Today the Minister for the Economy announced the details for the Limited Company Director’s Support Scheme (LCDSS). It will provide a one-off taxable grant of £1,000 to eligible company directors who meet the criteria. At scheme closure, if there is an underspend it will be distributed equally amongst approved applicants in the form of a top up grant up to a maximum of £3,500.
You can apply online from 6pm on Thursday 21 January 2021 for the grant.
What is available?
The Limited Company Director’s Support Scheme (LCDSS) will provide an initial one-off taxable grant of £1,000 to eligible company directors who meet the criteria outlined below. While applications are invited from individuals who hold more than one directorship, only one application is allowed per person.
Who is eligible?
To be eligible for the scheme you (the Director) must meet all of the following criteria:
*You will be asked to list all companies in which you hold more than a 25% share as part of your application.
If you are a director of more than one company then your remuneration (salary) and dividends from all companies must represent at least 50% of your total income.
The company/companies in which you are an eligible director must:
Please note: Whilst you will be asked to list all the companies in which you hold more than 25% of shares, you are applying as an individual, and only one application is allowed per person.
Who cannot apply?
How do I apply?
You will be able to check your eligibility for the Limited Company Director’s Support Scheme through an online checker and apply online from 6pm on Thursday 21 January 2021.
The eligibility checker and link to the application form will be published on www.nibusinessinfo.co.uk
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