The Chancellor, Rishi Sunak confirmed that the self-employed could be eligible for a taxable grant worth 80% of their average monthly profits of the past three years, up to £2,500 per month, broadly aligning the scheme with the Job Retention Scheme for the employed.
In last week’s Budget, the Chancellor announced that any business which is in financial distress as a result of coronavirus (COVID-19) can seek assistance with payment of its tax liabilities by using the Time To Pay scheme (TTP).
With the headlines dominated by COVID-19 the government have announced a package of measures to support businesses
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
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