14-05-20, 07:27 PM
Quote: Mtread - Some small businesses where the "employee" is also the "employer" ie a director with a salary rather than from the dividends alone have shut themselves down unnecessarily so fall into the category ecasue they misunderstood the need to closeSorry, I don't understand that. All self employed limited companies pay themselves a minimal salary (usually the £12500 freepay allowance) and take the rest in dividends. Why would they shut themselves down because of that? They can furlough the director (themselves), and claim 80% of 12500, but that's no comparison to their previous earnings. They too can carry on working, if allowed. Why would they purposely sit at home for just £840 a month, when usually their income is £70k+ a year?
Any company that doesn't understand that perhaps should get better advice :rolleyes