Company directors should get the same COVID assistance as the self-employed and employees.

Company directors should get the same COVID assistance as the self-employed and employees.

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Martin Robertson started this petition to Rishi Sunak ~ Chancellor of the Exchequer

I run a Chartered accountancy practice and am seeing first hand the impact of COVID 19 on small business. I am also seeing the positive impact of the Government's assistance for employees and self-employed business who are grateful for it

However, there is a huge section of the business community who have fallen through the cracks in the current government support and who are really struggling financially. These people are the director / owners of small limited companies. Over half of our clients fall into this category and they make up a huge proportion of the small business sector. 

So how do they fall through the cracks:

1. If they take a salary equivalent to their personal  tax allowances ( as very many do) then the furloughed director will be able to access an amount that is equivalent to only 33% of the £2,500 an employee can access if furloughed.

2.They cannot claim anything in relation to their profits, as the self employed can.

3. Many small limited companies have a sole owners / director  and do not have property with a  rateable value so do not meet the criteria for the small business grant funding.

I am seeing very many such businesses under deep financial pressure, many are using their savings to survive.

I request that the Government applies the same 80% assistance for company directors / owners, taking into account their salaries and dividends, as they have for employees and the self-employed

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At 1,000 signatures, this petition is more likely to be featured in recommendations!