I fly on a business jet, and we always include in the emergency briefing "no actions below 400ft, except gear retraction". So I put my hands back on the thrust levers at 400ft. For example in case of an engine fire, the flying pilot takes the appropriate engine back to idle, after reaching 400ft. The PNF then confirms it and shuts it off according to the checklist (memory items). This is according to our OM(B) and I think it makes sense.