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Company directors and Covid-19

Employee?

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Hi everyone

Are company directors able to be treated as furloughed workers in the same way as employees if they are unable to work?

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By michaelbeaver
26th Mar 2020 20:31

Why don't you try looking at the 12 or 13 times this has already been asked by scrolling down?

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By lionofludesch
26th Mar 2020 22:58

Most of them give the wrong answer.

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By dorset1992
27th Mar 2020 07:50

According to the ICAEW article, this is their understanding of the scheme:

Owner/managed companies

2. Many owner managed company director/shareholders pay small salaries and the balance of income as dividends. The scheme does not extend to dividends. Only the salary is relevant to the scheme.

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By lionofludesch
27th Mar 2020 08:21

What I've been saying for a fortnight.

Although it seems like weeks ..... .

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By dorset1992
27th Mar 2020 08:24

That was my understanding of the rules. When the question has been asked on Accountingweb it seems as though everybody is more interested in giving their opinion as to whether they think a co director should be allowed to be furloughed rather than any actual facts about what the government has published - I haven’t yet seen any official publication that says co directors CANNOT be included - what are your thoughts?

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By lionofludesch
27th Mar 2020 08:36

I'm including them. Sole director or not.

Up to everyone else what they wish to do.

I believe that the ICAEW have changed their view, though I'm not certain about that. Obviously, I can't now recreate their earlier advice.

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By Matrix
27th Mar 2020 08:55

Most of my sole Director companies are still working though? Much reduced income but no different to how the self employed are still keeping their business open.

Have you got all the furlough paperwork from your clients?

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By Anonymous.
26th Mar 2020 20:31

Hi Anonymous. How's it going?

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