Coronavirus: What pay will self-employed people get from the government ?

Within the two major economic sub regions, Central and East London, Hackney is 5th for self-employment, and follows only Islington and Waltham Forest in terms of growth. 35% of Hackney residents are self employed.

In the daily 5pm briefing on the 26th March, the Chancellor announced that the government will pay self-employed people who have been adversely affected by Coronavirus a taxable grant worth 80% of their average monthly profits over the last three years, up to £2500 a month. This scheme will be open to people across the UK for at least three months and will be extended for longer if necessary.

The Chancellor said that this scheme will be available at the beginning of June at the latest. If you are eligible, HMRC will contact you directly and ask you to fill out an online form, and then the money will be sent directly into your bank account. Crucially, anyone who missed the deadline in January, has four weeks from the announcement (March 26th) to submit their tax return.  For more details on these measures, visit the government’s Self-Employment Income Support Scheme web page.

Those who are recently self-employed, having set up since April 2019, will not receive any help under this scheme. This is because they will not have filed a tax return and therefore HM Revenue and Customs (HMRC) will not know of their self-employed status.

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