EIC0592

Written evidence submitted by David Yates (Managing Director at DYCE Engineering Services Ltd)

 

I am a small business owner who has been left out of income support schemes and I urgently need your help.

My Company DYCE Engineering Services Ltd based in Wakefield, West Yorkshire has been in operation for around 5 years and until this outbreak we have had a full order book, since the lock down I have not been able to bill a single hour of work as the projects on which I was working have been stopped. I work alone but when busy do take on additional contractors. As my business is reliant on manufacturing industries investing in future expansion projects I think this will be a very difficult 6-12 months or so and I am uncertain whether my company (and therefore my only source of income) will survive without government assistance.

I am supporting the #ForgottenLtd campaign, which represents directors of small limited companies who are not eligible for self-employment income support.

I am asking for the Treasury to increase the support to small limited companies and put us on an equal footing with the self-employed.

Taking on debt to support our livelihoods isn’t an option. Without rapid assistance, many of us will go under – costing jobs today and crucially those we could have created in the future.

I am calling on the government to immediately protect our incomes by extending SEISS to encompass small limited company directors based on all income for the last 3 years capped at £2,500. To include PAYE (except where already furloughed), dividends and/or income classed as repayments to a director's loan for companies not in profit.

We would also ask that you to allow furloughed directors to continue to work to support their businesses

If risk-takers, innovators, creators, and entrepreneurs are not supported now, how can we save 5.8 million small businesses and the livelihoods of 7.5 million employees?

Please correct these flaws in the support scheme.

 

June 2020