Limited Companies need more support, says IPSE

The Association of Independent Professionals and the Self-Employed has told the Treasury Select Committee that Limited Company contractors and those new to contracting need more government support.

Andy Chamberlain, Director of Policy at IPSE called for the government to extend the coronavirus Job Retention Scheme to include dividends, in order to help out Limited Company contractors.

He also suggested for new contractors to be able to submit their tax return for this year so they can use this information to allow them access to the Self-Employment Income Support Scheme.

Chamberlain, commented, “The Self-Employment Income Support Scheme is very generous – it’s unprecedented – but it’s got sharp edges. If you fall inside it, it’s good, but if you don’t, you get nothing.

“If you earn one penny over £50,000, you get nothing. If you only recently became self-employed, you get nothing. If you’re working through your own limited company, you get nothing under this scheme – although you may be able to get something from the Job Retention Scheme. What we’re saying is: the support available under the SEISS scheme is brilliant, but can we now get support for the people who are clearly falling through the gaps of it.”

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