Support for small limited companies

Early day motion 351, tabled 21 April 2020 by Jamie Stone (Liberal Democrat). Signed by 61 members.

That this House commends the Chancellor’s job retention schemes to help the employed and the self-employed during the covid-19 outbreak; in addition acknowledges that thousands of people working in a creative freelance capacity are excluded from those schemes; notes that directors of small limited companies that are often comprised of one person cannot access either scheme; further notes that, because of the way the arts industry typically functions, these people usually pay themselves a low salary and rely heavily on dividends; further acknowledges that this means that receiving 80 per cent of their salary, as offered by the schemes set out by the Chancellor, is not enough to live on; and calls on the Government to close the loophole in the job retention schemes by allowing small limited company directors to claim for 80 per cent of filed average earnings, including dividends.

Signatures by party: Scottish National Party 19, Labour 15, Liberal Democrat 9, Conservative 8, Plaid Cymru 4, DUP 3, Alliance 1, Green 1, Social Democratic and Labour Party 1.