Help for self employed on the way as workers set for 80% of profits up to £2,500 per month
The Chancellor has now unveiled his plans for support for self employed workers
The UK government has been working on a strategy to support self-employed workers in the UK in the wake of the Covid-19 outbreak. This, of course, has a huge impact on the driver training industry as most ADIs/PDIs are self-employed.
Self-employed workers will be entitled to 80% of profits, up to £2,500 per month.
The chancellor stated that this would cover 95% of the self-employed base. The scheme is expected to take until early June to setup. After this system has been setup, the 3 months will be given in one go.
In the meantime people can apply for universal credit, however there is a 5-week wait for the initial payment. Advance payments can be given to vulnerable households within days if required.
Tax authorities will contact those eligible for the program.
For those that don’t have 3 years worth of accounts, they will look at what information is available and average this number out. For those with no years worth of accounts, unfortunately they will be reliant on the welfare system.
More details will be released over the coming days.