Government to front 80% of wages up to £2500/month

[escapeUK]

This is such a terrible idea. For how long will this be paid? You should not interfere in the markets.

Shutting down the economy is a terrible idea!

So if I'm paying myself some free government money do I end up paying NI on that? And is the £2500 the 80%, or is it 80% of £2500?

[GJABS]

This is such a terrible idea. For how long will this be paid? You should not interfere in the markets.

He said 3 months.
It is all that governments can do, is interfere in markets.

[jamesbrown]

Would strongly recommend no shenanigans. They will catch up with you. Sounds like you’d need to be benched due to COVID, whether because you have it or your contract has been terminated or you were benched for that reason, more generally, and the amount would be 80% of your payroll amount, certainly not dividends. Switching that mix for three months is asking for trouble (and may not work anyway, depending on the details).

All those measures are mostly moot w/r to contractors, as expected.

[vwdan]

Would strongly recommend no shenanigans. They will catch up with you. Sounds like you’d need to be benched due to COVID, whether because you have it or your contract has been terminated for that reason, and the amount would be 80% if your payroll amount, certainly not dividends. Switching that mix for three months is asking for trouble (and may not work anyway, depending on the details).

All those measures are mostly moot w/r to contractors, as expected.

And I have to say, rightfully so to some degree. These measures aren't about saving businesses, they're saving workers. We've chosen to be on the business end of that and reap the rewards - I know it's easy for me to say with work and a warchest, but ultimately we all should have been preparing for something like it. Worst case, you sign on to Universal Credit.

[d000hg]

I just heard mention the 80% thing is based on payroll as of 28 Feb.

So what about businesses who hired people in March, or in February but didn't get them registered?
For that matter what about brand new businesses?

Can this be updated retrospectively in legitimate cases?

[AtW]

Good, decisive move by the Govt, would have been better if it happened on last Monday, but better later than too late

[jamesbrown]

And I have to say, rightfully so to some degree. These measures aren't about saving businesses, they're saving workers. We've chosen to be on the business end of that and reap the rewards - I know it's easy for me to say with work and a warchest, but ultimately we all should have been preparing for something like it. Worst case, you sign on to Universal Credit.

Agree. Not aimed at us.

[NickFitz]

This is such a terrible idea. For how long will this be paid? You should not interfere in the markets.

It’s as if money is just a social construct. Who’d have thunk?

[dx4100]

I just heard mention the 80% thing is based on payroll as of 28 Feb.

As in how much you earn or just who is registered on the payroll ?

[escapeUK]

Agree. Not aimed at us.

Are you not a director of a company (an employee) who is paid via PAYE? I heard nothing to imply we would not qualify.