Improve the Coronavirus Financial support for Small Limited Companies

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Rowan Williams
Rowan Williams signed this petition

The latest government statement:

Employed - 80% salary up to £2,500 per month, non means tested.

Self employed also to be given 80% median salary.

What about small limited companies or Sole traders without a business property? They are being offered 80% of your directors salary- IF you pay yourself one. And told to apply for Universal Credit and a business loan.

Why should these small business who are often sole traders and paying A LOT of taxes only be eligible for a loan? Some small limited businesses and sole traders will simply not recover next year if more support is provided.

We cant pay loan payments on top of our business outgoings and taxes. 

When we apply for mortgages or credit our SA302 earnings are used to offer us credit. The government need to do the same when supporting us.

Let’s not forget them. It’s only fair.

We’re calling on the UK Government to formally update their plan for the small limited companies and sole traders of all industries to better support us through these tough times!