Was Sole Trader - Now Ltd Director - SEISS possible?

yokozuma

Hi guys, just wondering if anyone has advice on this situation. I am a Ltd director, my UTR on the Gov website got rejected for the scheme as my profit is over the threshold. However, if you include my year as a sole-trader before I set up the Ltd the average profit over 3 years is below the threshold. My UTR number has been the same since 2016 so if the online tool ONLY looks at the Ltd it would fail.

Is there anything I can do to get the Sole-Trader year taken into consideration?

18/19 Ltd company - over threshold
17/18 Ltd company - over threshold
16/17 Sole-trader - well under threshold
Average over 3 years = under threshold. 

Thanks!

unforeseen

But you are not self employed. 

MattMattMattUK

SEISS is for the self-employed, as a limited company director you are an employee, not self-employed, therefore you are not eligible. 

calcotti

If you trade as a limited company you are not eligible for SEISS.

Grumpy_chap

As Ltd Co Director, you can consider CJRS (furlough).
You are not eligible for SEISS as you ceased sole-trader self employment in 2017.  
That works out well for you, as there is no upper threshold for CJRS eligibility, only a cap on the amount that can be paid.
Have you consulted with you Accountant?  You should do so that you can get a basic understanding of the difference between sole trader and Ltd Co. Director.

yokozuma

My apologies, I've been totally reading the wrong things this morning. And talking to the wrong (ill-informed people outside of MSE!)
Thanks for replying, I get it now. Just got a bit confused with the terms, I see now as a Ltd that furlough is the only option for now. 

Mods please feel free to delete the thread if needed!

macman

How do you currently take your payments within the limited company?  If via PAYE, then yes, you can furlough yourself. If dividends, then no.
Why would the thread get deleted? It's still helpful to others in the same situation as you.

[Deleted User]

Hi could anyone give me a bit of advice I've been self employed for the last 18 years and recieved the first 2 seiss grants but this week I set up a limited company as the company I do a lot of work through only want to give work to people through limited companies. Now today at work someone said to me that because I've set up as a limited company and started to trade i will have to pay back the Seiss grants as ive stopped trading as self employed. Is this true?. I was also told by someone else I was entitled to get the 3rd seiss grant as I was trading as self employed before. As ive been told two completely different things its made me a bit confused as I thought neither of these two things applied to me. So could someone please advise me as to where I stand. Thanks in advance Dean

poppy12345

Deanmo1234 said:

Hi could anyone give me a bit of advice I've been self employed for the last 18 years and recieved the first 2 seiss grants but this week I set up a limited company as the company I do a lot of work through only want to give work to people through limited companies. Now today at work someone said to me that because I've set up as a limited company and started to trade i will have to pay back the Seiss grants as ive stopped trading as self employed. Is this true?. I was also told by someone else I was entitled to get the 3rd seiss grant as I was trading as self employed before. As ive been told two completely different things its made me a bit confused as I thought neither of these two things applied to me. So could someone please advise me as to where I stand. Thanks in advance Dean

Please start your own thread.

Jeremy535897

poppy12345 said:

Deanmo1234 said:

Hi could anyone give me a bit of advice I've been self employed for the last 18 years and recieved the first 2 seiss grants but this week I set up a limited company as the company I do a lot of work through only want to give work to people through limited companies. Now today at work someone said to me that because I've set up as a limited company and started to trade i will have to pay back the Seiss grants as ive stopped trading as self employed. Is this true?. I was also told by someone else I was entitled to get the 3rd seiss grant as I was trading as self employed before. As ive been told two completely different things its made me a bit confused as I thought neither of these two things applied to me. So could someone please advise me as to where I stand. Thanks in advance Dean

Please start your own thread.

I agree, but the answer is easy. You don't have to pay SEISS 1 and 2 back if you still intended to continue to trade as a sole trader when you made the claims, and met all the other eligibility criteria. You are now ineligible for SEISS 3 and 4.

[Deleted User]

Sorry I'm new to the forum and didn't realise I had to start a new thread. Thanks Jeremy for your response and your answer was what I thought. Thank you