S/e grant

bobbooo

deno2000 said:

surely that cant be right. i would be down around 1.5k from what i was expecting..

i thought they where not going to take into account a year where self empolyed profits was less than the paye for that year.

You're right it's not fair. You're yet another victim of a flawed scheme due to the government's decision to use the mean average of any self-employed profits even if they were partial years and so not representative of your typical yearly profits. This could be easily solved if instead of the mean they use the median pofit, and in cases like yours in which there are only 2 years of self-employment tax returns available, take the higher value. Challenge this, spread the word, this needs media attention.

colin1096

quick question if your self employed profits are below your personnel allowence areyou not entitled to the self employment grant

whizzywoo

colin1096 said:

quick question if your self employed profits are below your personnel allowence areyou not entitled to the self employment grant

No. Your self employed profits do not have to be less than your personal allowance.  It doesn't matter if you didn't actually pay any income tax on the profit. 

colin1096

thank you thats what i was worrying about

Bibbitybobbitybop

bobbooo said:

deno2000 said:

surely that cant be right. i would be down around 1.5k from what i was expecting..

i thought they where not going to take into account a year where self empolyed profits was less than the paye for that year.

You're right it's not fair. You're yet another victim of a flawed scheme due to the government's decision to use the mean average of any self-employed profits even if they were partial years and so not representative of your typical yearly profits. This could be easily solved if instead of the mean they use the median pofit, and in cases like yours in which there are only 2 years of self-employment tax returns available, take the higher value. Challenge this, spread the word, this needs media attention.

Not sure "victim" is the best word to use when talking about someone being given a bit less free money than they feel entitled to under a scheme that could easily never have been implemented in the first place.

ltmf

I went from being employed to self employed in september 2017. So will i loose money in this grant because i started a bit later in the tax year 

Michael_Young

Not sure if anyone else in this situation, I’m waiting for my slot to apply. I have submitted two years of tax returns, my 2017/2018 return was all PAYE, but I submitted it as I had expenses over £2500 to claim. My 2018/2019 return was a little PAYE and then majority self employment. I am hoping since I said I had no self employment in 2017/2018 they will average over 12 months my self employment earnings from 2018/2019, rather than 24 months. Anyone else had a similar situation?

slacky1230

Bibbitybobbitybop said:

bobbooo said:

deno2000 said:

surely that cant be right. i would be down around 1.5k from what i was expecting..

i thought they where not going to take into account a year where self empolyed profits was less than the paye for that year.

You're right it's not fair. You're yet another victim of a flawed scheme due to the government's decision to use the mean average of any self-employed profits even if they were partial years and so not representative of your typical yearly profits. This could be easily solved if instead of the mean they use the median pofit, and in cases like yours in which there are only 2 years of self-employment tax returns available, take the higher value. Challenge this, spread the word, this needs media attention.

Not sure "victim" is the best word to use when talking about someone being given a bit less free money than they feel entitled to under a scheme that could easily never have been implemented in the first place.

Let's be honest is this going to be free money? Its to help people get by but in the end everyone will be paying it back and alot more with tax hikes etc 

Jeremy535897

Michael_Young said:

Not sure if anyone else in this situation, I’m waiting for my slot to apply. I have submitted two years of tax returns, my 2017/2018 return was all PAYE, but I submitted it as I had expenses over £2500 to claim. My 2018/2019 return was a little PAYE and then majority self employment. I am hoping since I said I had no self employment in 2017/2018 they will average over 12 months my self employment earnings from 2018/2019, rather than 24 months. Anyone else had a similar situation?

If you mean you had to file a tax return to claim expenses against your income subject to PAYE in 2017/18, and did not start self employment until after 5 April 2018, 2017/18 is irrelevant and your grant will be averaged using 12 months only.

bobbooo

Bibbitybobbitybop said:

bobbooo said:

deno2000 said:

surely that cant be right. i would be down around 1.5k from what i was expecting..

i thought they where not going to take into account a year where self empolyed profits was less than the paye for that year.

You're right it's not fair. You're yet another victim of a flawed scheme due to the government's decision to use the mean average of any self-employed profits even if they were partial years and so not representative of your typical yearly profits. This could be easily solved if instead of the mean they use the median pofit, and in cases like yours in which there are only 2 years of self-employment tax returns available, take the higher value. Challenge this, spread the word, this needs media attention.

Not sure "victim" is the best word to use when talking about someone being given a bit less free money than they feel entitled to under a scheme that could easily never have been implemented in the first place.

Victim has various definitions. The the one I used was "a person who has come to feel helpless and passive in the face of misfortune or ill-treatment" (Oxford English Dictionary). That describes perfectly the situation many of us are in due to the flaws in the scheme. And no, it's not feeling 'entitled' and it's not free money. We all as tax payers have, are and will pay for this over our lifetime. The tax system and welfare state are effectively collective payment by citizens for public services and insurance against hardship and ill-health by the government. Is it free money when an insurance firm that you've been paying money into over your lifetime pays out in the event of an accident? If they only payed out half what they promised would you just lay down, take it and tell them how grateful you are for their generosity?