Temporary unemployment and sole trader income

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RafTor
Posts: 9
Joined: Thu Mar 26, 2020 1:21 pm

Temporary unemployment and sole trader income

Post by RafTor » Sat Mar 28, 2020 1:01 pm

Hi Forum,

A couple of days I was told that will be unemployed for up to 3 months - my company is furloughing all of us. There is a chance that a few works will get maybe 50% work, details will come early next week, most likely not.

I work been working full time for 4 years at this company and had my own toiminimi on the side for about 2 years. I understand that you can earn up to 300 e. on the side and earned income above that reduces your unemployment by 50%. I am not worried about earning too much, that would be a great "problem" to have, rather how that income factors in, and if past income may affect the calculation.

Last year I did most of my work on a single project that ended late December, and was paid in full only in January, as the invoice arrived too late. Vero tells me that is 2020 income, I use single entry bookkeeping. Will that be taken in account? And will it matter that my toiminimi income for '19 was zero?

Even if that may not be a concern, how am I supposed to declare my incomeI rarely get paid the month I work? Hour invoiced or receivables based?



Temporary unemployment and sole trader income

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betelgeuse
Posts: 3489
Joined: Thu Aug 29, 2013 1:24 am

Re: Temporary unemployment and sole trader income

Post by betelgeuse » Sun Mar 29, 2020 3:45 pm

RafTor wrote:
Sat Mar 28, 2020 1:01 pm
A couple of days I was told that will be unemployed for up to 3 months - my company is furloughing all of us. There is a chance that a few works will get maybe 50% work, details will come early next week, most likely not.

I work been working full time for 4 years at this company and had my own toiminimi on the side for about 2 years. I understand that you can earn up to 300 e. on the side and earned income above that reduces your unemployment by 50%. I am not worried about earning too much, that would be a great "problem" to have, rather how that income factors in, and if past income may affect the calculation.

Last year I did most of my work on a single project that ended late December, and was paid in full only in January, as the invoice arrived too late. Vero tells me that is 2020 income, I use single entry bookkeeping. Will that be taken in account? And will it matter that my toiminimi income for '19 was zero?

Even if that may not be a concern, how am I supposed to declare my incomeI rarely get paid the month I work? Hour invoiced or receivables based?
Past income is not taken into account. You can declare the income (and costs) on cash basis. Basically by submitting your single entry accounts. The payer of the benefits should have instructions on this on their forms.

RafTor
Posts: 9
Joined: Thu Mar 26, 2020 1:21 pm

Re: Temporary unemployment and sole trader income

Post by RafTor » Wed Apr 01, 2020 10:03 pm

Thank you very much, that was very useful.
Do you know if being only partially unemployed/furloughed affects the amounts one is allowed to earn?


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