Self employed payment

Mike Harrison said:
Cheers mate opened a business account today.do I need to send the bank my returns?
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No. All you do is log on to your online banking, then click on the Bounce Back Loan link. I’m with Barclays, it’s all there to se plainly. You put in your turnover figure for year end 2019 and you can borrow up to 25% of that figure. There are then a load of tick box questions about fraud etc. You digitally sign the form and it tells you if you’ve been approved. Money is then in bank within 1 working day.one of my builders applied and got £50k in less than 2 days. Maybe they cross ref your turnover figure with HMRC, I don’t know. Thing is, the loan is 100% guaranteed by the government so the banks have absolutely nothing to lose.
You’ll never borrow money that cheaply again.
 
There ain’t no Lads gonna get £7500
Or am I ignorant? Don’t it start from March 24th which all together comprises March 1 week, April and May 2 weeks until today? Or they just coughing up 3 full months?
 
Mouldyoldspudgun said:
You should try that again, you may have cocked a number up on your UTR or NI number. If you have been going for three years and only earning a grand a month that’s still eight hundred a month, not a lot but better than nothing
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Thanks, think I might try but if I've got a rental income at 800/mnth and/or any share divi's then it's a fail.
 
Monkey Boy said:
There ain’t no Lads gonna get £7500
Or am I ignorant? Don’t it start from March 24th which all together comprises March 1 week, April and May 2 weeks until today? Or they just coughing up 3 full months?
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Well if you've put enough through the books then yeah you'll get £7500. It's 3 months, that's been said for the last 6 weeks
 
Everyone has different days sent back on emails mine was today it all went through
Am back to work now and intend to work flat out if my body can take it
Going on holiday and returning to work is bad but this is really bad
Good luck
 
TonyM said:
No. All you do is log on to your online banking, then click on the Bounce Back Loan link. I’m with Barclays, it’s all there to se plainly. You put in your turnover figure for year end 2019 and you can borrow up to 25% of that figure. There are then a load of tick box questions about fraud etc. You digitally sign the form and it tells you if you’ve been approved. Money is then in bank within 1 working day.one of my builders applied and got £50k in less than 2 days. Maybe they cross ref your turnover figure with HMRC, I don’t know. Thing is, the loan is 100% guaranteed by the government so the banks have absolutely nothing to lose.
You’ll never borrow money that cheaply again.
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I have done it and stashed it away... not decided what I amgoing to invest it into yet but I certainly will try and double my money on 12 months and give it back completely free
 
Pl plastering said:
So robbo..playing devils advocate here,do you now see that you should be charging more than £170 to skim a bedroom ceiling regardless of wether you do it in 3 hours or not?
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Have you see this video? It sets it out plain and simple...and it's what I have been saying for years we should be charging between £30-£40 an hour MINIMUM.

This guy breaks it all down and it will come as a shock to some that charge £15-£20 an hour or £120 a day that they would be far better off employed in a job earning 20K than been self employed.

 
FreeD said:
Have you see this video? It sets it out plain and simple...and it's what I have been saying for years we should be charging between £30-£40 an hour MINIMUM.

This guy breaks it all down and it will come as a shock to some that charge £15-£20 an hour or £120 a day that they would be far better off employed in a job earning 20K than been self employed.

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13:35 he basically says if you are charging £20 an hour with absolute minimum expenses...no vehicle...you would earn more working at Macdonalds :eek:
 
Thats what most of these idiots dont realise,£120 day is not viable if you are legit.
Books in guys can get at least £15 per hour,just turning up with their tools.

Never learn
 
FreeD said:
Have you see this video? It sets it out plain and simple...and it's what I have been saying for years we should be charging between £30-£40 an hour MINIMUM.

This guy breaks it all down and it will come as a shock to some that charge £15-£20 an hour or £120 a day that they would be far better off employed in a job earning 20K than been self employed.

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Interesting video. Problem is in our trade Is the younger generation trying to start up and there’s the ones that just jump into it. It takes them years to understand they’re not charging enough and beer money won’t get you through life. That will always keep rates down.
 
Monkey Boy said:
I’ve gotta wait till 15th May to find out my wedge
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Work it out approximately
Add your last 3 years net profit together
Divide by 3 to get average
Divide by 12 to get monthly average
Multiply that fig by 80%
Then multiply that fig x3 to get 3 months = payment lump

Should give you a reasonably accurate idea

Hope I've worked that out right
 
windy said:
Work it out approximately
Add your last 3 years net profit together
Divide by 3 to get average
Divide by 12 to get monthly average
Multiply that fig by 80%
Then multiply that fig x3 to get 3 months = payment lump

Should give you a reasonably accurate idea

Hope I've worked that out right
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Subject to the £7500 cap of course
 
FreeD said:
Have you see this video? It sets it out plain and simple...and it's what I have been saying for years we should be charging between £30-£40 an hour MINIMUM.

This guy breaks it all down and it will come as a shock to some that charge £15-£20 an hour or £120 a day that they would be far better off employed in a job earning 20K than been self employed.

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Does it really take a 34 minute video for you to realise that £120 a day - £2400 a month -30k a year, then take away all the days you don't work for holidays etc and business expenses is around on par a 20k job?
 
Rossi46 said:
Interesting video. Problem is in our trade Is the younger generation trying to start up and there’s the ones that just jump into it. It takes them years to understand they’re not charging enough and beer money won’t get you through life. That will always keep rates down.
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Yep that and the black economy....this stuff really should be taught in school and as part of an apprenticeship, problem is you start off on a bad foot undercharging it can affect you for life.
 
Nath80 said:
Does it really take a 34 minute video for you to realise that £120 a day - £2400 a month -30k a year, then take away all the days you don't work for holidays etc and business expenses is around on par a 20k job?
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Ye but robbo,lets not back track here,you clearly said u would do 5 bedroom ceilings at £170 per day if you could get them as your back home by dinner time..advertising,tax,ni,insurances,materials etc.your earning jack..you clearly said that..I'm doing a artex ceiling 2x2.3 on 30th I've booked in £500 for it and got it last night..
 
Pl plastering said:
Ye but robbo,lets not back track here,you clearly said u would do 5 bedroom ceilings at £170 per day if you could get them as your back home by dinner time..advertising,tax,ni,insurances,materials etc.your earning jack..you clearly said that..I'm doing a artex ceiling 2x2.3 on 30th I've booked in £500 for it and got it last night..
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Pretty sure I said I price them around £170 as it's basically feels like a day off. You're never going to get 5 plasterboarded ceilings a week. So the rest of the week I charge for full days and earn a decent amount.

Not sure how it's got to comparing me to someone earning £120 a day, day in day out.

And tbh yes I would take 5 boarded ceilings at £170 a day. My days of grafting are done, I don't need to anymore. £2800 a month - a tank of diesel and 30 bags of plaster sounds lovely about now
 
Self employed payment
 
jamesthefirst said:
You weren’t saying that at the time Nath, you were saying we were robbing people by charging /earning £300 plus for a ceiling!
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Hes got previous for this,totally going back what he said..I'm too busy to be scrolling through endless shite of what he said.but he said he would charge £170 and bang be home before dinner time..when he gets found out he just totally spins it
 
Pl plastering said:
Hes got previous for this,totally going back what he said..I'm too busy to be scrolling through endless shite of what he said.but he said he would charge £170 and bang be home before dinner time..when he gets found out he just totally spins it
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I literally have no idea what your point is. You're acting like you've caught me out. Yes I'd charge £170 and be home by 11. I'm not disagreeing with that, and I'd charge it again and again. So what is your point?
 
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