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Any financial advisor/accountants on here? 14:28 - Mar 26 with 2139 viewsingeminate

I have a one man band small business which like many ha been hit hard by the Coronavirus. I bought a business partner out around a year ago and at the time transferred his shares to my wife. Since then she hasn’t taken any salary or dividend out of the business.
Otherwise just me, no further employees and it’s a limited company.
I’m trying to work out if I’m going to be classed as self-employed or not by the government re support measures.
Anyone know?

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Any financial advisor/accountants on here? on 14:33 - Mar 26 with 2126 viewsDWQPR

I have spoken to one of my clients this morning (I am an IFA), and she advised me that firstly you would not qualify as 'furloughed staff' under the 80% salary support offer from the government. And employed spouses wouldn't qualify either. I suspect that this will be covered though under the self-employed announcement later given that company directors of small companies, i.e. effectively one man bands will otherwise be the last people standing to receiving government aid.

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Any financial advisor/accountants on here? on 14:40 - Mar 26 with 2108 viewsthame_hoops

depends how the business is set up

I'm effectively a one man consultant but i set up a ltd company. i am employed by this ltd company and i am on PAYE. however my PAYE is the minumin £10,6000 and i claim the rest in dividends so i am only entitled to 80% of £10,600!.

however my line of work is in water treatment and testing so ive been carrying on as normal and just as busy thankfully.

If you have an employee working with you they have to have been on the books from Feb 28th or before in order for them to claim their 80%. stops people quickly adding on family members as employees
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Any financial advisor/accountants on here? on 15:12 - Mar 26 with 2063 viewsdolcelatte

The portal to claim the 80% wont go live until end of April by latest estimates. If igcwirks (HMRC have form on this) then expect payments towards end of May. In other words you will need to fund a couple of months salaries before getting rebates.

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Any financial advisor/accountants on here? on 15:12 - Mar 26 with 2063 viewsElHoop

You could try reading this - it's the best estimate I've seen so far of how the scheme will look.

https://www.icaew.com/insights/viewpoints-on-the-news/2020/mar-2020/coronavirus-

I don't see how a director can be treated as self-employed as he/she isn't self employed. A director is an employee and should be entitled to be furloughed. If you make your wife a director then she could furlough you if necessary and then you would be entitled to the 80% of whatever they allow you to claim on. If you don't run a payroll then it's going to be tricky to get anywhere with the scheme. If you do run a payroll then consider amending your own salary for February and March at least.
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Any financial advisor/accountants on here? on 15:20 - Mar 26 with 2053 viewsingeminate

Any financial advisor/accountants on here? on 15:12 - Mar 26 by ElHoop

You could try reading this - it's the best estimate I've seen so far of how the scheme will look.

https://www.icaew.com/insights/viewpoints-on-the-news/2020/mar-2020/coronavirus-

I don't see how a director can be treated as self-employed as he/she isn't self employed. A director is an employee and should be entitled to be furloughed. If you make your wife a director then she could furlough you if necessary and then you would be entitled to the 80% of whatever they allow you to claim on. If you don't run a payroll then it's going to be tricky to get anywhere with the scheme. If you do run a payroll then consider amending your own salary for February and March at least.


Cheers for the replies, really helpful.

If not actually disgruntled, he was far from being gruntled. PG Wodehouse
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Any financial advisor/accountants on here? on 16:05 - Mar 26 with 1984 viewsstevec

Any financial advisor/accountants on here? on 15:20 - Mar 26 by ingeminate

Cheers for the replies, really helpful.


As I understand it, if you are directors of a limited company and on the PAYE system with HMRC then you should get the 80% just like any other PAYE employees. If you are not a Limited Company then you come under the mantra of self employed and you’re at the mercy of whatever the Chancellor eventually comes up with.

As I say, that’s how I understand it, but I’m waiting for for my accountant to advise on this. Soon as I hear anything I’ll post, unless someone gets there first.
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Any financial advisor/accountants on here? on 18:43 - Mar 26 with 1889 viewsthame_hoops

Any financial advisor/accountants on here? on 16:05 - Mar 26 by stevec

As I understand it, if you are directors of a limited company and on the PAYE system with HMRC then you should get the 80% just like any other PAYE employees. If you are not a Limited Company then you come under the mantra of self employed and you’re at the mercy of whatever the Chancellor eventually comes up with.

As I say, that’s how I understand it, but I’m waiting for for my accountant to advise on this. Soon as I hear anything I’ll post, unless someone gets there first.


You get what your p60 says which only shows PAYE and not dividends. Self assessment shows total including dividends. This 80% is only on PAYE as I understand it.
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Any financial advisor/accountants on here? on 19:10 - Mar 26 with 1854 viewsstowmarketrange

I should really post this on the corona page,but does anyone know who is entitled to this 80% of salary paid?
I work as a truck driver for a company,but my wife works for Tesco and has been advised to self isolate for 12 weeks for health reasons.She gets full sick pay for the whole time,but I’d get ssp and company sick pay if I’m genuinely sick.But should I be self isolating too because she is,or can I continue to work,with the danger of bringing something in to the house.And if I did decide to self isolate,would I be entitled to this new government scheme?
Any help would be appreciated.Thank you in advance.
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Any financial advisor/accountants on here? on 19:28 - Mar 26 with 1826 viewsthame_hoops

Any financial advisor/accountants on here? on 19:10 - Mar 26 by stowmarketrange

I should really post this on the corona page,but does anyone know who is entitled to this 80% of salary paid?
I work as a truck driver for a company,but my wife works for Tesco and has been advised to self isolate for 12 weeks for health reasons.She gets full sick pay for the whole time,but I’d get ssp and company sick pay if I’m genuinely sick.But should I be self isolating too because she is,or can I continue to work,with the danger of bringing something in to the house.And if I did decide to self isolate,would I be entitled to this new government scheme?
Any help would be appreciated.Thank you in advance.


You need to self isolate for 14 days only if your wife shows symptoms . If she’s self isolating because she is in the vulnerable catergory then you can still work but obviously be super careful as if you bring it home she’s likely to catch it

Edit if you inform your employer you are self isolating and you have no sick pay like you say. They should pay you 80% and claim it back. That’s what the firm I consult for are doing with all their staff.
[Post edited 26 Mar 2020 19:30]
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Any financial advisor/accountants on here? on 19:31 - Mar 26 with 1817 viewsElHoop

Any financial advisor/accountants on here? on 19:10 - Mar 26 by stowmarketrange

I should really post this on the corona page,but does anyone know who is entitled to this 80% of salary paid?
I work as a truck driver for a company,but my wife works for Tesco and has been advised to self isolate for 12 weeks for health reasons.She gets full sick pay for the whole time,but I’d get ssp and company sick pay if I’m genuinely sick.But should I be self isolating too because she is,or can I continue to work,with the danger of bringing something in to the house.And if I did decide to self isolate,would I be entitled to this new government scheme?
Any help would be appreciated.Thank you in advance.


The 80% scheme is about employers preserving jobs. It's not about employee's personal specific circumstances. You should speak to your employer and try to work out how best to reduce your risk of infection. They may be more helpful than you think.
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Any financial advisor/accountants on here? on 19:34 - Mar 26 with 1808 viewsstowmarketrange

Any financial advisor/accountants on here? on 19:28 - Mar 26 by thame_hoops

You need to self isolate for 14 days only if your wife shows symptoms . If she’s self isolating because she is in the vulnerable catergory then you can still work but obviously be super careful as if you bring it home she’s likely to catch it

Edit if you inform your employer you are self isolating and you have no sick pay like you say. They should pay you 80% and claim it back. That’s what the firm I consult for are doing with all their staff.
[Post edited 26 Mar 2020 19:30]


Is that for the 14 days self isolating?They wouldn’t pay that for the 12 weeks though would they?Even though that is in my wife’s best interests to stay off for 12 weeks.
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Any financial advisor/accountants on here? on 09:30 - Mar 27 with 1667 viewsElHoop

Here's the latest update on Furloughing:
https://www.icaew.com/insights/viewpoints-on-the-news/2020/mar-2020/coronavirus-
That includes the relevant HMRC links.
Owner/directors with minimal PAYE salaries are just going to have to up their salaries for this tax year and pay up the NIC, if they want to fully benefit from the furlough scheme.
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Any financial advisor/accountants on here? on 13:16 - Mar 27 with 1604 viewsstowmarketrange

My company just sent me an email saying that I’ll be part of the Furlough scheme from Sunday for 3 weeks,so the decision has been taken out of my hands anyway.Thanks for the advice given.
Stay safe folks.
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Any financial advisor/accountants on here? on 15:00 - Mar 27 with 1559 viewsBoston

To be on the safe side I have locked Mrs Boston in the basement. Now where’s the tv remote...

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Any financial advisor/accountants on here? on 12:49 - Jan 27 with 1043 viewsJulietGMiller

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I think you have to search it on the internet you will find lots of advisors there.
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Any financial advisor/accountants on here? on 09:59 - Feb 18 with 645 viewsdistortR

My friends had the same problem, and sent their money to DistortR financial services in the Isle of Man Haven of Taxes. Their money hasn't been seen since and is quite safe from the Inland Revenue and expenditure from the client.
Hope that helps
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