I'm in a contract at the moment, but aware that that could change at any moment on a whim from the client. Also aware that times is hard for many contractors just now.
So, just absently mulling over options. Would either/both of these possibilities be workable/legal if I was unable to get a good contract in future?
1. Based on this new government thing allowing people to take a two year break from mortgage payments. Could I take a lower paying contract, reduce my own income from my own company and then claim I'd lost income and take a break from paying the mortgage? This might tide over the "downturn", unless it drags on for years, which is possible I suppose.
2. Using reserve funds in my company bank account, could I take a low-paying (i.e. bog standard) permie job and at the same time pay myself, say, a grand a month from company reserves to top up my income? Again, to tide over the crisis, if it comes to that.
So, just absently mulling over options. Would either/both of these possibilities be workable/legal if I was unable to get a good contract in future?
1. Based on this new government thing allowing people to take a two year break from mortgage payments. Could I take a lower paying contract, reduce my own income from my own company and then claim I'd lost income and take a break from paying the mortgage? This might tide over the "downturn", unless it drags on for years, which is possible I suppose.
2. Using reserve funds in my company bank account, could I take a low-paying (i.e. bog standard) permie job and at the same time pay myself, say, a grand a month from company reserves to top up my income? Again, to tide over the crisis, if it comes to that.
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