Sole Traders: Coronavirus

(asked on 23rd November 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what grant support is available to one-person limited companies trading from the director's home that are affected by covid-19 restrictions.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 26th November 2020

The Winter Economy Plan set out a package of targeted measures in response to the current economic context that will enable businesses to protect jobs and manage their finances in the face of reduced or uncertain demand. These include extending the temporary VAT reduced rate for hospitality and tourism, extending the application window of the access to finance schemes, and providing further support for employees and the self-employed.

Following the extension of the Coronavirus Job Retention Scheme (CJRS), company directors who pay themselves a salary through a PAYE scheme are able to apply for CJRS support, subject to meeting the eligibility criteria of the scheme. In addition, company directors may be eligible for other elements of the package of financial support available. This includes Bounce Back loans, tax deferrals, rental support, mortgage holidays, increased levels of Universal Credit, self-isolation support payments and other business support grants.

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