Am I a business or self employed?

XEO25

Hi,

I'm trying to understand whether I'm classed as a business or self employed when it comes to government support regarding coronavirus - the level of support appears to differ significantly for each group.

I'm a director of my own Ltd company (9 years old)

calcotti

For Universal Credit you would normally be treated as self employed.

Don't know the answer in respect of the latest support measures. Obviously we are still awaiting detail behind the headline announcements made yesterday.

ledge97

I'm not 100% sure on this, but my understanding is that in your circumstance you would still be classed as a employee to your company. So hopefully the goverment will support you with 'Coronana virus retention scheme'. Hopefully in the next couple of days they will shed some light on this ! 

ledge97

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-guidance-for-employees

Hopefully this might help. I think it's a question of whether they support you as an employee.  Fingers crossed and let us know how you get on, all the best 👍

p00hsticks

ledge97 said:

I'm not 100% sure on this, but my understanding is that in your circumstance you would still be classed as a employee to your company. So hopefully the goverment will support you with 'Coronana virus retention scheme'. Hopefully in the next couple of days they will shed some light on this ! 

You'd be classed as an employee, but - according to the BBC Radio 4 Moneybox program I'm just listening to - the support will be based on the PAYE salary the company paid you in February. So if you are one of thoe directors who takes just enough to cover an NI credit and pays the rest in dividends it may not be a great deal.

pauld09

i think self employed is better option to say

Jeremy535897

I fear that, at present, you may struggle to obtain any help, because the help for employers (your company) is only to stop them sacking people. Consequently it is only paid in respect of employees are furloughed, and that means doing no work for your company at all (arguably including even looking into whether it qualifies for help). You are not in an industry that is targeted for special assistance (leisure etc) and you don't occupy property. If the company pays VAT there is some temporary relief, and you might get a business interruption loan. I would hope that the Government will do more to help the self employed and sole directors.

XEO25

Thanks for the replies. It sounds like my best bet will be the loan support, which isn't ideal. I'll keep an eye out for the details next week.

Best of luck to anyone in the same boat.