Invest Bounce Back Loan For A Year?

Alistair31

Morally wrong IMHO.

If you don’t need it, don’t take it.

blue_max_3

Alistair31 said:

Morally wrong IMHO.

If you don’t need it, don’t take it.

Not just picking you up on this, but how many employees, who are sat at home enjoying £2,500 handouts, probably don't need it either. If it were means tested and you had to have £0 savings, the vast majority would not be entitled.
I'm a sore limited company director who is entitled to nothing, so where's the morality from the government there?

digalumps

It is people like the OP who make me dispair of the human race.

ColdIron

blue_max_3 said:

I'm a sore limited company director who is entitled to nothing

Freudian slip?

blue_max_3

ColdIron said:

blue_max_3 said:

I'm a sore limited company director who is entitled to nothing

Freudian slip?

No, I meant sore - feeling hard done to.
All in this together, but not you!

colsten

blue_max_3 said:

ColdIron said:

blue_max_3 said:

I'm a sore limited company director who is entitled to nothing

Freudian slip?

No, I meant sore - feeling hard done to.
All in this together, but not you!

Is the reason you can't get anything that you have been paying yourself dividends, as this was more advantageous for tax purposes?

blue_max_3

colsten said:

Is the reason you can't get anything that you have been paying yourself dividends, as this was more advantageous for tax purposes?

Of course my pay is partly dividends. You'll have to believe me that there is nothing in it - we could have a long discussion, but don't want to pollute this thread. I had to go Limited for a contract many years ago now and the accountant always said there was no reason to change as no advantage/disadvantage on my income. If I earned a good wage, I would be slightly better off.

kinger101

blue_max_3 said:

colsten said:

Is the reason you can't get anything that you have been paying yourself dividends, as this was more advantageous for tax purposes?

Of course my pay is partly dividends. You'll have to believe me that there is nothing in it - we could have a long discussion, but don't want to pollute this thread. I had to go Limited for a contract many years ago now and the accountant always said there was no reason to change as no advantage/disadvantage on my income. If I earned a good wage, I would be slightly better off.

If there was no advantage to being paid in dividends via a company instead of being a salaried employee, then one would be an employee.  

digalumps

you pay yourself dividends because then you don't have to.pay employee or employer NI.

Thrugelmir

blue_max_3 said:

colsten said:

Is the reason you can't get anything that you have been paying yourself dividends, as this was more advantageous for tax purposes?

 the accountant always said there was no reason to change as no advantage/disadvantage on my income. 

The Treasury loses out though.  When changes to NIC was proposed a while back by Hammond. There was complete uproar, including indignation from the Labour benches as well. Life has a habit of coming back to bite at a later date.