Reply to: Mortgage holidays extended for up to six months

[Mordac]

It's how things are - he's one of the many for whom no support is available other than via Universal Credit (once his assets have been burned enough to make him eligible).

About 3 million, apparently: Three Million Excluded - The Breakdown | ExcludedUK

[Paralytic]

Janet and John go contracting.
John starts up a limited company and makes himself director.
Janet says, did you know that you are now an employee of your limited company because your limited company is a separate legal entity?
John answers no, I did not know that.
Some time later, John gets into difficulty and he can't find any new contracts, he wants to close his limited company.
Janet tells John, you have been paying yourself the minimum in salary and drawing dividends, however your limited company can still pay you a lump sum in redundancy if there is money in the account.
Redundancy? replies John.
Yes, you ignorant twat. Your limited company that you own can make you redundant. If you don't know how to do that, ask your accountant or transfer your limited company to me and I will fn do it.
John was still puzzled, there is no hope for some contractors.

Thanks for that John.

[ascender]

How is he doing ok on his warchest if he's dipping into money put aside to pay taxes? That's a huge concern. Did he not consider taking out a BBL? Applications are open to the end of the month IIRC.

We didn't get in to the detail, but I'm guessing both could do with a better accountant as a first step.

I've heard of quite a few people resorting to their tax accounts to get by tbh.

[AtW]

Correct, but if you a "working" for a client co, you can't just pay dividends, you must have some form of PAYE

Worker isn’t always an employee too, right?

Whole employment system is so fooked in this country

[Paddy]

Director is not automatically an employee, Shirley still true?

Asking for a Director fiend

Correct, but if you a "working" for a client co, you can't just pay dividends, you must have some form of PAYE

[AtW]

Director is not automatically an employee, Shirley still true?

Asking for a Director fiend

[Paddy]

Who was made redundant, and by whom?

Janet and John go contracting.
John starts up a limited company and makes himself director.
Janet says, did you know that you are now an employee of your limited company because your limited company is a separate legal entity?
John answers no, I did not know that.
Some time later, John gets into difficulty and he can't find any new contracts, he wants to close his limited company.
Janet tells John, you have been paying yourself the minimum in salary and drawing dividends, however your limited company can still pay you a lump sum in redundancy if there is money in the account.
Redundancy? replies John.
Yes, you ignorant twat. Your limited company that you own can make you redundant. If you don't know how to do that, ask your accountant or transfer your limited company to me and I will fn do it.
John was still puzzled, there is no hope for some contractors.

[AtW]

Vetran in the bedroom death by snu snu

Amazon!

[vetran]

vetran is not in the game because he ain’t got a clue...

Vetran in the bedroom death by snu snu

[AtW]

Contractor Cluedo - sounds great


AtW in the server room with a squirrel.

NAT in the departure lounge with a cuckoo clock.

Tarbie in the Bookies with a stripper's thong.

Darmie in the BDSM club with a butt plug.

etc.

vetran is not in the game because he ain’t got a clue...

[vetran]

Ah, makes sense. I didn't know they'd released a new version of Cluedo.

Contractor Cluedo - sounds great


AtW in the server room with a squirrel.

NAT in the departure lounge with a cuckoo clock.

Tarbie in the Bookies with a stripper's thong.

Darmie in the BDSM club with a butt plug.

etc.

[AtW]

Ah, makes sense. I didn't know they'd released a new version of Cluedo.

It’s NL’s accountant’s prison release we should all worry about...

[Paralytic]

northernlad, by his accountant in the cold bodies storage

Ah, makes sense. I didn't know they'd released a new version of Cluedo.

[AtW]

Who was made redundant, and by whom?

northernlad, by his accountant in the cold bodies storage

[Paralytic]

As an employee of a limited company, you are entitled to redundancy money. It's worth seeing a really good accountant.

Who was made redundant, and by whom?