HMRC says because my non trading income was £43000 for 2018/2019 and my trading profits were £3950 for the same period, I am not eligible. The 43K was when I was employed on PAYE and the 3950 was self employment. I do not understand this and HMRC's website does not appear to explain this.
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Your trading income is £3950 and your non trading income is £43000.
£43000 is more than £3950.
What exactly don't you understand?
Be precise.
So as I understand it, if I had become self employed 4 months earlier and had profits near to my PAYE earnings, I would be eligible? Nobody can predict when the opportunity will arise to become self employed surely.
Near to ?
Not good enough.
Has to be more than.
Them's the rules. Don't feel singled out, there are plenty more in your boat.
To be eligible, amongst other things, your self employment income needs to be at least 50% of your total income.
..... because nobody can predict when the opportunity to become self employed will arise during their working life. ....
I'm not sure many folk saw the coronavirus coming either.
I'm not unsympathetic, but there are many hard cases along the route.
Lots of people are slipping through the net.
But at least with that amount of income you should have had some savings behind you to provide some backup.
There are lots of jobs up for grabs, just might not be in the area you would normally think to apply for, so Im sure you could find something if you have anything about you.
Hi, I have appealed a number of these situations - Unsuccessfully. It's a very unfair position. Best of luck on the job hunt.
I asked that yesterday on another of ECC's posts - no answer to either of us!
Bit like the unanswered Qs about annual payroll for Directors.
To be fair, on a monthly basis, your employed income was £4300 a month and your self employed income £1950.