The Chancellor has today, Thursday 26th March 2020, announced the help that the Government intends to give financial support to the self-employed.
Support for the self employed
The support will be in the form of 80% of the average monthly net earnings (taxable profits) based on the last three years returns filed.
For self-employed who have not traded for the last three years they will take the average of what was declared but traders who have not filed a return will not receive any benefit.
The Government intends to start making payments in June, and guarantee for three months, in line with the support for wage earners.
If the pandemic continues and normal work cannot re-commence, they will consider extension to this scheme.
How do you claim?
We are now waiting for the announcement regarding how to claim and will update further as soon as the guidelines are published.
We will monitor this closely and publish updates both here and on our Facebook Page
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