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Some good economic news at last. Despite the vast majority of people working from home or not at all and not travelling anywhere and only buying essentials and businesses being closed etc we still managed to retain 80% of our GDP in April. Things should really be on the up now then.

https://www.bbc.co.uk/news/business-53019360

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Well it appears we may have it - just heard a Doctor describe the symptoms and it matches ours 100% - not quite a cold and not quite flu. Carina is suffering a lot more than me, but in reality for us

UK Virus ALERT   The English are feeling the pinch in relation to recent virus threat and have therefore raised their threat level from “Miffed” to “Peeved.” Soon, though, level may be raised

I don’t even find it boring to stay inside all day ...but I don’t understand why in one box of rice krispies there are 2453 pieces, and in the other one 2467!

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bbc don`t see it that way ,focusing on the 20% rather than the 80%

hindsight: the science that is never wrong

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A guy in one of my drone groups made this... Thought our Danish members might enjoy it. 

 

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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Excellent news...

https://inews.co.uk/news/business/coronavirus-uk-latest-rishi-sunak-hmrc-draconian-powers-covid-19-support-claims-444690

I was amazed that companies like IAG were getting our tax pounds to pay wages when they're a company with £8.5bn in cash reserves. I always thought they should have said any company with enough cash to cover 6 or 12 months of costs or a limit of £10m in cash would have been an easier way to see who should or should not have been able to use the furlough scheme. I believe that you can't claim benefits if you've got savings, how was this any different?

 

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88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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I guess the govenment was scared they would lay off staff if they didnt let them.    

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Or maybe the government knew they would lay off staff of they didn't get a wedge off the taxpayer?

Those big companies probably let them know what would happen before the rules were made.

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Laying of staff isn't free, redundancy is an expensive process and to be fair (not to the people who's jobs they are), companies can only lay off staff if their job is no longer required otherwise employees with more than 2 years service can call them to account for the redundancy. If their job is no longer required, why are the government paying their wages to keep them employed in a job which isn't needed?

I get that a huge amount of redundancies would have been a bad place to be in but those people would be being re-hired now as their jobs are once again needed and the companies with money in the bank are the ones who would have paid for it in the mean time. 

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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This part is also good news as I have heard of some sole traders proposing to go bust

HMRC will also be handed powers to target beneficiaries of the Self-Employment Income Support Scheme (SEISS) and small companies that received grants of up to £25,000 to help them through the crisis. If HMRC suspects a business did not actually require a loan, or that a sole trader ceased trading soon after receiving money from the SEISS scheme, it will be able to put the burden on those investigated to prove otherwise

hindsight: the science that is never wrong

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Or maybe the Government knew a crisis was looming, one that would potentially see large numbers of people being laid off in big companies as our service focused economy started to grind to a halt due to a Global pandemic.

That in turn would further hit the "service chain" as people would not be going to work, so food, clothes, transport purchases etc would all take a hit and many more people could be laid off/leave work as small businesses folded.

So, understanding this the Government thought ahead and came up with a Job Retention Scheme - the clue is obviously in the second word there - Retention, NOT Redundancy.  The intent was for the Government to help out all businesses for a period of time to safeguard and protect, in the first instance, the jobs of hard working citizens.  Sounds like a great plan to me, and smaller businesses have been further supported with rates relief for the whole year, access to cheap (0%) Government backed loans etc.

So first and foremost. Let's have some positive gratitude for the politicians in our Government who actually have done a great job, in this instance of trying to support their citizens.  Hip hip.......

However, some businesses, large and small, have, as ever, tried to "cheat the system", taking tax payers money whilst continuing to pay dividends and bonuses to some and planning to make significant furloughed employees redundant at the end of the process. Others, have used the facilities to generate "free money" that they have squirrelled away with some bordering on fraud and some down well committing fraud as part of the process.

So secondly, let's name and shame these companies and lets show them we have a long memory when it comes to showing them our disgust, by refusing to buy their products or services, in the future.  Boo hoo.......

So, the Government, recognising some companies (BA, wonder where you fit in all of this with Sports Direct et al) were basically taking the piss has put in place a mechanism to haul their asses to account.  Hip hip....

I for one am very happy we have a conservative government right now. Fcuk knows what state we would be in, right now, if that muppet fence sitter Corbyn and his cronies had been in power. It really does not bare thinking about what a damned bloody mess we'd be in.

I'm saying this government is wonderful and perfect. But in comparison to the alternative....

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Alcohol. Sex. Tobacco. Drugs. Chocolate.  Meh! NOTHING in this world is as addictive as an Evora +0. It's not for babies!    

The first guy to ride a bull for fun, was a true hero. The second man to follow him was truly nuts!   

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Correct me if I’m wrong, but I thought that dividends and bonuses are based on a company’s previous tax year’s accounts and directors have a legal and contractual duty to pay shareholders dividends if they’ve been previously declared, although I’m not not sure about the situation with bonuses, never having had any.

As to whether there’s a moral issue at stake, that’s quite another thing.

Margate Exotics.

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Dividends once declared need to be paid, however Boards can vote prior to their declaration to not pay them.  Bonus' payments are nearly always discretionary and can be removed/not paid.

Alcohol. Sex. Tobacco. Drugs. Chocolate.  Meh! NOTHING in this world is as addictive as an Evora +0. It's not for babies!    

The first guy to ride a bull for fun, was a true hero. The second man to follow him was truly nuts!   

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@C8RKH off topic but the maxi-facial surgeon who rebuilt my head (amazing and  talented bloke who also turned up to my 50th and danced with his wife all night, you can check him out just Google Rob Bentley Kings College) is the brother in law of Mike Ashley! Now back on topic 

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Sounds like a nice bloke Dan but not sure the point.  He obviously ain't involved in Sports Direct and I ain't making this personal.

Alcohol. Sex. Tobacco. Drugs. Chocolate.  Meh! NOTHING in this world is as addictive as an Evora +0. It's not for babies!    

The first guy to ride a bull for fun, was a true hero. The second man to follow him was truly nuts!   

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There is no point and I think he thinks Ashley is a Twunt 🤪 I was just amazed he was related, you are never going to get me backing Ashley 

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13 hours ago, C8RKH said:

Dividends once declared need to be paid, however Boards can vote prior to their declaration to not pay them.  Bonus' payments are nearly always discretionary and can be removed/not paid.

It's all about timing. And if the dividends were declared last year, then companies will have to stump up this year, whether they like it, or not. After a bit of legwork, I discovered that not all bonus payments are discretionary, as they could be linked to previous profits made and could be contractual, so again, there's an obligation in those cases to stump up. So the pots of money that everyone thinks is available to save employees being laid off is legally spoken for.

To me though, what will be interesting is what happens in the next tax/accounting year, although if the current furore has diminished, I don't suppose we'll get to hear, or even notice.

Margate Exotics.

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My commercial tenants all received a £10k Covid grant from the council, it was not means tested and never has to be paid back.

none of the tenants, except one, have really noticed a downturn and have managed to keep busy, in fact, two of them A private ambulance company and a well known parcel delivery company have never had it so good.

I was also talking to a friend who has received a £25k Covid grant, furloughed all staff. Both he and his partner continued trading for the last three months, worked their backsides off and have managed to clear a £50k debt at their bank.

seems to be lots of free money about for some, but we will all have to help pay it back....hard times coming possibly!

I also think the 80% of wages was too high, 60% seems a more realistic figure, what with all the payment holidays on offer for virtually everything, the week willed will certainly be storing up problems for the future

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On 12/06/2020 at 18:11, Bravo73 said:

Fox News? Wow, you’re really scraping the barrel now, Buddsy. 

Fox news, BBC News, Sky News they are all in the same barrel.

 

Wow seems Im not alone anymore! 

MORE THAN A FIFTH OF PEOPLE IN ENGLAND BELIEVE COVID-19 IS A HOAX

 

buddsy

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"Belief is the enemy of knowing" - Crrow777

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On 14/06/2020 at 17:25, pete said:

This part is also good news as I have heard of some sole traders proposing to go bust

HMRC will also be handed powers to target beneficiaries of the Self-Employment Income Support Scheme (SEISS) and small companies that received grants of up to £25,000 to help them through the crisis. If HMRC suspects a business did not actually require a loan, or that a sole trader ceased trading soon after receiving money from the SEISS scheme, it will be able to put the burden on those investigated to prove otherwise

I wouldn’t be surprised to learn that the scheme had been abused by some unscrupulous operators. HMRC is going to have a field day when they catch up with them.

Margate Exotics.

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