Self Employed - Does Anyone Have Backup?

monetxchange

I didn't have payment protection insurance in place. Again, kept meaning to, but it seemed to expensive at the time. But I'm now seeing scores is self employed people who are being told the insurer won't pay out because it doesn't cover pandemics and work drying up or self isolating doesn't count as you being unable to work etc. Rock and a hard place comes to mind.

I put aside every month just in case, but that'll only tide me over so long. Many of us are freelancers or "contractors", the kind IR35 was supposed to help but inevitably doesn't. We're working for one company all the time, so employees without the benefits. I just do a self assessment every year. There wasn't and isn't any complex "setting up a business" process or advice.

The gig was predicted to be the future of this country's workforce, but it can't be relied on to help boost the economy when it suits them and throw us under the bus when it gets hard. Strange times for all indeed.

ffc58

I would hope everyone like me files a tax return like me and pays their tax and NI.
I m hearing someone in the government is saying it is complicated to pay the 80%
compensation of salary to self employed workers .Why?
Just look at 18/19 tax return divide the profit by 12 for each month.
or go further back and take an average of more previous years.
and pay that minus 20% for monthly compensation .
How is that complicated?
This Universal Credit is a farce .
And not available if you have savings over £16000.
I work in the exhibition and trade show industry not just in Uk  and this may never recover 
to where it was.
Very worrying times .