Self-Employed Coronavirus Support

 
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At the press conference this evening, the government has announced new measures to support the self-employed who make up around 50% of the industry.

The government will pay self-employed people, who have been adversely affected by the #coronavirus, a taxable grant worth 80% of their average income over the last three years, up to £2,500 per month, for at least three months. Self-employed people who are eligible can apply directly to HMRC for the grant, using a simple online form; HMRC will then pay the grant straight into your bank account. This scheme will be open to those with income of £50,000 or less, who make the majority of their income from self-employment. For self-employed people who are struggling now, the goverment has also made sure that most will be able to access the business interruption loans. And they've also changed the welfare system so that self-employed people can now access Universal Credit in full. The grant will be available from early June at the latest.

A self-employed person with a non-working partner and two children, living in the social rented sector, can receive welfare support of around £1,800 per month.

Previous measures announced include:

  • Access to Universal Credit at a rate equivalent to Statutory Sick Pay for employees.

  • The next Self Assessment tax payments will be deferred until January 2021.

 
Business and EducationNatalia Kulak