The Government yesterday announced its support package for those who are self-employed and will be affected by the Coronavirus crisis.
The support being given is one of the most generous packages in the world, and will ensure that all self- employed people in the UK – the musicians, the sound engineers, the plumbers, the electricians, the taxi drivers, the hairdressers, the childminders, the driving instructors, and many others – have the financial support to see them through the crisis.
The new measures will mean that the Government will pay self-employed people across the whole of the UK a grant worth 80 per cent of their average monthly profits over the last three years, up to £2,500 a month, for three months – and are willing to extend it for longer if necessary.
Self-employed people who are eligible will be contacted by HMRC directly, asked to fill out a simple online form, and HMRC will pay the grant directly into their bank account.
This comes as part of a wide package of support already announced for businesses, including the Coronavirus Business Interruption Loans Scheme which provides loans of up to £5 million, and the Coronavirus Job Retention Scheme which will pay 80% of furloughed workers’ salaries, up to £2,500 a month.
Commenting, Damien said:
“ I believe strongly that support for the self-employed is vital through this health emergency we are facing.
“ This announcement puts in place that support. Businesses are now able to go through a simple application process for grants which will cover up to £2,500 of lost monthly profits, and this grant will be backdated.
“ The Government is doing all it can to support people and businesses through this national crisis, and we have been clear that if further action is needed, we are more than willing to intervene.
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