The Chancellor has announced a new Self-employment Income Support Scheme to support self-employed people who have been adversely affected by COVID-19.
GOV.UK has further details about who is eligible for the scheme and how it will work.
Self-employed people do not need to get in touch with HMRC as the scheme isn’t yet open for applications. HMRC will contact eligible customers by the beginning of June, inviting them to apply.
The government has also introduced the following help for the self-employed:
- Deferral of Self Assessment Income Tax payments due in July 2020 and VAT payments due from 20 March 2020 until 30 June 2020
- Grants for businesses that pay little or no business rates
- Increased amounts of Universal Credit
- Business Interruption Loan Scheme
- Directors of their own company paid through PAYE, may be able to get support using the Job Retention Scheme.
Please note: there has been an increase in scam emails, calls and texts. If someone gets in touch claiming to be from HMRC, saying that financial help can be claimed or that a tax refund is owed, and asks you to click on a link or to give information such as your name, credit card or bank details, do not respond.
HMRC will never contact you out of the blue to ask for these details.
9 thoughts on “Chancellor announces help for self-employed”
3 month to wait for anything, how do I pay for food and bills? Could MPs live on nothing for 3 months?
Too little too late, and the DIA think they have done a wonderful job because he mentioned driving instructors,
I thought that the self employed where going to get 80% of earnings which pay out in June?
To be fair – I expect they could survive 3 months without any income – they earn, sorry I mean – they get a lot more than we do and all their expenses are all claimed back.. Win Win Win situation for them. And now they don’t need to commute to work and given £10,000 for the convenience – sorry again – inconvenience ….
The gross figure should have been used, not net. There are still business outgoings which the net figure cannot cover. Employees received gross and so should we.There should have been a basic payment to all self employed of day £ 1000 and then calculate from there. In the interim, how do they live !!!
3 months with no money its a joke am not happy with chancellor he has swept driving instructors under the carpet whereas all others are getting 80-% straigjtaway am thinking its a waste of time being self employed
My thoughts exactly
When employed people get their take home pay, they pay for cars, loans ect out of their take home pay. If they then got 80% of what was left, then had to pay for their cars, loans ect, they would struggle to pay these. Self-employed have these expenses taken out before the have their take home pay, their profit but are still expected to survive on 80% of this figure. It doesn’t seem fair to me.
Why cant they just give all self employed a set figure they know what you money you make and why wait 3 month nobody else is waiting that long.