COVID-19 Support for the Self-Employed
This information details the support available to the self-employed specifically in response to the COVID-19 outbreak. Generic business information can be found within our other pages.
UPDATE 29th May 2020
The government’s Self Employment Income Support Scheme will be extended, giving more security to individuals whose livelihoods are adversely affected by coronavirus in the coming months.
For more information click here
UPDATE 27th March
Self-employment Income Support Scheme
Further support is now available for self-employed individuals (including members of partnerships) who have lost income due to coronavirus (COVID-19). For further information and how to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months see links below
UPDATE 25th March
Support for the Self Employed
Time to Pay – scheme to help all businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service.
https://www.businesssupport.gov.uk/time-to-pay/
Income Tax Deferral – Income Tax payments due in July 2020 for the self employed under the Self-Assessment system will be deferred to January 2021
https://www.businesssupport.gov.uk/income-tax-deferral-for-the-self-employed/
Universal Credit – the self-employed can claim Universal Credit if required to stay at home or are ill as a result of coronavirus .https://www.understandinguniversalcredit.gov.uk/new-to-universal-credit/self-employment/
UPDATE 12th March
In the Budget (11th March 2020) the Chancellor announced a number of measures to help small businesses cope with the effects of the coronavirus outbreak, including:
- Statutory sick pay– SMEs (businesses with fewer than 250 staff) will be refunded in full the cost of statutory sick pay for up to 14 days for an individual.
- Businesses and self-employed– individuals in financial distress and with outstanding tax liabilities will be able to access support to agree a bespoke Time to Pay arrangement. HMRC has agreed to waive late payment penalties and interest where a business experiences administrative difficulties due to COVID-19. Businesses need to contact HMRC to access this.
