Covid Coin +

[mercenary for hire]

Is there a list of what counts as expenses?What's included and what's not excluded?

I'm guessing taxi rental and insurance would be an expense but if a driver bought a car(10k) with his own communion money would that be still a valid expense?

Could a driver for example repay 200 a week to himself for  a loan he's given to his own business and use it to beef expenses to remain under the threshold for PUP?

Does this make sense?I know it sounds dodgy but it's a realistic scenario..Kinda.

[vandriver]

I'd assume if it's allowed as an expense on your tax return,then it's an expense allowed for this.
Maybe ask your accountant.

[Rat Catcher]

In short, the answer is no MfH. Interest on loans is allowed as an expense if paid to an Irish (probably EC these days?) financial institution. The capital repayment could (and in most cases would) give rise to wear and tear (capital) allowances which are deducted from Net Profit in computing taxable income at predefined rates. In the case of a car (taxi) the rate is either 12.5% PA on a straight line basis or (subject to satisfying certain criteria) 40% PA on a reducing balance basis, the latter being commonly known as accelerated depreciation.

[mercenary for hire]

Hmmm ok thanks gents.I'll figure out another scam by the time I return to the workforce.

[Jonno]

350 a week
480 gross on top
My insurance is 320 a month
Can I earn that too

480 in a given 4 weeks plus 350 x 4 is your max. gross allowable earnings in the covid world. Deductions come after that, including insurance and every other outgoing you have.

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So I'm working for 480 less my insurance 320

I'm on 160 and month or 40 a week
Great

You're working for what you make.
If your insurance is 80 a week,and all your other expenses are 100 a week,then you can 'earn' 300 and will then make 470.

A week or a month?

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[Taxi driver42]

Its al very vauge

[vandriver]

350 a week
480 gross on top
My insurance is 320 a month
Can I earn that too

480 in a given 4 weeks plus 350 x 4 is your max. gross allowable earnings in the covid world. Deductions come after that, including insurance and every other outgoing you have.

Sent from my T770H using Tapatalk

So I'm working for 480 less my insurance 320

I'm on 160 and month or 40 a week
Great

You're working for what you make.
If your insurance is 80 a week,and all your other expenses are 100 a week,then you can 'earn' 300 and will then make 470.

A week or a month?

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A week

[john m]

A wake up call for VAN you can earn NOTHING extra if you go back on the Covid .You must of been in reciept of the Covid payments for 16 weeks to gain from the changes to the rule .Big Dommos mate reapplied for the Covid Coin and ticked the box that said he was going to do SOME casual work and was refused payment as reapplicants CANNOT do ANY WORK ,and recieve payments .

[Taxi driver42]

A wake up call for VAN you can earn NOTHING extra if you go back on the Covid .You must of been in reciept of the Covid payments for 16 weeks to gain from the changes to the rule .Big Dommos mate reapplied for the Covid Coin and ticked the box that said he was going to do SOME casual work and was refused payment as reapplicants CANNOT do ANY WORK ,and recieve payments .

I reapplied  they never said that to me
Either did freenow in email

[john m]

A wake up call for VAN you can earn NOTHING extra if you go back on the Covid .You must of been in reciept of the Covid payments for 16 weeks to gain from the changes to the rule .Big Dommos mate reapplied for the Covid Coin and ticked the box that said he was going to do SOME casual work and was refused payment as reapplicants CANNOT do ANY WORK ,and recieve payments .

I reapplied  they never said that to me
Either did freenow in email

The offer of work and wages was made to those who HAD NOT YET returned to work not those who had and wanted to go back on the coin and work .Why would Free Now tell you .Did they tell you to SIGN back on .

[Taxi driver42]

Well I reapplied it never said I couldn't work when I ticked the box

[john m]

Here is a statement from a government publication that is unclear .......Last week Minister Humphreys announced increased supports for the self-employed who ARE  availing of the Pandemic Unemployment Payment and who are looking to restart their business. In order to reduce the risk of moving from the certainty of the PUP payment to the uncertainty of trading income, self-employed people on PUP, including those who work in the arts/entertainment industry, taxi drivers and others, can earn up to €480 per month, while retaining their full PUP entitlement.

ARE could mean at this time of publication not will be which means in the future ,Ill try to find the bit where is said 16 weeks in reciept of payments as this offer was to encourage us not to refuse one off jobs .There is another scheme that allows you work 24 hours with unlimited weekly earnings .

[Taxi driver42]

It's all very vauge
Free now says we can but who believes them,?
I'd work it and claim ignorance sick of it all

[john m]

It's all very vauge
Free now says we can but who believes them,?
I'd work it and claim ignorance sick of it all

Correct .Rely on Free Nows guidance they know best .

[john m]

The Minister recognises the risk that recipients of PUP who were self-employed face in restarting their business. In order to reduce the risk of moving from the certainty of the PUP payment to the uncertainty of trading income, the Minister is enabling self-employed people on PUP, including those who work in the arts/entertainment industry, taxi drivers and others, to RECOMMENCE  work and earn up to €480 per month, while retaining their full PUP entitlement..