Help for self-employed during coronavirus

On Friday 20 March, Chancellor Rishi Sunak, promised to cover 80% of workers’ wages to prevent employers from laying their employees off under a new measure known as the coronavirus job retention scheme.

The Government has since come under intense scrutiny to also support the self-employed and freelancers. Today (24 March), a potential lifeline has been offered to self-employed people after an amendment was made to the Government’s ‘emergency coronavirus bill’ entitled Statutory Self-Employment Pay, this would cover up to 80% of their monthly net earnings (averaged over the last three years) or £2,917 per month, whichever is lower.

It is hoped the emergency bill will go to the Lords today, with any amends tomorrow and go back to MPs on Thursday, to allow it to comes into law by close on Thursday 26 March.

Our advice is check all information via the GOV.uk website.

We will continue to provide further guidance as we receive it, if you need answers to any coronavirus related query for you or your business, please contact a member of the PM+M team on 01254 679131.

 

 

This information is correct as of 24 March 2020. This blog is for general guidance only. Recipients should not act upon any of the information provided without seeking specific professional advice tailored to your circumstances, requirements or needs. Please contact PM+M before making any decisions based on any matters relating to this blog.

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