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Financial Package for Self-Employed to get through Coronavirus Crisis https://quickclicksecurity.com/news/Financial+Package+for+Self-Employed+to+get+through+Coronavirus+Crisis/NDBfbmV3cw https://quickclicksecurity.com/news-images/1200/1585229721-913.jpg As part of the Government’s pledge to support the UK, Self-employed workers will be able to apply for a grant of up to £2,500 a month to help them survive the financial impact of coronavirus, the chancellor has announced. The grant wil
Financial Package for Self-Employed to get through Coronavirus Crisis
March 26, 2020

As part of the Government’s pledge to support the UK, Self-employed workers will be able to apply for a grant of up to £2,500 a month to help them survive the financial impact of coronavirus, the chancellor has announced.

The grant will be capped at those with taxable profits of up to £50,000.

The grant will be open for at least 3 months across the UK and will be extended if necessary. Anyone who has not filed their tax return in January has 4 weeks to do so.

"We’re covering the same amount of income as we are for furloughed employees, who also get a grant worth 80%. That’s unlike almost any other country, making our scheme one of the most generous in the world," he says.

Mr Sunak said the scheme was "generous" and that 95% of people who are majority self-employed will benefit from this scheme.

"HMRC are working urgently, we expect people to access it no later than the beginning of June."  Although payments will be backdated to March.

"If eligible, HMRC will contact you with an online form, they pay the grant straight to your bank account."

Rishi Sunak notes that their should be more consistency going forward with tax contributions from self employed and employed persons to ensure fairness.
 

#selfemployed #securityindustry #rishisunak

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