Is DISS about to appear!

A Directors Income Support Scheme (DISS) is being recommended by a consortium of professional bodies to the Government.

The proposal would see this running along the same parameters as the Self-Employed Income Support Scheme (SEISS), updated details of which are now emerging from HMRC. Under the SEISS scheme sole traders and partners of partnership can claim up to £2,500 per month.

It has been suggested that the DISS scheme could be based on trading profits of the Company as reported on the annual corporation tax return, form CT600. Under the suggestion made by the consortium it is proposed that the grant would be paid to the Company. This could then be used to withdraw as income or to assist with cashflow.

Hopefully, we will see this appear in the next few weeks rather than DISS-appearing!

 

Disclaimer - All information in this post was correct at time of writing.