Mr Sunak has extended furlough til October [emoji50]
UK furlough scheme extended by four months bbc.co.uk/news/business-52634759
Sent while in furlough
Very good news.
I’m back in work next Monday but I think now this has been released i’ll be furloughed again after the 3 weeks or whatever it is is up. Very good chance i’ll be facing redundancy in October.
Don’t mention the furlough Pike
You’ll only set him off again…
Suppose its one way of reducing traffic jams, pay people not to work long enough for thousands of small to medium businesses to be beyond saving, who says big business doesn’t own govts 
Oh god, that means this thread will quickly be turned into 15 pages of Winseer ranting about not getting any furlough payments.
peirre:
Don’t mention the furlough Pike
Talking of such and Ltd agency drivers (no idea if Winseer is). I had to try not to smile when they were interviewing other businesses owners usually selling expensive products, who were paying themselves with the same tricks of dividends etc. to avoid tax.
Then wailing that the help scheme was based on tax paid not money in bank and how unfair it was. So its not just some drivers who are their own worst enemy.
tmcassett:
Oh god, that means this thread will quickly be turned into 15 pages of Winseer ranting about not getting any furlough payments.
Don’t mention He who must not be named [emoji6][emoji23][emoji23][emoji23]
Sent while in furlough
trevHCS:
peirre:
Don’t mention the furlough Pike
Talking of such and Ltd agency drivers (no idea if Winseer is). I had to try not to smile when they were interviewing other businesses owners usually selling expensive products, who were paying themselves with the same tricks of dividends etc. to avoid tax.
Then wailing that the help scheme was based on tax paid not money in bank and how unfair it was. So its not just some drivers who are their own worst enemy.
You will be pleased to know that Ltd companies and sole traders have last week been issued with loans of up to £50k by the government.
These loans are based on neither tax paid nor turnover, as they are self certified on application to the bank with no checks for business account holders.
These loans are 100% guaranteed by the government, so the banks don’t care and rake in the fees (£250 setup fee and 2.5% interest).
£5 billion was lent in the first three days, probably double that now, and a significant if not majority amount of these loans will default.
So we and our children will be paying for this scheme, along with all the other schemes that are piling debt upon debt and delaying the inevitable.
Along with the significant amount of firms that will never reopen, or massively scaled back, the furlough extension feels less of a staggered reopening than a controlled decimation.
What’s this furcoat, everyone’s going on about??
biggriffin:
What’s this furcoat, everyone’s going on about??
The 80% thing
Sent while in furlough
October? 
Wish tf mine had been, I’m back in tomorrow after 6 weeks.
I know you weren’t meant to enjoy it, but what the hell. 
I was talking to another driver at where I work, he’s been furloughed 5 weeks now and said he’s climbing the walls. I’m still working, but I said to him tomorrow it all changes as such, you can now go to garden centre, day trips out, see your friend/relative etc. It’s surly going to be better now if you’re on furlough?
I’m chomping at the bit to be sent home for a few weeks, plenty of jobs and bike riding to be done.
Sent from my Pixel 3 using Tapatalk
I’ve been talking to the agency line manager over the last couple of days trying to wriggle out of them imposing paid holidays, despite having to accept that they have won that argument and I’ve got to take at least 1 days holiday next week.
The discussion got around prospects of resuming work, and how they see the future. It seems there’s been a few adhoc shifts for a couple of Ltd Co limpers which has given them some income, & has enabled them to keep the few PAYE limpers on furlough but with the slow phased resumption of work at the nearby depot, there hasn’t been the expected need for limpers.
I was actually under the impression earlier this week that maybe I would be back at work towards the end of the month, this is presumption was incorrect.
Time to dust off the sun lounger, dig out the budgie smugglers and order a couple of gallon of factor 20 and it looks like it I could be in for the long haul
blue estate:
biggriffin:
What’s this furcoat, everyone’s going on about??The 80% thing
Sent while in furlough
An 80% furcoat, me blooming Harris and vegetables be hanging out…
robroy:
October?
Wish tf mine had been, I’m back in tomorrow after 6 weeks.
I know you weren’t meant to enjoy it, but what the hell.
…If anyone isn’t back at work already by October - there won’t be any jobs left over to come back TO.
I was never Ltd driver btw, and have not done an agency shift since 29th March. I have found a way to make up 80% of my prior income though, but I won’t be talking about that on here, because
(a) It’ll make me more unpopular
(b) No one is interested
(c) By the time you are interested, there won’t be an arbitrage channel left that you can fit a ■■■ paper into… 
idrive:
trevHCS:
peirre:
Don’t mention the furlough Pike
Talking of such and Ltd agency drivers (no idea if Winseer is). I had to try not to smile when they were interviewing other businesses owners usually selling expensive products, who were paying themselves with the same tricks of dividends etc. to avoid tax.
Then wailing that the help scheme was based on tax paid not money in bank and how unfair it was. So its not just some drivers who are their own worst enemy.
You will be pleased to know that Ltd companies and sole traders have last week been issued with loans of up to £50k by the government.
These loans are based on neither tax paid nor turnover, as they are self certified on application to the bank with no checks for business account holders.
These loans are 100% guaranteed by the government, so the banks don’t care and rake in the fees (£250 setup fee and 2.5% interest).
£5 billion was lent in the first three days, probably double that now, and a significant if not majority amount of these loans will default.
So we and our children will be paying for this scheme, along with all the other schemes that are piling debt upon debt and delaying the inevitable.
Along with the significant amount of firms that will never reopen, or massively scaled back, the furlough extension feels less of a staggered reopening than a controlled decimation.
I don’t think the bank’s are quite in the “couldn’t give a toss about it” category.[emoji3] Before they can get the guaranteed funds from the Gov (not gonna be easy) they must go through all the usual channels to get the funds from the debtor. That’ll end in grief for some chancers, and cost the banks too.
As with all schemes, it isn’t perfect.
I was wondering if Phillip Phlop the Ltd Co agency limper might chance their arm and apply for a government loan, then once the money is in the bank grab the next available flight out of Blighty with the money in the back pocket.
idrive:
You will be pleased to know that Ltd companies and sole traders have last week been issued with loans of up to £50k by the government.
These loans are based on neither tax paid nor turnover, as they are self certified on application to the bank with no checks for business account holders.
Err wrong. They’re actually based on turnover and you can only get a maximum of 25% of your turnover up to a maximum loan value of £50k. So for your typical Ltd co driver they’ll get maybe £8k-£10k tops. You also have to prove that turnover and posts on forums such as Moneysaving Expert from people who have been turned down have already appeared. Not only that you have to pay the money back and the government will only compensate the banks once they’ve exhausted all usual legal avenues to recover the money so without a CCJ they’re unlikely to be able to put in a claim to HM Treasury.
Meanwhile the Ltd Co driver who wasn’t using the low pay and dividends model will be getting 80% of what they declared, able to furlough themselves as long as they wish and without having to pay a single penny of it back. In addition to that they’ll also be able to apply for the same Bounce Back Loan as the tax dodgers you mentioned.
tmcassett , if you’re worried about Winseer turning it into 15 pages , Carryfast will be along shortly to make it 20 pages involving the CCP , A Frame trailers and driving an Austin Allegro Vandan Plas luxury model with a square steering wheel and luxury leather stitching .
Please don’t mention British Leyland or Arthur Scargill .
Conor:
idrive:
You will be pleased to know that Ltd companies and sole traders have last week been issued with loans of up to £50k by the government.
These loans are based on neither tax paid nor turnover, as they are self certified on application to the bank with no checks for business account holders.Err wrong. They’re actually based on turnover and you can only get a maximum of 25% of your turnover up to a maximum loan value of £50k. So for your typical Ltd co driver they’ll get maybe £8k-£10k tops. You also have to prove that turnover and posts on forums such as Moneysaving Expert from people who have been turned down have already appeared. Not only that you have to pay the money back and the government will only compensate the banks once they’ve exhausted all usual legal avenues to recover the money so without a CCJ they’re unlikely to be able to put in a claim to HM Treasury.
Meanwhile the Ltd Co driver who wasn’t using the low pay and dividends model will be getting 80% of what they declared, able to furlough themselves as long as they wish and without having to pay a single penny of it back. In addition to that they’ll also be able to apply for the same Bounce Back Loan as the tax dodgers you mentioned.
Err, not wrong. The point being the turnover is self certified. The banks do not check the turnover figure or do any other checks beyond the statutory AML and KYC checks which consists of a soft credit search to validate id and address.
Yes banks will have to “pursue defaulters” before passing the debt to the government but the normal rules such as CCJ will not apply to these loans and it’s likely that only a few letters sent out will be the threshold to return the debt to the government who can then collect with teeth, if the entity still exists.
The CBILS loan that preceeded this with an 80% guarantee had a 40% rejection rate by the banks on application, as these included the normal affordability and credit checks. Bounce back loans do not and the banks are handing them out to all comers with all info self certified via a check box on a form.
The only income checks carried out are for people without a business account such as sole traders who have traded through a personal account and now need to open a business account. They are being asked to provide a tax return as proof of trading. If you already had a business account in any shape or form, it’s help yourself.
The self employment grant which launches tomorrow is based on average trading profit (not turnover) over a three year period. This will be calculated by HMRC.
They will then pay 80% of this for a three month period only, so 25% of 80% of the average profit of the last 3 years tax returns.