BREAKING: Government announce Covid-19 package for Self Employed
The government have announced support for self employed people during the Coronavirus (Covid-19) outbreak.
Chancellor, Rishi Sunak, announced the following this evening (Thursday 26th March 2020):
You have not been forgotten. We will not let you behind. We all stand together, says Rishi Sunak.
Govt will pay self-employed a grant of 80% of their average monthly profits up to £2,500 a month.
Must have a tax return for 2019 to apply. Open to anyone with trading profits up to £50,000, July deadline extended until January 2021
Self employed can also access Universal credit in FULL from today.
For any business who hasn't already sent Tax update from January 2020, government allows 3 weeks to send.
Will be in place from early June