The HMRC announced a support package on the 26th March 2020 for the self employed but this did not include support for business who operate as a Limited Company.
The only support which a Limited company can access is as follows: –
- If you are taking a wage as a director through the PAYE scheme you can use the Job Retention Scheme – this will mean that you can claim 80% of your salary through this.
- Dividends do not qualify for any support currently.
- You can Defer your VAT Payments which are due upto the 30th June 2020. Further details click here.
- Business interruption Loan Scheme
- Deferment of Tax payments due on the 31st July 2020.
Hopefully this gives you some guidance on what you can and cant claim as a limited company. If you would like more guidance on this please contact us on 01422 347880.