Help for Ltd companies

DawnDanks123

Good morning does anyone out there know of any help for people with limited companies? My ex-husband has a limited company but he is a one man band and is struggling as he is earning little money. I can see plenty of help out there for self-employed and employed but nothing for someone running a small limited company with only one employee that being himself.

Many thanks
Dawn

Jeremy535897

Two main areas of help:
Furlough. If he furloughed himself before, or was on the payroll at 30 October, he may be able to furlough himself.
Bounce back loans. His company may be able to get a bounce back loan from its bank (or another bank if the company's bank does not do bounce back loans).

See https://www.gov.uk/government/news/furlough-scheme-extended-and-further-economic-support-announced

tripled

Company directors can claim furlough, however it's based on salary (not dividends) so depending on how your husband pays himself that may be of limited use. As Jeremy said, bounce back loans are also available. There are some council grants too, but they are mostly targeted and retail/hospitality.

calcotti

And of course Universal Credit may be an option depending on household circumstances.