Government packages

[TestMangler]

For the (probably very tiny) proportion of us who are actually in business, rather than with their arse on the seat of a large client co for years at a time - the documentation on this scheme is available here (PDF link): https://assets.publishing.service.go...uidance-v2.pdf

FTFY

[d000hg]

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

A few people have suggested this is eligible but I've seen analysis (here and by people who know what they're talking about) that a director cannot be furloughed as they must continue working. It seems to me a company director is not employed to fulfill their obligations as director but does those separately but we'll have to wait and see.

For instance someone who runs a shop or cafe... They are likely working long hours as manager then doing the "company stuff" at home.

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[gables]

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.

Yes but capped at approx 2.5k/month quite a drop from the £9.7k a 200k salary gets you or 80% off that.

[mudskipper]

Yes but capped at approx 2.5k/month quite a drop from the £9.7k a 200k salary gets you or 80% off that.

yep - but you still get it!

[Lilibet]

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.

What about those of us who are private renters? no rent holiday...

[ladymuck]

What about those of us who are private renters? no rent holiday...

Like this, you mean?

https://www.contractoruk.com/forums/...s-i-house.html

You need to work on your search skills.

[gables]

yep - but you still get it!

Indeed, sorry I thought the inference was they'd get 80% of the 9.7k, apologies.

[yorkshirespud]

My Ltd company has two employees, myself, and my wife for book-keeping duties. Like everyone else, I'm unsure if I can claim the 80% grant for my own salary as director. I know at least we can claim for my wife's salary. It's not much but it's something at least ...

[PerfectStorm]

My Ltd company has two employees, myself, and my wife for book-keeping duties. Like everyone else, I'm unsure if I can claim the 80% grant for my own salary as director. I know at least we can claim for my wife's salary. It's not much but it's something at least ...

What day to day work have you laid her off from?

[GhostofTarbera]

What day to day work have you laid her off from?

Running the payroll and spending dividends


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