Following the Chancellor's announcement on 26th March regarding the support anticipated to be available to the self-employed, we've uploaded another video to summarise some of the key points:
Please note that the 80% calculation mentioned in the video is only up to a maximum claim of £2,500 per month for at least three months, mirroring some of the key features of the scheme announced for furloughed employees on 20th March.
It is very early days for several entirely new measures and we are hoping for much more clarity to come through as soon as HMRC can provide it but in the meantime, here is the latest guidance on HMRC’s website for those of you that are self-employed: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
Here is also a link to our institute's article regarding the latest measures for the self-employed -https://www.icaew.com/insights/viewpoints-on-the-news/2020/mar-2020/coronavirus-chancellor-unveils-self-employed-support-scheme?utm_campaign=Members%20-%20ICAEW&utm_medium=email&utm_source=1360250_ICAEWmonthly_News_27Mar2020&utm_content=round&dm_i=47WY,T5KQ,JWPCR,3IIUL,1
You can also sign up for updates as things change on the Gov.uk website - updates are taking place all the time -https://www.gov.uk/email-signup?link=/government/topical-events/coronavirus-covid-19-uk-government-response
We will try to keep our own website and latest news as up to date as possible and send out email updates to you when we have more detailed guidance but for now, please take care and stay safe.
Jono, David and all of the Team at B&T