How's people coping financially at the moment

[johnblack]

If they are still in business by then

Very true, but hopefully fully covered as deposit was paid pre-covid so covered by holiday insurance and balance paid on the credit card so should be able to claim back that way as well as having the ATOL / ABTA standard cover. Still a little risk but got to keep business moving!!

 

[Accy cyclist]

Talking to the window cleaner who does mine yesterday,he said he'd been working all through the 'don't go to work' period. He said he wasn't eligible for the furlough scheme and even if he was he couldn't wait till June to get some money off the government. Then as a self employed person with a chain of regular customers you have to consider losing many of them if you don't turn up. You have to keep the round going,come rain or shine! If I still had my window round i would've gone out,though i don't know how the customers would've reacted and then of course the shops i did would've all been closed.
A woman i know teaches (or did) music from her home. She told me that she's lost all her (about 25) pupils/customers and that she's not eligible for any financial help till June and even then,she'll only get a percentage of her 'must prove' profits.

 

[Rusty Nails]

Just had a moment's shock at the amount my investments and pension scheme funds have fallen in two months. And mine are in quite low risk categories.
Not worried about it really as I know many others worse off than me would love to be in the position that they could lose £000s in this way.

 

[Gunk]

Just had a moment's shock at the amount my investments and pension scheme funds have fallen in two months. And mine are in quite low risk categories.
Not worried about it really as I know many others worse off than me would love to be in the position that they could lose £000s in this way.

I'm in the same boat, you've just got to relax and hope they recover! Luckily most of my savings are in cash.

 

[vickster]

Ditto. After pulling a chunk out of a shares ISA at the worst possible time in March , I've been slowly moving money back in shares ISAs / moving from cash ISAs (which are pointless with interest rates so low). Having maxxed out my premium bond allowance. I'm going with low risk investments for now though.

 

[Dave7]

Just had a moment's shock at the amount my investments and pension scheme funds have fallen in two months. And mine are in quite low risk categories.
Not worried about it really as I know many others worse off than me would love to be in the position that they could lose £000s in this way.

Out of interest (sadly I cannot offer any advice) how much have they fallen % wise?
We were fortunate as we put our pot into a 5 year plan which worked very well. We then chose to transfer it to a couple of bank accounts. Virtually nil interest but theoretically safe.

 

[Chippy Dave]

Just had a call from the boss, back to work on Monday, the Monday morning alarm will be difficult after 8 weeks of getting up when I wake up

 

[johnblack]

Talking to the window cleaner who does mine yesterday,he said he'd been working all through the 'don't go to work' period. He said he wasn't eligible for the furlough scheme and even if he was he couldn't wait till June to get some money off the government. Then as a self employed person with a chain of regular customers you have to consider losing many of them if you don't turn up. You have to keep the round going,come rain or shine! If I still had my window round i would've gone out,though i don't know how the customers would've reacted and then of course the shops i did would've all been closed.
A woman i know teaches (or did) music from her home. She told me that she's lost all her (about 25) pupils/customers and that she's not eligible for any financial help till June and even then,she'll only get a percentage of her 'must prove' profits.

Seems pretty sensible that a window cleaner should be able to carry on working, very little risk more danger from falling off the ladder.

 

[screenman]

Talking to the window cleaner who does mine yesterday,he said he'd been working all through the 'don't go to work' period. He said he wasn't eligible for the furlough scheme and even if he was he couldn't wait till June to get some money off the government. Then as a self employed person with a chain of regular customers you have to consider losing many of them if you don't turn up. You have to keep the round going,come rain or shine! If I still had my window round i would've gone out,though i don't know how the customers would've reacted and then of course the shops i did would've all been closed.
A woman i know teaches (or did) music from her home. She told me that she's lost all her (about 25) pupils/customers and that she's not eligible for any financial help till June and even then,she'll only get a percentage of her 'must prove' profits.

She does not have to prove anything Accy, if she has submitted a tax return for the last 3 years she will get 80% of income or profits whichever you a want to call them.

 

[vickster]

She does not have to prove anything Accy, if she has submitted a tax return for the last 3 years she will get 80% of income or profits whichever you a want to call them.

Depends on how she's been operating, paying herself in dividend only via Ltd company, there's no provision.
The payments will be made in June to cover March-May if she qualifies. Tax payment deadlines were extended though by 3 months I believe

I've had nothing from HMRC myself paperwork wise could be because of my profit being too high, or that I have been taking dividends as well as payroll employee. (although I'm still working so don't need support)

 

[Rusty Nails]

Out of interest (sadly I cannot offer any advice) how much have they fallen % wise?
We were fortunate as we put our pot into a 5 year plan which worked very well. We then chose to transfer it to a couple of bank accounts. Virtually nil interest but theoretically safe.

Around 14% reduction, much more on the individual shares I own.

We've lost more than this on occasions, the worst being when I put £3k in a Tech ISA just before the collapse some years ago which went down to £400 in a matter of weeks.

 

[Accy cyclist]

Seems pretty sensible that a window cleaner should be able to carry on working, very little risk more danger from falling off the ladder.

There's the handling of maybe contaminated cash to consider.

 

[vickster]

Plenty of other ways to pay. Mine gets a cheque or bank transfer

 

[screenman]

Depends on how she's been operating, paying herself in dividend only via Ltd company, there's no provision.
The payments will be made in June to cover March-May if she qualifies. Tax payment deadlines were extended though by 3 months I believe

I've had nothing from HMRC myself paperwork wise could be because of my profit being too high, or that I have been taking dividends as well as payroll employee. (although I'm still working so don't need support)

I took it that she would just be a sole trader/self employed. My friends who are LTD had to apply to furlough themselves, as you know at the moment they will only get 80% of what they have paid themselves on PAYE rather than the divedend amount.

 

[screenman]

There's the handling of maybe contaminated cash to consider.

Mine gets a bank transfer.