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1190544
registered interest false more like this
date remove filter
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Directors: Pay more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, whether he plans to support people who earn the majority of their income through dividends as directors of limited companies, and who are ineligible for the Coronavirus Job Retention Scheme or the Self-Employed Income Support Scheme. more like this
tabling member constituency Romford more like this
tabling member printed
Andrew Rosindell more like this
uin 40524 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-05-05more like thismore than 2020-05-05
answer text <p>Income from dividends is a return on investment in the company, rather than wages, and is not eligible for support. Under current reporting mechanisms it is not possible for HM Revenue and Customs to distinguish between dividends derived from an individual’s own company and dividends from other sources, and between dividends in lieu of employment income and as returns from other corporate activity. Expanding the scope would require HMRC to collect and verify new information. This would take longer to deliver and put at risk the other schemes which the Government is committed to delivering as quickly as possible.</p><p> </p><p>Individuals who are not eligible for the Coronavirus Job Retention Scheme or the Self-Employment Income Support Scheme may be able to access other support Government is providing, including the Bounce Back Loans Scheme for small businesses, the Coronavirus Business Interruption Loan Scheme, and the deferral of tax payments. More information about the full range of business support measures is available at: <a href="http://www.businesssupport.gov.uk/coronavirus-business-support/" target="_blank">www.businesssupport.gov.uk/coronavirus-business-support/</a></p>
answering member constituency Hereford and South Herefordshire more like this
answering member printed Jesse Norman more like this
question first answered
remove filter
answering member
3991
label Biography information for Jesse Norman remove filter
tabling member
1447
label Biography information for Andrew Rosindell more like this