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Corona Virus Contingency

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    #11
    I thought all the grants were tied to business rates? Unless you have dedicated office space I'm not sure you're eligible for anything anyway.

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      #12
      Originally posted by Boney MM View Post
      Anyone else thinking of using the government grant assistance if they are sent home ?

      I have myself and my son and wife as employees of my limited company and expect us all to be sent home soon as rumours go for the companies we work for, we are expecting confirmation later this week.



      Sent from my iPhone using Contractor UK Forum
      Isn't it a loan? All you will be doing is creating debt. Not sure if it's perhaps tied to business activity sector? Do IT consultants (I'm assuming) actually qualify? If you have cash in the company use that.

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        #13
        Originally posted by PlanB View Post
        Isn't it a loan? All you will be doing is creating debt. Not sure if it's perhaps tied to business activity sector? Do IT consultants (I'm assuming) actually qualify? If you have cash in the company use that.
        There are some grants available. Coronavirus (COVID-19) guidance for employees, employers and businesses - GOV.UK says £10,000 for small businesses that pay little or no business rates and are eligible for small business rate relief (SBBR) and will be contacted by their local authority. £25,000 for retail, hospitality and leisure businesses operating from smaller premises, with a rateable value between £15,000 and £51,000.

        I don't think it's applicable for Limited companies that work from a home office or client site.

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          #14
          Loans need to be paid back, with Interest. And I'm still in a contract and my warchest is looking good

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            #15
            the VAT thing, being deferred until the end of June. Can you claim it back if you have already made the payment? 7th of March was the last day, and next one is precisely end of June...

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              #16
              Originally posted by biergarten View Post
              the VAT thing, being deferred until the end of June. Can you claim it back if you have already made the payment? 7th of March was the last day, and next one is precisely end of June...
              No.
              'CUK forum personality of 2011 - Winner - Yes really!!!!

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                #17
                Originally posted by biergarten View Post
                the VAT thing, being deferred until the end of June. Can you claim it back if you have already made the payment? 7th of March was the last day, and next one is precisely end of June...
                No, but why would you bother? It isn't free money. It's simply deferred and becomes due later.

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                  #18
                  Originally posted by jamesbrown View Post
                  No, but why would you bother? It isn't free money. It's simply deferred and becomes due later.
                  Why bother? The chancellor didn't do this for the laugh, he's bothered to help businesses with cash flow.

                  Also we all know what will happen, millions with not be able to repay it and the debt will be forgotten. Mark my words on that one. I'm quite tempted to apply for the maximum business loan on that basis tbh. If I'm wrong, just pay it back, if not... I wont be kicking myself for not filling my boots.

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                    #19
                    I'd imagine the future of that debt book will become a political manifesto point in its own right and be on the agenda for years...

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                      #20
                      Even if via a ltd company or umbrella surely you're an employee of "some company".

                      Eligible for the 80% grant?

                      Notice its max of £2500 a month though. NLUK will be ok.....

                      Luckily, signed new extension for 6 months today!!!! WFH for foreseeable future...
                      Rhyddid i lofnod psychocandy!!!!

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