Working tax credits self employed

FBaby

LONDONBOY123 wrote: »

There are a few things stopping my client :

1 ) No local work ( he lives in a remote hamlet )
2) Cannot relocate as has no money to move.
3) Has no internet now that Working tax credit has not been awarded- so cant even look for jobs, apart from local newspaper thats delievered every week.
4 ) No money for transport or even a second hand old bike.
5) Not even got a suit to go to interview , as has no money to buy one ( even second hand )- so probably wouldnt even get the job when wears jeans and t shirt to interview.
6) Cannot get a loan or borrow off anybody

A Catch 22- no money- no job- no money................

So how long is he going to hold on to his stuck. Does his 'magic' uncle not start to ask for his money back?

My advice is I were you would be to start building a relationship with his uncle for help. Surely if he was prepared to loan him money to start this no go business, then he must be close enough for him to help him to take steps which are much more likely to get him a proper job.

He needs to speak with uncle and ask if he can keep the money from the stock and agree to repay monthly once he has a job. He sales the jetski(s) and with the money, he takes himself to town with the first bus (or walk from 7am), makes it to the library and applies to jobs. He also start looking at rental agencies in the towns where he is applying for jobs. He makes sure he keeps the cash of the sales to be used to buy a very cheap suit on ebay, and transport to interview. In the meantime, he looks at getting rid of everything none essential in his current place.

As soon as he gets a job, he calls the places with bedsits, and secures one, with deposit from the money from the sale. Move in time, start job, earns some money, repays uncle gradually and that's the start of supporting himself.

meer53

LONDONBOY123 wrote: »

There are a few things stopping my client :

1 ) No local work ( he lives in a remote hamlet )
2) Cannot relocate as has no money to move.
3) Has no internet now that Working tax credit has not been awarded- so cant even look for jobs, apart from local newspaper thats delievered every week.
4 ) No money for transport or even a second hand old bike.
5) Not even got a suit to go to interview , as has no money to buy one ( even second hand )- so probably wouldnt even get the job when wears jeans and t shirt to interview.
6) Cannot get a loan or borrow off anybody

A Catch 22- no money- no job- no money................

In this case, you cannot help your "client" any further. He has family, you should send him in their direction for their help. How much are you charging him for your services ?

It's okay taking on a client to help them with their accounts but it sounds as though he's not going to have any accounts for you to look at really.

I know someone who lived on the street, (through no fault of their own) and they managed to get a job. If you really want to work, you will do everything in your power to get a job. The obstacles your client is presenting you with just make me think he doesn't really want to try that hard and saw the Ebay route as the easy way out.

Ebay works for lots of people, tell him to try selling something else. Then let him get on with it.

LONDONBOY123

FBaby wrote: »

So how long is he going to hold on to his stuck. Does his 'magic' uncle not start to ask for his money back?

My advice is I were you would be to start building a relationship with his uncle for help. Surely if he was prepared to loan him money to start this no go business, then he must be close enough for him to help him to take steps which are much more likely to get him a proper job.

He needs to speak with uncle and ask if he can keep the money from the stock and agree to repay monthly once he has a job. He sales the jetski(s) and with the money, he takes himself to town with the first bus (or walk from 7am), makes it to the library and applies to jobs. He also start looking at rental agencies in the towns where he is applying for jobs. He makes sure he keeps the cash of the sales to be used to buy a very cheap suit on ebay, and transport to interview. In the meantime, he looks at getting rid of everything none essential in his current place.

As soon as he gets a job, he calls the places with bedsits, and secures one, with deposit from the money from the sale. Move in time, start job, earns some money, repays uncle gradually and that's the start of supporting himself.

As previously stated.Loaning/Borrowing money is NOT an option.The stock has been sold at breakeven price, and the funds returned to his uncle.

He has nothing of anything to sell to give him a few quid ( done that many moons ago )

I will ask again- any help/tips how he can proceed in his current situation?

Thanks in advance.

meer53

He needs to change his current situation. It's not working. What more do you want anyone to say ? Why are you trying to sort this out for him ?

Poppie68

Let's just say this saga is real.......If his Uncle was good/stupid enough to loan him cash on such an obvious loser of a business adventure why on earth can't he lend him £100 for a 2nd hand bike and an interview outfit....As he obviously is not a high flyer or a go getter a cheap pair of pants,shirt and shoes will do as the kind of jobs he will be going for are not going to be expecting an Armani wearing interviewee to step through the door.

LONDONBOY123

Poppie68 wrote: »

Let's just say this saga is real.......If his Uncle was good/stupid enough to loan him cash on such an obvious loser of a business adventure why on earth can't he lend him £100 for a 2nd hand bike and an interview outfit....As he obviously is not a high flyer or a go getter a cheap pair of pants,shirt and shoes will do as the kind of jobs he will be going for are not going to be expecting an Armani wearing interviewee to step through the door.

the Uncle will not loan any more monies, as they have fallen out.

No coulda, shoulda,woulda...

I am talking about the CURRENT situation he is in. No " If's".


How does he progress in his current situation with no access to any loan/money?

dktreesea

LONDONBOY123 wrote: »

As previously stated.Loaning/Borrowing money is NOT an option.The stock has been sold at breakeven price, and the funds returned to his uncle.

He has nothing of anything to sell to give him a few quid ( done that many moons ago )

I will ask again- any help/tips how he can proceed in his current situation?

Thanks in advance.

Yes, he needs to get his stock turning over, even if he is only making a 10% profit on every sale. As he builds his business up, he will be able to afford to sit on his stock for longer, going after a better profit. There's no point having high prices because you want to make a good profit, if those prices are too high to move the stock.

meer53

dktreesea wrote: »

Yes, he needs to get his stock turning over, even if he is only making a 10% profit on every sale. As he builds his business up, he will be able to afford to sit on his stock for longer, going after a better profit. There's no point having high prices because you want to make a good profit, if those prices are too high to move the stock.

Common sense really ?

I still fail to see why someones accountant would be trying this hard to help a client. Of course there could always be more to this tale then we are being told. I also fail to see how an accountant wouldn't know the basics of profit making in business.

tomtontom

meer53 wrote: »

Common sense really ?

I still fail to see why someones accountant would be trying this hard to help a client. Of course there could always be more to this tale then we are being told. I also fail to see how an accountant wouldn't know the basics of profit making in business.

A "trainee ACCA student" does not an accountant make

LONDONBOY123

blondebubbles wrote: »

How is he currently paying rent/mortgage?

He is not paying any rent/mortgage as he lives there for free. Hence gives the lion share of the JSA for bills to the property ( GAS, electric, water, inurance etc..- even the amount he is paying is way to low ).
Only spare cash he has is £10 a week for very basic food ( £1.40 a day approx ).

Others have asked why I cant lend him a suit- we are total different sizes.