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Author Topic: Help for (some of) the self-employed announcement at last - UK  (Read 26027 times)

Cat_BBW

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #120 on: 19 May 2020, 06:28:01 pm »
I applied on 14th and received it today :) Then I received an email from HMRC saying there's help for the self employed and they will be holding webinars this week on how to claim the grant. ::)

amy

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #121 on: 19 May 2020, 06:32:39 pm »
I applied on 14th and received it today :) Then I received an email from HMRC saying there's help for the self employed and they will be holding webinars this week on how to claim the grant. ::)

I got that one too :D

Cat_BBW

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #122 on: 19 May 2020, 06:50:17 pm »
I got that one too :D

LOL - I got excited thinking this was something to do with a potential future payment. No such luck.

geordie

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #123 on: 19 May 2020, 08:31:24 pm »
Just wondering if anyone’s heard back from the Business Bounce Back loan yet? I’m going to apply tomorrow via HSBC as seems to be the only one that accepts applications from people who don’t have a current business account.

Also wondering what they use the calculate your turnover, so is it the 3 years tax returns same as the grant, or can I use this years figures (19-20)? Tried to look this up but I seem to be going in circles!
« Last Edit: 19 May 2020, 08:40:35 pm by geordie »

MsRedhead

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #124 on: 19 May 2020, 08:51:20 pm »
Just wondering if anyone’s heard back from the Business Bounce Back loan yet? I’m going to apply tomorrow via HSBC as seems to be the only one that accepts applications from people who don’t have a current business account.

Also wondering what they use the calculate your turnover, so is it the 3 years tax returns same as the grant, or can I use this years figures (19-20)? Tried to look this up but I seem to be going in circles!

Yes, I got mine through Starling. Applied for an account on Sunday, got the debit card through and activated the account on Wednesday, applied for loan straight away. Had to use my turnover for the 2019 calendar year (I'm assuming that each bank may have different criteria). Approved and signed for loan on Thursday, money was in my account within 15 mins!

geordie

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #125 on: 19 May 2020, 08:53:59 pm »
Yes, I got mine through Starling. Applied for an account on Sunday, got the debit card through and activated the account on Wednesday, applied for loan straight away. Had to use my turnover for the 2019 calendar year (I'm assuming that each bank may have different criteria). Approved and signed for loan on Thursday, money was in my account within 15 mins!
Brilliant, thank you!

amy

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #126 on: 19 May 2020, 08:59:42 pm »
Meanwhile Santander are still not answering over two weeks later, despite hours of holding and multiple messages left on their chatbot thing. I'm starting to wonder whether to just apply to another lender and if they ever do get back to me I'll tell them to stick it.

Lady Frog

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #127 on: 20 May 2020, 02:28:03 am »
Had to use my turnover for the 2019 calendar year

Glad it worked out so smoothly

Please what evidence did they ask for/use to workout your turn over for the calendar year, or did they ask you for a figure for 2019 turnover, and if so what did you have to show to support that?
A woman, especially, if she have the misfortune of knowing anything, should conceal it as well as she can. - Jane Austen

Lushblossom

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #128 on: 20 May 2020, 07:13:24 am »
I checked my bank account online an hour ago the money (SEISS grant) was credited today which was surprisingly fast.  Three working days from Friday 15th May.  Today being Wed 20th May.

Mirror

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #129 on: 20 May 2020, 08:31:45 am »
I checked my bank account online an hour ago the money (SEISS grant) was credited today which was surprisingly fast.  Three working days from Friday 15th May.  Today being Wed 20th May.

Great news I suspect they just want to get it done, and us out of the way.

Gypsy

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #130 on: 20 May 2020, 08:41:12 am »
I got my grant too after applying on 15th at 12pm  :)
These days there are no Prince Charmings. A girl just has to be her own hero

EvelynWho

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #131 on: 20 May 2020, 08:42:36 am »
Glad it worked out so smoothly

Please what evidence did they ask for/use to workout your turn over for the calendar year, or did they ask you for a figure for 2019 turnover, and if so what did you have to show to support that?

I think they worked it out themselves ? Don’t think I’ve been asked to supple any evidence (if you’re meaning the 80% not the loan) x

geordie

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #132 on: 20 May 2020, 08:51:04 am »
Got my grant today, wasn’t due till Friday so pleased with how quick it all was.

Doesn’t look like I’ll be eligible for a business bounce back loan with HSBC however as they want 18-19s tax return which was very low for me as I was employed half the year. I was also declined for a business account (not a feeder account, thought I’d try applying online before calling). Will keep an eye out for other banks who don’t require you to be a customer of theirs. Know Barclays is an option but I don’t want to use them.

Lady Frog

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #133 on: 20 May 2020, 12:28:26 pm »
I think they worked it out themselves ? Don’t think I’ve been asked to supple any evidence (if you’re meaning the 80% not the loan) x

No sorry I meant the bounce back loan x
A woman, especially, if she have the misfortune of knowing anything, should conceal it as well as she can. - Jane Austen

Lady Frog

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Re: Help for (some of) the self-employed announcement at last - UK
« Reply #134 on: 20 May 2020, 12:37:33 pm »
they want 18-19s tax return which was very low for me as I was employed half the year

As you say it varies from bank to bank but I read on at least couple (including HSBC I think?) that if started being self employed part way through the tax year 2018-2019 or calendar year 2019, they will take the portion that you did work and pro-rata it to get an annual amount, which they will then x25% to arrive at the figure you can borrow.

It's a loan at the end of the day that you/the govt will pay interest on so I suppose it's in their interest to approve you for borrowing as much as possible. This is what I was hoping they would do with the SEISS grant too as I started towards the end of 2018/2019 tax year, but unfortunately they haven't, I spose bcs it's a grant and not a loan.

A couple of the others also allow you to open a feeder account as mentioned if you are a personal customer with them.
A woman, especially, if she have the misfortune of knowing anything, should conceal it as well as she can. - Jane Austen