Government packages

[PaulBurger]

Are you a limited company?

If so this doesn't apply to you anyway as you aren;t "self-employed" in the defintion here.

You are a PAYE employee with dividend income - so you come under the other scheme - but of course as a director you can't furlough yourself

Hi Oilboil,
I understood directors could also apply for the 80% contribution toward their salaries ? I read the following on the ICAEW website...

Owner/managed companies
2. Many owner managed company director/shareholders pay small salaries and the balance of income as dividends. The scheme does not extend to dividends. Only the salary is relevant to the scheme.

[PerfectStorm]

Need the Contractor bodies and accountants to chew this over and give a summary.

My operating assumption is that, other than for mortgage holidays and deferred payment of tax from July to Jan 2021, we get zero of any kind of support.

[PerfectStorm]

Rishi making the argument that we all should pay tax the same if we’re all getting treated the same now

So by that logic, if we’re not being treated the same now, then...

[Boney MM]

So if ltd and no premises or newly Limited in the last year you’re fooked


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[ContractorAgain]

Rishi making the argument that we all should pay tax the same if we’re all getting treated the same now

So by that logic, if we’re not being treated the same now, then...

That will be conveniently forgotten when the changes come in

[ContractorAgain]

Need the Contractor bodies and accountants to chew this over and give a summary.

My operating assumption is that, other than for mortgage holidays and deferred payment of tax from July to Jan 2021, we get zero of any kind of support.

The only bit may be the 80% of director salary?

[mudskipper]

I don't think this covers LtdCo contractors - it's all off the SATR, which is how self employed declare their profits.

I think I read somewhere that they'd confirmed we could furlough ourselves, so would get the 80% of salary (not dividends).

I think the 50K profit thing is a massive mistake - it's not a huge amount, and people will have big mortgages etc to pay. There is no (AFAIK) restriction on the salary scheme - you could be on £200K and furloughed and get your handout.

[d000hg]

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

This isn't "everyone gets money". It's about helping those who actually need it. So no, if you've paid a fortune to HMRC building up your riches, they don't think you need help to put food on the table.

Bad luck

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[matzie]

For the (probably very tiny) proportion of us who have chosen to operate our businesses from premises separate to our homes and been claiming Small Business Rate Relief for those - the documentation on this scheme is available here (PDF link): https://assets.publishing.service.go...uidance-v2.pdf

[eek]

Why do I get the feeling that the Government looked at what IPSE and Mr Chaplin wanted and instantly removed anything that might help the people they were talking about.