Share this content
7

Ltd Co = Nil, Late S/E Taxpayer = Claim

Ltd Co = Nil, Late S/E Taxpayer = Claim

Didn't find your answer?

How can it be right that a self employed individual who has not yet filed a 2018/19 tax return and so has probably not paid the tax be entitled to support when a genuine freelancer operating via a Ltd Co and paying CT, VAT and personal tax on time and being fully compliant is worthy of nil? 

It seems that the Chancellor is attacking this entire business structure. Does he view these as tax avoiders?

Why not reduce the % of income covered if he feels that they have not contributed 'fairly' to the system rather than using their contributions to fund payments to others whilst leaving them with nil?

Replies (7)

Please login or register to join the discussion.

avatar
By Accountant A
26th Mar 2020 21:12

What I heard was that self-employed earnings had to be the main source of income. That being the case, would large dividends disqualify anyway?

EDIT: "To qualify, more than half of their income in these periods must come from self-employment."

Thanks (0)
avatar
By NH
27th Mar 2020 05:13

Yes the small company Director has been screwed - all their staff will be getting paid at least 80% of their income and they will be getting hardly anything.

Thanks (1)
By Duggimon
27th Mar 2020 09:54

CWservices6064 wrote:

It seems that the Chancellor is attacking this entire business structure. Does he view these as tax avoiders?

This government loathes personal service companies. Since the Conservatives came in to power they have raised the dividend tax, forced IR35 on businesses to whom it ought not to apply and now have neatly omitted them from almost any help through this crisis.

All because they believe their own propaganda about these businesses paying almost no tax, when in fact they just pay slightly less tax than the equivalent self employed business.

Thanks (1)
avatar
By Southbankdelboy
27th Mar 2020 11:11

Am I missing something-the Chancellor in his speech yesterday said adding the self employed scheme meant 80% of corporate turnover was covered and...

"For the remaining 20% of businesses they are looking at putting a scheme together"

Could the Government be looking at designing a similar scheme for small limited companies?

Thanks (1)
Replying to Southbankdelboy:
avatar
By CWservices6064
27th Mar 2020 11:27

I may have missed that, let's hope so!

Thanks (0)
Replying to Southbankdelboy:
avatar
By CWservices6064
27th Mar 2020 11:27

I may have missed that, let's hope so!

Thanks (0)
Replying to Southbankdelboy:
avatar
By CWservices6064
27th Mar 2020 11:27

I may have missed that, let's hope so!

Thanks (0)
Share this content

Related posts