Martin Lewis tweeted about this article today:
UK minister backs state bailout for owner-directors
The full webinar is here
You can jump straight to the discussion about this at 25:19
TBH it doesn't sound like there is really any progress on this yet, other than it has the ministers backing. He's basically asking around for ideas so he can present something back to the Chancellor.
UK minister backs state bailout for owner-directors
A UK government minister is working on a scheme to help the 2m business owners who pay themselves through dividends and are excluded from existing state initiatives to cushion the blow of the coronavirus lockdown.
The announcement by Paul Scully, the small business minister, follows a big campaign from those shut out of the government schemes.
He said he had paid himself in dividends when running a business from home with a partner.
“We did exactly the same thing, not to reduce our tax bill, but because we did not want to set up a payroll system, which was relatively cumbersome when there’s only two of you. So I totally understand the frustration,” he said.
Mr Scully was responding to questions from businesspeople on a webinar hosted by Intuit, an accountancy software provider.
The announcement by Paul Scully, the small business minister, follows a big campaign from those shut out of the government schemes.
He said he had paid himself in dividends when running a business from home with a partner.
“We did exactly the same thing, not to reduce our tax bill, but because we did not want to set up a payroll system, which was relatively cumbersome when there’s only two of you. So I totally understand the frustration,” he said.
Mr Scully was responding to questions from businesspeople on a webinar hosted by Intuit, an accountancy software provider.
You can jump straight to the discussion about this at 25:19
TBH it doesn't sound like there is really any progress on this yet, other than it has the ministers backing. He's basically asking around for ideas so he can present something back to the Chancellor.
Comment