Self Employed Support - Covid 19

This information is correct at the time of writing, the information is subject to change.

The chancellor has this afternoon announced help for the self employed during the corona virus crisis.

HMRC will contact self employed people themselves with details of a grant up to equivalent 80% of earnings per month capped at £2500 per month. This is to essentially mirror the PAYE scheme.

They will use the last 3 years of accounts information and it will be eligible to businesses/individuals that filed an 18/19 tax return with profits of less than £50,000

The Revenue expect the first payments to be made in June where they will backdate 3 months together from April.

A new web portal has also been set up

businessupport.gov.uk