COVID-19: Statutory self-employment pay scheme
The Coronavirus Bill includes provisions for a proposed scheme of statutory pay for the self-employed. Those measures have been changed: the chancellor announced the following new measures on 26 March 2020:
Support for the self employed (not available for Directors of OMBs:
- The scheme is expected to commence paying out in June 2020.
"HMRC are working on this urgently and expect people to be able to access the scheme no later than the beginning of June."
- The scheme allows you to continue to trade /work if at all possible. "You’ll be able to claim these grants and continue to do business."
The comparable Employee Job Retention scheme for employees will apply to furloughed workers, including furloughed Directors laid off during the crisis and has a cap of £2,500 per month.
Other available measures -
Self employed individuals are also urged to apply for increased availability of Universal Credit available to them.
Delay payments of tax due to HMRC
Contact your landlord / letting agent (rent payers) -
See further guidance for tenants
Contact your bank / mortgage lender (property owners) to discuss a payment holiday.
External links -
HMRC Guidance -
Claim the coronavirus covid 19 self-employment income support scheme grant
Chancellor gives support to millions of self employed individuals
Chancellor’s statement 26 March 2020
Coronavirus Bill 23 March 2020
Coronavirus (COVID-19): what you need to do