Mortgage holidays extended for up to six months

[Whorty]

I think little Scooty may be a smidge triggered He doesn't hide his emotions very well

[Mordac]

Mumsnet is Scooty's favourite

They'd tear him to pieces on Mumsnet...

Edit, NLUK beat me to it (and put it slightly better).

[GigiBronz]

People seem to be getting distractes.

Mo QE, mo furlough for everyone.

Potentially until March... so that the poor landlords don’t have to worry about income.

[Whorty]

People seem to be getting distractes.

Mo QE, mo furlough for everyone.

Potentially until March... so that the poor landlords don’t have to worry about income.

[ascender]

I've been searching but not found a specific thread yet so figured this was as good a place as any.

Caught up with a few friends on Zoom last night, as if I don't use the thing enough during the working day now, all of them contractors. Two of us haven't been impacted by the perfect storm of covid and ir35 shenanigans, but two of the guys have. One is doing ok on his archest although is now having to start dipping in to company money put aside for tax while the other is struggling having been out of work for many more months than he'd possibly have planned for.

He closed his company earlier this year as a couple of his clients have taken the stance that they won't engage PSCs any more, so he closed his ltd and went umbrella to keep money coming in. He's since seen his work dry up and not been able to pick anything else up. He's now in the strange position where he's not "enough" self-employed (no ltd) to be liable for any of the furlough assistance, but he's also not employed enough to qualify for anything either as the umbrella he was using obviously won't use the furlough scheme because they're an umbrella.

Is this right or is he being very badly advised? Seems a bit off that someone who's been paying taxes for all their working life is stuck in a weird limbo just now.

[Paralytic]

Is this right or is he being very badly advised? Seems a bit off that someone who's been paying taxes for all their working life is stuck in a weird limbo just now.

It's how things are - he's one of the many for whom no support is available other than via Universal Credit (once his assets have been burned enough to make him eligible).

[ladymuck]

I've been searching but not found a specific thread yet so figured this was as good a place as any.

Caught up with a few friends on Zoom last night, as if I don't use the thing enough during the working day now, all of them contractors. Two of us haven't been impacted by the perfect storm of covid and ir35 shenanigans, but two of the guys have. One is doing ok on his archest although is now having to start dipping in to company money put aside for tax while the other is struggling having been out of work for many more months than he'd possibly have planned for.

He closed his company earlier this year as a couple of his clients have taken the stance that they won't engage PSCs any more, so he closed his ltd and went umbrella to keep money coming in. He's since seen his work dry up and not been able to pick anything else up. He's now in the strange position where he's not "enough" self-employed (no ltd) to be liable for any of the furlough assistance, but he's also not employed enough to qualify for anything either as the umbrella he was using obviously won't use the furlough scheme because they're an umbrella.

Is this right or is he being very badly advised? Seems a bit off that someone who's been paying taxes for all their working life is stuck in a weird limbo just now.

How is he doing ok on his warchest if he's dipping into money put aside to pay taxes? That's a huge concern. Did he not consider taking out a BBL? Applications are open to the end of the month IIRC.

[Paralytic]

Deleted

[AtW]

Deleted

I saw it.

[Paddy]

I've been searching but not found a specific thread yet so figured this was as good a place as any.

Caught up with a few friends on Zoom last night, as if I don't use the thing enough during the working day now, all of them contractors. Two of us haven't been impacted by the perfect storm of covid and ir35 shenanigans, but two of the guys have. One is doing ok on his archest although is now having to start dipping in to company money put aside for tax while the other is struggling having been out of work for many more months than he'd possibly have planned for.

He closed his company earlier this year as a couple of his clients have taken the stance that they won't engage PSCs any more, so he closed his ltd and went umbrella to keep money coming in. He's since seen his work dry up and not been able to pick anything else up. He's now in the strange position where he's not "enough" self-employed (no ltd) to be liable for any of the furlough assistance, but he's also not employed enough to qualify for anything either as the umbrella he was using obviously won't use the furlough scheme because they're an umbrella.

Is this right or is he being very badly advised? Seems a bit off that someone who's been paying taxes for all their working life is stuck in a weird limbo just now.

As an employee of a limited company, you are entitled to redundancy money. It's worth seeing a really good accountant.