Do other contractors continue to pay themselves a salary whilst on the bench, or do you sign on? Or neither?
Another contractor I work with at the client site was surprised when I mentioned I paid a salary month in month out, regardless of what the company is invoicing, so long as there are funds in the company account to do so.
My rationale is that other companies pay their staff regardless of what the company invoices. I understand that there is a grey area since I'm also the company's sole director. But since I'm paying myself a salary at all, I think it makes sense to continue to do so when I'm out of contract.
Which leads me to wonder what rights, if any, a contractor has to claim JSA and whatever other handouts are available, when I'm on the bench? Would I have to not pay a salary during this time to be eligible? Does anyone understand the legalities and tax implications of this?
Just a pondering.
Another contractor I work with at the client site was surprised when I mentioned I paid a salary month in month out, regardless of what the company is invoicing, so long as there are funds in the company account to do so.
My rationale is that other companies pay their staff regardless of what the company invoices. I understand that there is a grey area since I'm also the company's sole director. But since I'm paying myself a salary at all, I think it makes sense to continue to do so when I'm out of contract.
Which leads me to wonder what rights, if any, a contractor has to claim JSA and whatever other handouts are available, when I'm on the bench? Would I have to not pay a salary during this time to be eligible? Does anyone understand the legalities and tax implications of this?
Just a pondering.
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