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BackyardBullion

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Everything posted by BackyardBullion

  1. Magnus's Solid Silver Heart - Welcome to the world!
  2. We hope to be able to share some a more in depth update in the next week or so. For the time being, we are just waiting on confirmation that orders can be dispatched within the next few weeks.
  3. 100m world record 45 seconds.... That means 150 minutes at that pace to do 20km You can do it in less than 120 minutes... Sounds like a record to me.
  4. @Seth Recent 20km race took these guys 4 hours.... Perhaps you should try out for Tokyo 2021....
  5. Sorry, you swam 20km in under two hours? You swim at more than 10km per hour? The world record for a 10km swim marathon is 1hr 52.... Did you get your distances right?
  6. Royal Mint Brexit 50p Silver Proof | But is it a waste of money!?
  7. Totally, no point in doing it until later in 2020 or Jan 2021. The only way that would change is if the GOV allowed 2019-20 to be submitted and added to calculations and/or averages. The problem is, there will be an awful lot of artificial books inflation happening. For those who dont know, 99% of self employed people don't have to submit their books, just the top line numbers. Turnover minus expenses = profits HMRC can ask for your books if they think something isn't right, but it's uncommon at the best of times let alone with the work load they have now. Allowing people to use 2019-20 will open up to massive amounts of fraud and artificially inflated profits.
  8. @MancunianStacker To the best of my understanding nothing at all from the tax year 2019-2020 will count. The extension of deadlines to submit is only for those who didn't submit 2018-2019 returns by the usual deadline of the 31st Jan 2020. Even though it is possible to submit your 2019-20 return in a few weeks, it won't matter for both average calculations and also for being eligible at all.
  9. There are issues even around parity. A CEO on £250,000 per year can be furlowed and for £2500 per month. Joe blogs plumber declaring £50,001 earnings gets nothing.
  10. Multiply the overall weight of the coin by 0.9 or 0.4 that will tell you the weight of pure silver. 10 gram coin of 90% silver has 9 grams of silver content. 14.5 gram coin of 40% silver has 5.8 grams of silver. Added 0 minutes later... Then multiply by spot price in grams to get value
  11. From what I understand - you can also apply for universal credit. You will be contacted by HMRC if you qualify for this scheme as a self employed person. So nothing to do until you do/don't get a letter presumably in the next month....
  12. I feel for you - it's one of the many reasons I have never wanted to go the LTD route with BYB stuff. I cannot imagine a phonecall to HMRC will get answered this side of May/June now as there will be 4 million pissed off self employed people trying to get their money sorted. Again, I just want to reiterate the major point from Rishi Sunak.... This is parity with the employed. Is it hell.
  13. Same boat here - growth of a business is actually a real kick for people I don't have any PAYE now, haven't for a long time. Good luck getting in touch with HMRC to get your books looked at. 4 million self employed people to process and it's not going to be easy. The advice is you will be written to by HMRC if you are eligible and presumably they will give you a calculation. Appealing that calculation will probably delay getting cash even later than June!
  14. £50,000 profits or more per year are not eligible. I know a lot of self employed people who are freelancers. They operate up to the VAT threshold (£85,000). If their expenses don't take them under the threshold for this, they are not eligible. This is not a good scheme for the self employed. I think backlash will come out following this announcement.
  15. Yep, just googled it. Dividends only come if there are shares in a company and self employed don't issue shares.
  16. Pretty sure that dividends are for those who take money from a LTD company This scheme specifically targets sole traders and freelancers that essentially run their own business and it is their own personal self that is the business entity, no legal business name. The individual is the taxable entity.
  17. Yep, that too. Not a good scheme And what does it ultimately cost us.... Additional tax via NI for self employed in the future. Because we are apparently being treated equally to the employed.... To be honest, only if your earnings have been the same for 3 years will it be parity with the employed. This scheme will either give you a pay rise or a pay cut...
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