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Ross Miller
Ross Miller,
Category: Law
Satisfied Customers: 1325
Experience:  Director (Litigation and Mediation) at Hilltop Solutions
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I am a Managing director of my own limited company. I own

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Hello, I am a Managing director of my own limited company. I own 100% shares. I do not have a business premises as I use my home as my home office.
JA: Have you talked to a tax professional about this?
Customer: no not yet
JA: Anything else you want the Accountant to know before I connect you?
Customer: i would like to know what government help I will be entitled too due to Covid-19, I take a salary of £719 per month, but I read a small business I will be given a grant of £10k?


Hello my name is Ross and I will be the expert assisting you with this matter today.


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Thank you.


Is this your only source of income?

Customer: replied 12 days ago.
Hi, Yes it is.

Ok thank you. So from what has been dictated from the government, you will qualify for this benefit on potentially two grounds. 1. If you are self employed then you can get up to 80% of your salary. However, from what you have stated you are taking the right amount so that you are not eligible to pay NI or Income tax so the other option for you is that you can claim up to 80% on your income. However, the government haven't been very clear on the rules for this so allow me to help clarify for you;....

You can make a claim for up to 80% however this is slightly misleading. It is only 80% of your PROFIT and not your takings. So if you are not making any profit then you may have to claim on your income rather than the business income. In order to qualify for this you have to be able to show spreadsheets showing your profit and loss. Additionally, you will have to be able to show that you have submitted your tax return for the previous year (2019). They have not yet explained what you do if you business is newly registered however, I would imagine that you will not receive help on the basis that you have not completed a tax year much like you don't get certain benefits if you don't pay NI. I will keep this feed open for you as no doubt there will be more information coming in the upcoming days which will provide further clarity.


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Kind regards



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Customer: replied 12 days ago.
Thank you for your response Ross. It seems as though I may need to wait for Rishi to give further information for people in a similar position to myself. Happy to give feedback and get in touch if anything changes in the mean time. All the best, stay safe! Thanks, Ben

Thank you Ben, I think they are doing their best but there are always going to be people such as your self who fall between those unclear cracks but we are receiving constant updates. We are all in this together, stay safe and lets hope it is all over soon enough. Ross.