Can Directors Use the Coronavirus Job Retention Scheme?
If you are a director and your business has closed due to the coronavirus, you are eligible for support through the Coronavirus Job Retention Scheme (CJRS).
Directors have already been informed they can receive support for their employees, but further guidance confirms that it can be extended to directors. However, the support only extends to salaried directors. If you receive income from your company through dividends, this will not be covered.
Whilst on furlough, directors are not allowed to complete any work that would generate commercial revenue or provide services to or on behalf of their company. They can however carry out duties to fulfil the statutory obligations they owe to their company, such as completing the company accounts.
The same applies to salaried individuals who are directors of their own personal service company (PSC).
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.