Self Employed

[jamesbrown]

Personally I think its "fair" now its been confirmed our salary elements will be covered.

It would of been beyond silly to expect the dividend potion to be covered surely ?

Hasn't been confirmed as I see it. There is speculation. You may be right (you're certainly correct about dividends, obviously). You may be wrong. Personally, I think you're wrong, but there are seemingly more people that agree with you than me. I don't see how you furlough an office holder or justify a small salary as anything other than remuneration for the company admin that goes with it. Still, gov't schemes aren't always logical.

[genius]

Hasn't been confirmed as I see it. There is speculation. You may be right (you're certainly correct about dividends, obviously). You may be wrong. Personally, I think you're wrong, but there are seemingly more people that agree with you than me. I don't see how you furlough an office holder or justify a small salary as anything other than remuneration for the company admin that goes with it. Still, gov't schemes aren't always logical.

I've already said this but..

I’m registered as a personal service company – but it’s just me. Do I apply for help as an employee, or as self-employed?
The Treasury said: “Those who pay themselves a salary and dividends through their own company are not covered by the scheme but will be covered for their salary by the coronavirus job retention scheme if they are operating PAYE schemes.”


So we get nothing basically. Unless you pay yourself a high salary? But I assume most of us don't

[jamesbrown]

I've already said this but..

I’m registered as a personal service company – but it’s just me. Do I apply for help as an employee, or as self-employed?
The Treasury said: “Those who pay themselves a salary and dividends through their own company are not covered by the scheme but will be covered for their salary by the coronavirus job retention scheme if they are operating PAYE schemes.”


So we get nothing basically. Unless you pay yourself a high salary? But I assume most of us don't

Putting aside the measures connected to business rates, the absolute very best you can expect, with a highly optimistic interpretation, is that you can claim 80% of whatever PAYE salary you pay, providing you can demonstrate that you're out of work due to C19. So, for the average contractor out of work for that reason, you can expect about 600 quid per month. But I personally think it's zero.

[dx4100]

Where has this been "confirmed"? Im skeptical that any director will just be able to furlough themselves and claim back 80% of their base salary.

Chancellor gives support to millions of self-employed individuals - GOV.UK

Not good enough for you ?

[dx4100]

Hasn't been confirmed as I see it. There is speculation. You may be right (you're certainly correct about dividends, obviously). You may be wrong. Personally, I think you're wrong, but there are seemingly more people that agree with you than me. I don't see how you furlough an office holder or justify a small salary as anything other than remuneration for the company admin that goes with it. Still, gov't schemes aren't always logical.

You may be over thinking it some what...

Its on the governments own web pages so I imagine that its pretty much confirmed - as always though - devil in the detail...

[dx4100]

Putting aside the measures connected to business rates, the absolute very best you can expect, with a highly optimistic interpretation, is that you can claim 80% of whatever PAYE salary you pay, providing you can demonstrate that you're out of work due to C19. So, for the average contractor out of work for that reason, you can expect about 600 quid per month. But I personally think it's zero.

I had a period of IR35 caught so if they use 2018/2019 tax return it will be £2500 for me... This year it would be just over £600...

[northernladuk]

Chancellor gives support to millions of self-employed individuals - GOV.UK

Not good enough for you ?

It's paralytic you are replying to. Needs to be written in crayon with short sentences and no long words.

[darmstadt]

Apart from the standard Germany wide (Federal) subsidies and help for businesses, the state that I live in have also announced some extra help for freelancers, self-employed, artists and musicians and extra support for small companies up to 250 employees. For a contractor like myself I can claim up to €10,000 depending upon how much my cash flow has decreased and some other criteria...oh, and it doesn't need to be paid back either.

[jamesbrown]

You may be over thinking it some what...

Its on the governments own web pages so I imagine that its pretty much confirmed - as always though - devil in the detail...

You may be under-thinking it somewhat, given that you've linked to the self-employed scheme, which explicitly states that it is irrelevant for company directors (including for the salary portion).

[ladymuck]

Any source on that?

The clue was in the "can't remember where" bit daft to ask for a source when the poster has already said they can't remember