Thursday, 02 April, 2020

Chancellor Announces "Grant" For Self-Employed Suffering Due To COVID-19

Coronavirus support for self-employed ‘incredibly complicated’ – Chancellor Chancellor Announces "Grant" For Self-Employed Suffering Due To COVID-19
Cecil Davis | 26 March, 2020, 21:23

It will be called the Coronavirus Self-employment Income Support Scheme, and is open to those who were trading in the last financial year, still trading now, and planning to continue doing so this year.

"If we want to all equally benefit from state support, we must all pay in equally", Mr Sunak said.

The Chancellor said the move - worth up to a maximum of £2,500 a month - would cover 95 percent of self-employed workers. The four-week extension on tax returns also means it will be at least a month before support.

The package of measures created to give thousands of self-employed people a chance of riding out the coronavirus will, of course, come too late for some. He mentioned a couple of times that there is "currently an inconsistency" between what employed and self-employed people pay in tax.

The new taxable grant will be available for three months and Sunak says will be extended if research shows it needs to be.

He said: "There are genuine practical and principled reasons why it is incredibly complicated to design an analogous scheme to the one that we have for employed workers".

She said: "Rishi Sunak started with business loans and then had to add workers and now self-employed".

"And to minimise fraud only those who are already in self-employment who have a tax return for 2019 will be able to apply", he said.

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This all comes after New York Mayor Bill de Blasio's latest update on where the state stands with battling the virus. The number of deaths in New York City increased 110 percent since Tuesday night, March 24.

He said: "I know many self-employed people are deeply anxious.To you I say this; you have not been forgotten".

The Chancellor's coronavirus press conference.

"Regardless of one's political leaning, the government's determination to "do whatever it takes" to get the United Kingdom through COVID-19 is certainly admirable". Self-employed individuals can claim 80% of their average income over the last three years up to £2,500 ($3,000) a month.

We have done so in pursuit of a single goal: to protect people's health and economic security, by supporting public services like our NHS, backing business, and protecting people's jobs and incomes.

But I know many self-employed people are struggling right now, so we've made sure that support is available.

The key issue is whether the government can set up a system which is easily accessible and quick to implement - and comparable with the scheme set up for businesses.

"Ensuring the clear communication of exactly who is eligible for this support, and how they can access it will be vital".

"Some people want to carry on working but others are anxious as it's hard to be more than two metres away from someone on a building site, and you're passing a lot of stuff between you".