As you may have seen the Government have just announced an update to the support for Self-Employed.
Self-Employed Income Support Scheme Key points are:
- 80% of average profits over past 3 years
- Maximum of £2500 per month - Deliverable and fair / targeted support
- Trading profits up to £50K only
- Make majority of income from self-employed.
- Must have tax return for 2019 - 95% of people will benefit
- Accessible not later than June
- Allow anyone who missed filing deadline in Jan can apply
- For now - self-employed can access business loan
- Tax payments can be deferred
- Universal credit accessed in full.
If you have any questions in the meantime please do not hesitate to contact us and we will let you know if there are any further developments.