Small Business Grant Fund ??

[pw66]

Anybody who are sole directors out there and received the 10k grant and pay themselves through PAYE looking at furlouhing?

You can do that, but you will be limited in what you can do while you are furloughed.
You might not get much. Most directors pay themselves just enough to get their NI stamp, and make the rest up with dividend payments for tax reasons. Dividends don't count towards the govt. 80% payment.

[Brant]

I pay myself a salary as a if a normal employee and don't take a dividend so will pay myself the usual salary and then claim the 80% back though the furlough scheme

[socialgiraffe]

I pay myself a salary as a if a normal employee and don't take a dividend so will pay myself the usual salary and then claim the 80% back though the furlough scheme

Don’t forget that, director duties aside, you are not supposed to do any work at all including marketing

I pay myself and take dividends but decided not to furlough myself as it would prevent me from doing anything with the business.

For the sake of a couple of grand I would rather do preparation and get some marketing ready for when we are “released”


Sent from my iPhone using Tapatalk

[Andrew]

Don’t forget that, director duties aside, you are not supposed to do any work at all including marketing

I pay myself and take dividends but decided not to furlough myself as it would prevent me from doing anything with the business.

For the sake of a couple of grand I would rather do preparation and get some marketing ready for when we are “released”


Sent from my iPhone using Tapatalk

There are ways around that. You can essentially do the same work as freelance. Nothing to stop you working outside of the limited company.

[socialgiraffe]

There are ways around that. You can essentially do the same work as freelance. Nothing to stop you working outside of the limited company.

Agreed, but that's not necessarily working within the spirit of the tax system. However that comment is a whole different can of worms

[Andrew]

Self employed can get the 80% and still work as confirmed by Rishi. Furloughed employees are allowed to work elsewhere and the question was also asked about a director working as a freelancer which was also stated as acceptable.

I don't think spirit of the tax system has been that considered. Grant's handed out on mass and not means tested. There are companies out there making a lot of money currently but still get the grant and free rates to boot.

[Fletcher]

Ive not heard anything from my local council. I sent my form in via email. still waiting now.

[socialgiraffe]

Self employed can get the 80% and still work as confirmed by Rishi. Furloughed employees are allowed to work elsewhere and the question was also asked about a director working as a freelancer which was also stated as acceptable.

I don't think spirit of the tax system has been that considered. Grant's handed out on mass and not means tested. There are companies out there making a lot of money currently but still get the grant and free rates to boot.

I understand what you are saying I just thought that if as a director of a company that you have furloughed yourself from, you would be on very shaky ground to then employ your services as a freelancer of the company you own. Effectively meaning you have been given an 80% pay rise by the government for as long as this mess lasts.

But then I suppose it has been introduced quickly just like the grant scheme meaning (like you say) some companies have just had a record month due to the fact that they have been given £10k whereas there are other companies that this 10k means squat.


Sent from my iPhone using Tapatalk

[Fletcher]

Ive just received My grant today. Now what to spend it on?

[socialgiraffe]

Is there anyone on here from the Hatfield and Welwyn Garden City area that has received their grant?

Asking for a friend down that way.


Sent from my iPhone using Tapatalk