The job retention scheme introduced by the Chancellor Rishi Sunak is proving a lifeline to 8.7 million workers but, as Telegraph Money highlighted, thousands are missing out through no fault of their own.
This includes those who have set their business up in a limited company and take a modest regular salary with their income topped up at their year-end in the form of a dividend. This is not only an entirely legal way of structuring a business, but it can be commercially sensible.
The issue came up recently at prime ministers questions in the House of Commons but it was brushed away by the Prime Minister Boris Johnson as being 'too complicated' to overcome – which seems very harsh on those affected. It has highlighted, however, a fundamental question: should I operate my business in my own name as a sole trader or through a limited company. I know that this will seem basic to many readers but it is one of the most common questions asked of accountants....
Continue reading on The Telegraph website: https://www.telegraph.co.uk/money/consumer-affairs/tax-hacks-dividend-taking-freelancers-have-abandoned-think/
ExcludedUK is a newly formed non-profit NGO and serves as a collective platform for those entirely or largely excluded from the UK Government's Covid-19 financial support measures. We are a rapidly growing organisation and an inclusive community, representing a broad spectrum of individuals and businesses, but all sharing one common thread: we are excluded.
As an organisation we will play a crucial role in facilitating support and assistance on multiple levels, both for now and into the future.Our aim is to build a stronger platform, raise awareness, lobby for support, raise funds for legal challenges and help enable the changes that are needed for those excluded.Most importantly, our hope is that our efforts can help propel affected individuals and businesses forward in the face of adversity resulting from Covid-19 and being excluded from Government support, while equally ensuring we are all able to help each other emerge from this crisis.