Quick background. I'm a director of a Ltd co and due to this virus a lot of the work for this year has dried up (I do a lot of work for the 'events' industry).
I have a 'float' of cash in the business which will enable me to run PAYE for a couple of months, however this will run out at some point.
I've been told I can 'furlough' myself and collect the 80% of PAYE, however during this period the company must remain dormant i.e. not collecting money nor settling expenses.
My company has several revenue streams that are autonomous and also settles its expenses via DD ie. hosting costs, software licences etc etc. Can the company continue to rumble on without paying PAYE but otherwise operating by itself ??
confused.com
I have a 'float' of cash in the business which will enable me to run PAYE for a couple of months, however this will run out at some point.
I've been told I can 'furlough' myself and collect the 80% of PAYE, however during this period the company must remain dormant i.e. not collecting money nor settling expenses.
My company has several revenue streams that are autonomous and also settles its expenses via DD ie. hosting costs, software licences etc etc. Can the company continue to rumble on without paying PAYE but otherwise operating by itself ??
confused.com
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