SELF EMPLOYED INCOME SUPPORT SCHEME


March 27th, 2020.


Chancellor Rishi Sunak has announced the Self-Employed Income Support Scheme to help Britain's 5m self-employed get through the coronavirus pandemic.


UPDATED: Chancellor Rishi Sunak has announced a Self-Employed Income Support Scheme to help Britain’s 5m self-employed get through the coronavirus pandemic.

The Self-Employed Income Support Scheme will offer a taxable grant of up to 80 per cent of a self-employed person’s income based on their taxable profits over the past three years, capped at £2,500 per month.

The scheme will only become available at the beginning of June and will have an initial three-month lifespan, to be reviewed.

And the Self-Employed Income Support Scheme will only cover those who paid tax on trading profits of up to £50,000 of income in 2018-19.


For the full story at smallbusiness.co.uk CLICK HERE.

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