Originally posted by 94bb
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Previously on "Furloughing from limited company and seeking alternative employment"
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Originally posted by 94bb View PostI have no idea, but I suspect around the £12k mark so its tax efficient. Ignoring the subjectivity judgement, technically furloughing themselves from their limited looks legal and in line with HMRC guidance i.e. its perfectly ok to have other employment. Has anyone come across material to prove otherwise?
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Originally posted by northernladuk View PostWhat do they pay themselves from the LTDs. Can't be very efficient if they do and have a full time job as well?
I don't see what is stopping them working if they sell and buy property.
Sounds like a bit of a piss take to me.
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What do they pay themselves from the LTDs. Can't be very efficient if they do and have a full time job as well?
I don't see what is stopping them working if they sell and buy property.
Sounds like a bit of a piss take to me.
Leave a comment:
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Furloughing from limited company and seeking alternative employment
A few contractor friends are going to be furloughing themselves from their newly repurposed contracting limited companies (i.e. now a real estate purchase and sale SIC) the impact from COVID are obvious, drops in property appetite close to zero.
The potential challenge is, these same people also have another job as permanent employees. Technically speaking it looks like they can still claim being furloughed from one particular employee, is this correct?
It seems the overarching intent of the scheme is a) to prevent people from being made redundnant, but b) also a form of quantitative easing, injecting cash into individuals rather than the traditional banking global markets systems.
Thoughts?
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