Directors: Coronavirus

(asked on 17th December 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of implementing a director's income support scheme, in the context of the covid-19 outbreak.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 14th January 2021

The Government has recognised taxpayers have faced immense challenges during the COVID-19 pandemic. It has prioritised delivering support to as many people as possible, as quickly as possible while guarding against the risk of fraud or abuse.

The Government always welcomes constructive proposals from stakeholders to improve the design of its COVID-19 business support schemes, including the suggestion for a Directors Income Support Scheme (DISS). This proposal aims to provide a new system for company directors, based on reported profits. The Government has consulted key stakeholders and is currently scrutinising the proposal in detail.

In the meantime, let me highlight that company owner managers could be eligible for existing support schemes including the Coronavirus Job Retention Scheme for the income taken by company owner managers via PAYE, Bounce Back loans, tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays and other business support grants. More information about the full range of business support measures is available at: www.businesssupport.gov.uk/coronavirus-business-support/.

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