Self-employment Income Support Scheme
The UK Government has announced a package of support for the Self Employed impacted by the Coronavirus outbreak, bringing support to the same level as that for employees.
The new Self-Employed Income Support Scheme, means those eligible will receive a cash grant worth 80% of their average monthly trading profit over the last three years. This covers 95% of people who receive the majority of their income from self-employment. Find out more here.
Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis, all UK businesses are eligible. Find out more here.
HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers. Workers can find out more here.
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