There With You: Reprieve for self-employed workers impacted by coronavirus outbreak
PUBLISHED: 10:56 27 March 2020 | UPDATED: 10:56 27 March 2020
Self-employed workers will be able to claim support worth 80 per cent of their average monthly profits in an ‘unprecedented’ move to cover the impact of coronavirus, the government has announced.
Chancellor of the Exchequer Rishi Sunak said the move - worth up to a maximum of £2,500 a month - would cover 95 per cent of self-employed workers.
Mr Sunak said: “To support those who work for themselves, today I am announcing a new self-employed income support scheme.
“The government will pay self-employed people who have been adversely affected by the coronavirus a taxable grant worth 80 per cent of their average monthly profits over the last three years, up to £2,500 a month.”
The Chancellor said the scheme will be available ‘no later’ than the beginning of June.
It is open to anyone with trading profits of up to £50,000 and will only be available to those who make the majority of their income from self-employment so only the ‘genuinely self-employed’ benefit.
Mr Sunak said: “To minimise fraud only those who are already in self-employment who have a tax return for 2019 will be able to apply.”
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