Reply With QuoteSigned. Why should we be punished and treated like second class citizens? These business arrangements are entirely legal, we pay our fair share and we should be eligible for the same support as everyone else.Originally Posted by Carnut
It seems that there are a lot of company directors on here. Hopefully you have all signed this petition.
https://petition.parliament.uk/petitions/310515
It seems that the Petition Committee have thrown the governments reply back at them. Let's hope it puts a bit of pressure on Rishi, to stop ignoring his loyal tax collectors.
Signed. Why should we be punished and treated like second class citizens? These business arrangements are entirely legal, we pay our fair share and we should be eligible for the same support as everyone else.
Signed and hopefully we get some more support
But... The scheme was put in place to protect jobs that might otherwise have been lost because a company could not afford to pay it's employees whilst the business was not trading.
It's not "an entitlement" to free money.
If you can afford to fund your employees and yourself you shouldn't be claiming.
Unfortunately it has been leapt on by many who shouldn't be claiming it and also others who think they should have it by right.
When I was working and a director I justified paying less tax on dividend payments by pointing out that I didn't get the same level of support as paye employees. So would have no problem with accepting that I wasn't eligible for furlough payments.
I will also point out that, as I was in a financial position to provide for myself during a short period of lockdown, I wouldn't have even thought about claiming as I wouldn't have needed the money.
Just signed
Signed. Thanks carnut
I signed this a couple of weeks back and got that email this morning.
I fully appreciate the comments above but it is very much all or nothing and specifically sole company directors that take dividends get absolutely nothing.
We could argue the rights and wrongs all day long but those that need help need supporting just as the self employed and employed have received.
Sent from my Pixel 2 XL using Tapatalk
It’s individual cases that many forget that are often very different indeed.
Mmmm “short period”. It will be different for everybody, the nature of our business means that we earn all our main income form April to Oct. We have invested heavily over winter. Now that everything in our industry cancelled this whole year, it’s going to be a challenging time for us. Luckily I can afford to take the bath, however we are going to have face up to the fact that we will have almost zero income fir a long period, Oct 2019 - April 2021. As for less tax on dividends, I’ve just taken my absolutely massive £2k tax free dividend, only 5 mins ago, that should see me rushing out to buy a super yacht this afternoon...... maybe not
No tears needed for me, as we will see this through, many will not though.
Sent from my iPhone using TZ-UK mobile app
Agreed.
As a partner in a firm we get nothing. Self employed status but profits are above the 50k threshold.
So we work and pay tax at the full rate. The money we have in the firm, and that over and above the working capital, all the partners have paid 40%+ on. Whilst we have furloughed some staff, we are still expected to pay our remaining staff and I suppose ourselves.
It is tough out there and whilst the stucture company directors adopte and service company arrangements, are legal in reality they are a way of minimising tax liabilities.
Sent from my moto g(8) plus using Tapatalk
Who judges if the company can afford it, huge companies have furloughed staff, forcing anyone in their supply chains to do the same, conveniently most of these companies have furloughed their accounts payable and not paid their bills, forcing their suppliers to do the same.
Signed. Thanks for pointing this out
The rules are just so massively broad brush that it's difficult not to imagine lots of "unintended" consequences. It's like the furlough scheme for employees who had just started and so weren't on the payroll. And self-employed who had recently started so had no 2018/19 (I think it was) tax return. The slightest difference in circumstance can have massive £ impact. I've had various of my (plc) dividends cancelled.
What's really annoying is that there will be a huge amount being claimed fraudulently which really is a disgrace.
One thing's for sure, we'll all be paying for it - forever.
Last edited by David_D; 6th May 2020 at 22:24.
I've signed it , I doubt it will make any difference, I'm used to getting stitched up as a company director and I don't expect much when the time comes that I need help...
Sent from my SM-G960F using TZ-UK mobile app
Just done an audit of my accounts and one of the biggest advertising groups with a massive office complex in prime central London haven’t paid an invoice due in Feb. partly my fault as I had other jobs being paid for a similar amount at the time and I didn’t notice. I just have the main switchboard which goes to an answerphone and the accounts payable email which haven’t replied. The client is a top 5 global brand we all know and use everyday.
I’ll not see that money for a while. I have paid out for the studio,assistant,catering,props and rental expenses too.
Salaried people who have never run a business (not the same as freelancing) have no idea what it takes to run a business.
Signed the petition. Although not a limited company director.
The furlough payment is only until the end of June. The payment is quite small.
One thing I would say is that anyone thinking PAYE staff of furlough have got it good is being very naive. Come f
1st July there will be a wave of redundancies and people will be out of work looking for a job with many others pre recession.
One benefit a Ltd company director might have is they are a master of their own destiny. Yes it will be tough, you have have to feel the pinch, adapt etc. I've always wanted to become my own boss but never had the balls to take the gamble. I take my hat off to those who back themselves and make it work.
I would say that a lot of hardworking PAYE are just a number to big corporations and will be thrown away as to balance the books. A lot don't see it coming either.
I am one & have signed.
Me too. And just paid HMRC thousands in Corp Tax this week so it would be nice if they could support me as clients are falling away faster than the economy.
Posting Permissions
