Starting a new business? Get 40% off our accountancy services for 3 months! 😎


If you operate your business as a limited company where you’re the only director, owner, and employee, you’re probably wondering what financial support is available to help you deal with the financial impact of coronavirus COVID-19.

The government have announced a series of schemes aimed at supporting those whose income is taking a hit as a result of coronavirus COVID-19. Amongst the list of what’s available are;

Are directors of limited companies eligible for the Self-Employed Income Support Scheme (SEISS)?

Sadly, the short answer here is ‘no’. The Self-Employed Income Support Scheme is only open to self-employed sole traders who work for themselves in business. Unfortunately, this doesn’t include directors, who are, technically, employees of their company.

So where does this leave Sole Directors who are struggling as a result of the virus pandemic?


accounting services for limited companies

Are directors of limited companies eligible for the Coronavirus Job Retention Scheme (CJRS)?

Yes, directors are eligible for the Coronavirus Job Retention Scheme as long as they take a salary through a PAYE scheme on or before 28th February 2020.

This is the big problem for lots of directors at the moment, though. To be more tax efficient, most directors of limited companies take a small salary from the company, with the majority of their income being from dividends.

This means that the salary element of their income is likely to be relatively small, which might not look too healthy at all once reduced to 80%.

Using the CJRS would also mean having to furlough yourself; in effect shutting down operations completely.

Can I pay my dividends payments as salary through PAYE instead?

This is the question that is making accountants everywhere wince, as it basically amounts to fraud.

HMRC will probably only consider what has previously gone through PAYE when they set out what the criteria will be for the calculation anyway, so making any changes now is unlikely to make any difference.

The financial support available for Sole Directors

Unfortunately, there doesn’t seem to be a single solution available to sole directors who are now struggling. Instead, the support that is available is reliant on different sources, and dependent on circumstances.

These include (but aren’t limited to)

You’ll find more information available on our Business Support for COVID-19. The government have also launched a Business Support website dealing specifically with financial help for businesses and their employees affected by coronavirus.

instant quotes for online accountancy

About The Author

Elizabeth Hughes

A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible. Learn more about Elizabeth.

More posts by this author
Notify of
Inline Feedbacks
View all comments

Read more posts...

What is a Non-Established Taxable Person for VAT?

There are special VAT rules in place for online sellers who are classed as non-established taxable persons (NETPs), and use an online…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More

What Type of Legal Structure Should I Choose When I Start a Business?

The structure that you choose when you start a business affects how the business operates, the amount of tax you pay, how…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.