Crossroads

[Snev]

It's one of those times in life, you get to choose a different road.... The past two years has taken a toll, Father-in-Law died in December, My Mum has terminal cancer but she's a fighter... mother-in-law needs constant care so Sammy is not much in the business... Business is dead, no customers, Tax man on our backs, Bounce back loans to pay.... being chased left right and centre and I'm a complete nervous wreck.......So I've decided to disolve the main business.
Should be done by the end of this week.... Sold my MT09, Cashed in my Pension, Transit taken by HMRC and no income.... got to decide what to do now.... A huge part of me want's to have a complete change of direction, I have been living in the motorhome for nearly two years now and to be honest, It's been my safe place, question is, do I sell everything up and bugger off or try to keep working ?

[Beelady]

So sorry you're having to go through all this.
What work could you do? I assume you'd want to be self employed as it would be really hard to work for someone else after so long running a business.
Do you owe money? Citizens Advice are good at helping out with that sort of thing, but you probably have to make an appointment nowadays.
It's coming up to the right time of year to do van life, but I don't think you could keep doing it for ever and you need to stay well and look after your health. At least you have it as an option if all else fails.
What happens to Sammy if you decide to take off?
Sorry I can only come up with the same old waffle that everyone else gives you. xx
P.S. If you need a driveway to park on sometime, you'll be welcome, as long as you fit through the gateposts.
There are people who live in vans all summer, parked on part of the seafront.

[Snev]

Cheers Bee.... I'm sort of just in limbo ATM.... waiting to see what else comes along......

[Ninjachica]

Really tough time.

You will need an income, whatever you do. This world is not really geared up for bartering.

You can get by on very little, but not on nothing.

Very few people are lucky enough to make a living from their hobby, but i hope you find a stress free way forward.

[bobsnicholson]

Tough hearing about people going through hard times, especially when you know them (a bit).
Not a lot of advice i can give as i have no experiance.
As for going off in the van i don't think is the answer.
Do you have any equity in the house? if so would it not be prudent to sell, settle any debts and rent a downsized property until you can get back on your feet.
From what we hear there are supposed to be lot's of jobs out there.
Chin up.
Apologies if i have missed anything as i've not been on here for awhile.

[Snev]

Thanks everyone..... So this is basically what happened, we were in the process of paying off the Mortgage when Brexit took a toll on sales.... then Covid came along and we had to shut our showrooms for 9 months in total in the first year... sales were even slower after that so we had no real choice but to take out the Bounce back loans but Corporation Tax and self assessment tax was due so much of the loan amounts were used to pay these..... the loans are also treated as income so you get taxed on that too... our rather expensive accountants are hopeless with advice or help and i'm no financial expert either so effectively, our business was Insolvent but In a bid to keep going, we got rid of the car, I sold my Z900 to buy the Transit off the lease company (paid £9000, worth £16000) with a view to selling it and getting an older cheaper one..... unfortunately, I didn't know the full extent of the financial problems, Sammy was not even opening letters and then it all started to go wrong.... I cashed in my small and only pension, got hit with the full 40% tax, paid a few bills, then the Taxman came knocking, claimed the Transit and now I'm waiting for the Insolvency to kick in...... I also sold the MT09 and Not one customer has suffered any loss, so at least I haven't pissed any one off...... the debts are mostly Tax and BB loans but we also have to keep paying the rent on the workshop and Showrooms... I've got enough money to hire a few large Skips to clear the Workshop and one of the showrooms and we have a fair collection of stock and Display items which we can sell ( Not Company assets luckily) so then after all that, a big decision will have to be made.
Currently, I'm done with all the worry and endless stress, It's taken a huge toll on my mental health and I'm a bundle of nerves.... Personally I just want to stop working and start Living again.... the Vanlife is a serious option, we own the Van and the House and I have lots of stuff I can sell, plus the house rental fee would really help. Only problem is Me and Sam..... and our relationship, we argue too much to be in such a confined space.

Sorry for the sob story.... I have kept it all in but needed to get it all out !

On the bright side, Spring is on it's way and I still have the Sur-Ron, Tuono and Grom to ride around on..... Just wish I didn't have to work anymore.

[bobsnicholson]

I feel for you Nev.
Your the type of guy that will BOUNCE BACK.
Heard so many stories over the last couple/few years so similar.

There was no way i was going to start a business in the UK so off i toddled 4,000 miles to an oven (started 1st business after 4 yrs sussing it out working for a company).
What with all the constraints, taxes, H&S, HR, Ins, Labour, PAYE, Cap gains, Corp Tax, Biss Tax etc etc etc etc, it's bollocks.
One has to be very lucky to succeed.................or a criminal.

I'm looking for somewhere to go in April as Shirley is going to Dubai. If i end up down there i'll cantact and take you for a pint to cheer you up.

[Snev]

Yes, the Tax bit's are incredible.... Corporation Tax, Self Assessment Tax, VAT..... I just don't get how anyone self employed makes any money.... funny thing was, I was talking to the Taxman HMRC ( woman ) and I mentioned that we often get asked if we take cash... including ex Tax officers, Chief Constable, Bank staff to name a few and she said they don't really worry about people paying or taking cash to avoid paying tax as they will get other tax revenue when the cash re circulates !

What a load of Bollox.

A beer sounds good Bob.... it's been Ten years of chatting on here and MCN !

[CantCorner]

Sorry to hear you're going through this Nev.
Unable to give any business advice but if you need any practical help (clearing workshop / electrical work) give me a shout . I'm not that far away .

[Snev]

Thanks mate.... what a great offer too.... We still have our "Boy" Ian... he's 68 but really handy... I just bought/hired a 12 yard skip £600 and he's starting to fill it very carefully with about 30 years worth of crap we have amassed... things like doors, worktop off cuts, old units and panels.... nothing really of any value but getting rid will be a big step.......