix amazon prime etc etc. And its a good time to get on money supermarket to look for the best energy deals, entertainment deals etc. I have saved £60 a month so far on sky and Gas and elec. Hoping to get Sky down again from £60 for phone line, Broadband, Basic tv package without HD and an additional box in another room. Will call tese today and advise them Virgin can do me a better price !!!!

Thanks for your reply, I am going through all my outgoings thoroughly and will shop around for switching phone/internet package as I am out of contract.

Hi Vendition, I may be wrong but have heard that LTD companies are entitled to more that Sole traders / Self employed So check with your accountant.
I am no expert in this field at all as I have never had to claim any benefits prior to this, But i believe you need to complete an application for Universal Credits
https://www.gov.uk/apply-universal-credit
as these deal with any benefits that you are entitled to. You can also apply for the 3 month mortgage break with your mortgage company / 3 month rent relief if you are renting. You can also apply for council tax reduction through your local council.
Hope this helps in these worrying times.
Maybe if any one else has any further help / guidance they could post this here for everyone to see ?

I have applied for the 3 month mortgage holiday, I think their is more to be announced regarding help for self employed in the meantime please sign this petition

https://www.change.org/p/uk-government- ... s-pandemic

I am a limited company and pay myself and my wife £702.00 per month and then take the rest of profits at the end of the year as dividends. Do you think I am entitled to 80% of the £702.00 from the government?

Hope your all keeping well and hanging in there!

Kind regards

Ross

[PGBrew]

I'm not self employed. I'm a Director of a Limited Company. Until last year, when I picked up my government pension, I was also an employee on £10K (tax free but you would pay about £250 NI) per year. With this status anyone here would qualify for the 2/3 of salary being handed out by the government.

The advantages of the above: Use of up to £12K Employee tax free allowance. Only pay 19% Corporation Tax on the remaining profit.

So how many are people are truly self employed? How many head up their own Limited Company?

Pete

[Coin Operated Group]

I believe mortgage companies class directors of own company as self employed for some reason


'With this status anyone here would qualify for the 2/3 of salary being handed out by the government.' what do you mean pete?