What happens in the situation where a taxpayer had been trading for several years as a sole trader and in summer 2019 decided to incorporate the business and set up a limited company? They keep doing the same business but no longer self - I have few hairdressers and beauty technicians in that situation
What would they do? It would be very unfair if they would be eligible for the job retention scheme only as their director's salary is £700? But their profit in 2017/18, 2018/19 has been £20-£25k?
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What happens in the situation where a taxpayer had been trading for several years as a sole trader and in summer 2019 decided to incorporate the business and set up a limited company? They keep doing the same business but no longer self - I have few hairdressers and beauty technicians in that situation
What would they do? It would be very unfair if they would be eligible for the job retention scheme only as their director's salary is £700? But their profit in 2017/18, 2018/19 has been £20-£25k?