Mar
CV-19 – Support for the self employed
The chancellor has just announced plans to support the self employed.
The government will pay a taxable grant of up to 80% of profits (averaged over the past three years), up to £2,500 per month.
It is available to the self employed who have taxable profits of less than £50,000.
A few finer points:
1. Funds will be available from June.
2. HMRC will write to the individuals who qualify. A form will be required to be completed.
3. For individuals who have not yet submitted their 2018/19 return HMRC are giving them a 4 week deadline to get the tax return in.
There’s still lots of questions to answer. Watch this space as we publish more details.
For those who have not yet completed their 2018/19 self assessment tax returns, get in touch and we can assist.
Rhys and Matt
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