Reply to: Ipse Welcomes - government “historic lifeline to contractors”

[PerfectStorm]

When the tide goes out we'll see who was really wearing IR35 pants......

The funny thing is that most contractors were ready to tough it out as usual until they realised that someone else was getting something

[woohoo]

Precisely.

Utterly laughable and really quite pathetic to suggest that the gov’t should offer handouts for dividends not received.

Perhaps they could just bailout our companies.

[Andy Hallett]

When the tide goes out we'll see who was really wearing IR35 pants......

[PerfectStorm]

I’m afraid that I won’t be signing, I will use my warchest - that’s what it’s there for.

Agreed. If anyone manages to get 80% of £700 or whatever it'll be a bonus.

[eek]

125,000 people who understand nothing and are likely to screw things up for everyone else.

Mind you IPSE didn’t understand the issues either so it’s not surprising

[jamesbrown]

I’m afraid that I won’t be signing, I will use my warchest - that’s what it’s there for.

Precisely.

Utterly laughable and really quite pathetic to suggest that the gov’t should offer handouts for dividends not received.

[cojak]

I get the argument. And at the moment, I don't need the money and would rather it go to those that do. I'll take the mortgage holiday and consider that a bump.

It's not like I was hoping to get any clients in March anyway.

There will be times when we don't win, just as with sick pay. You must take the rough with the smooth.

If you disagree: Petition . Small Ltd Company Directors to get Government support like the Employed and Self Employed . Change.org

I’m afraid that I won’t be signing, I will use my warchest - that’s what it’s there for.

[tester552]

I get the argument. And at the moment, I don't need the money and would rather it go to those that do. I'll take the mortgage holiday and consider that a bump.

It's not like I was hoping to get any clients in March anyway.

There will be times when we don't win, just as with sick pay. You must take the rough with the smooth.

If you disagree: Petition . Small Ltd Company Directors to get Government support like the Employed and Self Employed . Change.org

This scheme is to cover workers renumeration for their work not shareholders and investors profits, these two roles are normally totally separate unless you have a PSC.

You dont want to tell me do you that when the taxman comes you declare some of the money as shareholders profit - a reward for investing in profitable a company - because the tax is less on it, but when you need taxpayers help you want to suddenly think of the same money as your renumeration for the work.

If this money is a wage it goes to wage expenses in your accounting system and paid out as wage. It cannot be dividend from profits when you tax it, but wage expense when you need to claim against it - your accounting records clearly tells you what this money is, there is no way around it.

Sorry, but government doesnt have money to cover all the investment gains, if they would cover your dividend income, they should cover everyone elses past dividend income and capital gains from stocks on the stock exchange.

[oliverson]

Like midgets ?


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Ha ha ha ha

[northernladuk]

Nice spot and certainly answers many of the questions. Still doesn't help those that are asking what help there is but have been on the bench for awhile.

[Glencky]

… and just by way of update: Martin Lewis has now confirmed with HM Treasury that Ltd Co directors can furlough themselves as an employee and take the 80% grant applied to the level of their PAYE earnings.

https://twitter.com/MartinSLewis/sta...19949605728257

Now just need to see it in writing from a government source, and we can be confident.

As I said in my earlier post, I don't intend claiming anything at this time because I'm working. But if this is still going on when my contract extension ends, I will consider it. God knows, I've been paying enough tax for years to feel justified in it!

Thought I'd post it here for others for whom this is a help. I think there's zero chance of the government underwriting dividend income, but perhaps for quite a lot of people who've been operating outside, 80% of their PAYE element would be better than nowt.

[GhostofTarbera]

18,000 people have signed it

Just How small are these people - anyhooo will give HMRC a great tax dodger list


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[eek]

Like midgets ?


Sent from my iPhone using Contractor UK Forum

18,000 people have signed it

[GhostofTarbera]

I get the argument. And at the moment, I don't need the money and would rather it go to those that do. I'll take the mortgage holiday and consider that a bump.

It's not like I was hoping to get any clients in March anyway.

There will be times when we don't win, just as with sick pay. You must take the rough with the smooth.

If you disagree: Petition . Small Ltd Company Directors to get Government support like the Employed and Self Employed . Change.org

Like midgets ?


Sent from my iPhone using Contractor UK Forum

[Lance]

Whilst I agree with some of what you said, this last bit is... wildly over optimistic.

IMHO.

I'd like to be wrong.

Well yes. Let's be clear though. The giovernment may well declare the crisis over and stop all financial help after 6 months. We'll be suffering the economic damage for 20 years though. This whole tulipshow is not close enough to my retirement for me to ignore, but close enough to cause problems getting me to the position I planned to be in.