Has anybody here furloughed themselves yet?

[OneManBand]

I did a search but couldn't find any post where someone actually has done it.

[jamesbrown]

I did a search but couldn't find any post where someone actually has done it.

I doubt you will. It only went live today.

[Maslins]

A reasonable number of our clients have/are, and we're helping them through the claim form (which just went live today) now.

Mods - apologies if this is considered spammy, remove link if you like...but we've done a guide that should help contractors and other similar Ltd Cos (ie 1-2 directors on simple salaries, no other staff) to complete claims here.

[jamesbrown]

A reasonable number of our clients have/are, and we're helping them through the claim form (which just went live today) now.

Mods - apologies if this is considered spammy, remove link if you like...but we've done a guide that should help contractors and other similar Ltd Cos (ie 1-2 directors on simple salaries, no other staff) to complete claims here.

Out of curiosity, what are you advising clients that can afford to pay a salary without this help? Informal guidance coming from gov't seems to be that you shouldn't be using this scheme if the company has the reserves to continue paying.

Obviously, you wouldn't want to frighten people away from legitimate claims, but it's a tough call because there's likely to be blowback in due course for companies that are seen to have exploited this (i.e., those with a warchest).

[Maslins]

We've certainly had a few ethical conundrums re this. However, I don't think it'd be appropriate to go into details/examples, even anonymously. Personally I wasn't aware of the size of a company's reserves being relevant. My understanding is if there's no work for the staff member to do, so they're furloughed, a claim can be made. Having said that, this guidance is new to everybody, including us, there's lots of speculation/commentary, so it could easily be something we've missed. Would seem odd though, eg exactly how would you work out what the cut off was.

[OneManBand]

I'm gonna have a chat with my accountant. See what he says.

[northernladuk]

I'm gonna have a chat with my accountant. See what he says.

That's my boy....

[jamesbrown]

We've certainly had a few ethical conundrums re this. However, I don't think it'd be appropriate to go into details/examples, even anonymously. Personally I wasn't aware of the size of a company's reserves being relevant. My understanding is if there's no work for the staff member to do, so they're furloughed, a claim can be made. Having said that, this guidance is new to everybody, including us, there's lots of speculation/commentary, so it could easily be something we've missed. Would seem odd though, eg exactly how would you work out what the cut off was.

Makes sense.

I think anyone using this scheme should be aware that its use is likely to be scrutinised down the line.

So, for example, if you have several tens of thousands in company reserves and you're using this scheme instead of paying from those reserves, I think there are going to be questions later. Remember, this scheme was put together very quickly with a view to helping those that really need it. For those that don't, I'm sure there will be few questions now but many later.

For example:

Firms should only use furlough scheme if they absolutely have to, says Dowden

Dowden, speaking to ITV this morning, was asked to comment on reports that Victoria Beckham’s fashion company was using the scheme. “I don’t know the details of her fashion business. I’m not going to comment on each one in turn, but the clear principle is: you should only be using it if you have to,” he said.

[jamesbrown]

Also, if you're asking for 600 per month from a scheme that is intended to last for 3 months, then you might not even need more than a few k in reserves for it to be obvious that the scheme isn't for you. I'm speculating along with everyone else but, again, I think this is really intended for people that would be stuffed otherwise.

[billybiro]

Makes sense.
So, for example, if you have several tens of thousands in company reserves and you're using this scheme instead of paying from those reserves, I think there are going to be questions later. Remember, this scheme was put together very quickly with a view to helping those that really need it. For those that don't, I'm sure there will be few questions now but many later.

Always remember, though, that it's easier to beg forgiveness than it is to seek permission.

Claim now and fill yer boots, just make sure you don't blow it all at once just in case they come knocking in the future.