Martin Lewis warns ‘those gaps became crevies’ as Rishi Sunak’s SEISS plans are condemned | Personal Finance | Finance


Martin explained: “So let’s take some of those principle objections, the Chancellor when he first announced support deliberately did not include limited company directors, and there are many (well, they’re not technically sole traders but the equivalent of sole traders) who operate via limited companies, who’ve missed out, all they’re allowed to do is furlough their employment income.

“But, like any accountant would tell you, for years what they’ve all been told is of course take dividends and don’t take much from employment, that’s just how it works.”

Martin highlighted that between March and April, Rishi acknowledged the problems associated with this set up and promised to address it: “He said there are many problems and we are going to have to address the way, after this, of the way that limited company taxation works.

“And I thought, fair enough, so he’s going to support them but tax them more afterwards.

READ MORE: State pension payments will rise in April but not for all pensioners

Source link


Please enter your comment!
Please enter your name here