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Anyone else had a letter saying they were overpaid SEISS? Thought it was all too good to be true, overpayment will now be added to 20/21 tax bills. Seems like a lot of people getting these letters, wondering if this was a genuine fuck up or was the apparent generosity just a way of pumping money into the economy whilst knowing it would be clawed back later?
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“On this occasion we will not reclaim these payments to avoid unnecessary hardship for taxpayers who may have already used the money.”
I can't speak as someone that's affected, but it may be worth following up if you were told it would be added to tax bills.
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sorry to hear about that.
i guess it depends what line of work you're in, but my work's remained pretty steady, to the point where i'm taking on as much as i can in anticipation of any future downturn. but i mainly work for IT firms and they tend to weather these storms reasonably well - maybe?
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2 questions.
1) "you need to include overpayment as taxable income on 20/21 tax return" - I thought that the grant had to be declared as income regardless of over-payment. Is that not the case?
2) APA Covid-Supervisor certification - are there more general ones that can apply more widely / is this worth doing as a way to get some extra cash? Anyone with any experience or tips? Essentially I'm looking at other ways to potentially earn some extra cash.
Cheers.
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My oldest client just gave us the flick. Can't justify cost blah. We've actually had a really busy month which has helped get us back on track a bit but we've had these guys on a monthly retainer since 2016 which, although relatively small, did a lot for cash flow and sleeping well. We're doing another project for another department of theirs worth 3 months and another one in December for the same but lower margins as more work involved. First world probs etc
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My reading of it is that it's just doubling for the month of November. So stays at 40% for December/Jan and averages at like 50-55 per cent or something for the period? Haven't read this but not getting my hopes up for anything more, despite being in a definite state of 'could use that right about now'.
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They've conceded. From an email just now:
Latest changes that may impact you
Yesterday, 5 November 2020, the Chancellor announced that the UK
Government is increasing the overall level of the next SEISS grant
from 55% to 80% of trading profits.This grant will cover a three-month period from the start of November
until the end of January. The UK Government will pay a taxable grant
which is based on 80% of three months’ average trading profits, paid
out in a single instalment and capped at £7,500.
_rp
CYOA
tb
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farewell-
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About
Freelance /self employed panic thread
Posted by
@Chalfie
How's everyone getting on?
I've had 4 x half days since Feb. Feeling it a bit now though I did buckle and get in on the bounce back loan. Interest free for a year so just hoping I get some work between now and then.
If anyone wants video * waves * . Got my APA Covid-Supervisor certification too which means I get to tell people off if they cough all over everyone else on set. (Not sure I needed to pass an exam to do that tbf).