Head office | 01772 653 000

Fylde coast office | 01253 347 063

The Chancellor has outlined some key measures to “benefit 95% of people who are majority self-employed”. They include:

  • Those who have been adversely affected by the coronavirus can get a taxable grant worth 80% of their average monthly profits over the last 3 years, up to £2,500 per month.
  • The scheme will be open to those with a trading profit of less than £50,000 in 2018-19 or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19. To minimise fraud only those already in self-employment who have a tax return for 2019 can apply.
  • The scheme, which is being designed by HMRC from scratch, will cover the three months to May. Grants will be paid in a single lump sum instalment covering all 3 months and will start to be paid at the beginning of June.
  • To make sure no one who needs it misses out on support, they have decided to allow anyone who missed the filing deadline in January, four weeks from today to submit their tax return
  • Further information and details of the scheme will be shared shortly by HMRC
    Self-employment Income Support Scheme: bit.ly/SelfEmployedSupport

FAQs relating to the scheme, can be found here: https://bit.ly/SelfEmployedFAQs

Share Follow NWL Chamber on Facebook Twitter Share Follow NWL Chamber on LinkedIn Back to News channel

Latest Articles

OUR PATRON MEMBERS

access 2 funding logo biu blackpool and the fylde college bhm logo code galaxy fi real estate management fox group james brearley logo marriott logo merlin mina print pib insurance brokers team leyland logo