Chancellor Rishi Sunak's self-employed support package

Many constituents have contacted me recently about the impact Covid-19 and the issues current lockdown restrictions are having on their ability to make enough money to cover bills. Let me start by reassuring you that I not only get the problems you are facing but have also stressed it to both Business Ministers and Treasury Ministers.

I am pleased that this evening the Chancellor was able to offer an unprecedented package of support. It has taken longer for us to find a process to administer this package in a fair way whilst ensuring the self employed have the support they need.

The complexity and effort needed to create a whole new system of delivering financial assistance and the need to accommodate the unique circumstances of individuals as quickly as possible, has understandably meant that self-employed have had to wait longer than those enrolled through the PAYE system.

More details will continue to be released regarding this new scheme for the self-employed but there are some crucial points to make clear:

1. The Self-Employed Income Support Scheme is open to those with income of £50,000 or less who make the majority of their income from self-employment.
2. The scheme will pay 80% of these average profits over the past three years and, like regular workers, this will be worth up to £2,500 per month.
3. Self-employed people who are eligible can apply directly to HMRC for the grant using a simple online form. HMRC will then directly pay the grant straight into your bank account.
4. HMRC is working to deliver the scheme as quickly as possible with grants expected to be paid out by the beginning of June, therebyallowing individuals who have not submitted their returns for 2018-19 to do so and become eligible for the scheme.
5. For the self-employed struggling now, the Treasury have made sure that most will be able to access the business interruption loans.
6. The welfare system has also been adapted so that self-employed people can access Universal Credit in full.

This is welcome news for the self-employed. You can stay updated with the process online and follow the business advice being given at a local and national level: https://www.businesssupport.gov.uk/self-employment-income-support-scheme/

If you need my support or know someone who does at this time of national crisis then email [email protected]