Government packages

[matzie]

Anyone got their free £10 k yet ???

Not yet but as as director of a business occupying property separate from my private home and qualifying for SBRR, I'm hopeful :-)


Came here to say something else though -

The deferral of self-assessment payments on account normally due by 31st July looks to me to be restricted to self-employed in the old 'schedule d' sense - I don't think it applies to all people due to make such payments. I know it's a minor concession at best - but I'd counsel people here not to rely upon it. However you may still wish, if your company's trading outlook suggests you might be giving lower dividends to your shareholders, to apply to reduce those payments on account. Worth getting professional advice on IMHO.

[PerfectStorm]

Summary from Nixon Williams Business Support Available to Personal Service Companies - Nixon Williams

[mlc2009]

what about self employed with ltd company who take dividends, whats the plan for them?

[jamesbrown]

what about self employed with ltd company who take dividends, whats the plan for them?

A sole trading limited company owning dividend payer?

Let me check my notes...

[GhostofTarbera]

what about self employed with ltd company who take dividends, whats the plan for them?

Absolutely nothing - tbc later today, you should look to your shareholders for a bail out


Sent from my iPhone using Contractor UK Forum

[matzie]

Something on sky news suggesting self employed support will exclude those who also receive PAYE or earn more than £50k. I don't think any of us here should expect much help. I think we should do whatever needs to be done to provide for those we love and keep our businesses afloat. Good luck everyone.

[PerfectStorm]

Something on sky news suggesting self employed support will exclude those who also receive PAYE or earn more than £50k. I don't think any of us here should expect much help. I think we should do whatever needs to be done to provide for those we love and keep our businesses afloat. Good luck everyone.

So will they be covering dividend income as well as salary? "No, salary only"

OK, cover that "no, you earn over 50k"

[TestMangler]

Seems ironic that a bunch of people who've spent years discussing minimising any payments to the country's common interests by claiming their bike/dog/filing cabinet/HDTV/Mac Book/Porsche/Christmas party/Lunch/spare bedroom were business expenses, maximising the use of salary and divvy combinations for their spouse and generally boasting about their income, should now be crying about the lack of financial support from the government.

[PerfectStorm]

Seems ironic that a bunch of people who've spent years discussing minimising any payments to the country's common interests by claiming their bike/dog/filing cabinet/HDTV/Mac Book/Porsche/Christmas party/Lunch/spare bedroom were business expenses, maximising the use of salary and divvy combinations for their spouse and generally boasting about their income, should now be crying about the lack of financial support from the government.

Whilst there has been a bit of tinkering with the margins - people here will have shelled out many times more on corporation tax, income tax, brought VAT to the treasury.. etc

I've probably paid more than Amazon this year

[eek]

Whilst there has been a bit of tinkering with the margins - people here will have shelled out many times more on corporation tax, income tax, brought VAT to the treasury.. etc

I've probably paid more than Amazon this year

Once again - VAT is revenue neutral for HMRC in our situation (as B2B sellers)..