Self-employment Income Support Scheme

(asked on 21st April 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department plans to use tax receipts held by the HMRC in parity with the Self-Employment Income Support Scheme to determine financial support for freelancers in the North Sea oil and gas supply industry facing financial difficulties.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 27th April 2020

The Self-Employment Income Support Scheme?will allow eligible individuals to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 per month for 3 months.??Self-employed individuals, including members of partnerships, are eligible if they have submitted their Income Tax?Self Assessment?tax return for the tax year 2018-19, continued to trade and have lost trading/partnership trading profits due to COVID-19.

Alternatively, those who were on an employer's PAYE payroll on 19 March may be eligible to receive 80% of their usual monthly wages up to a maximum of £2,500 per month through the Coronavirus Job Retention Scheme (CJRS). The CJRS is available to employers, including personal service companies, and individuals paying themselves a salary through a PAYE scheme are eligible.? The scheme covers employees on any type of contract, including full-time, part-time, agency, flexible or zero-hour contracts.

These schemes supplement the other significant support announced for UK businesses, including the Coronavirus Business Interruption Loan Scheme and the deferral of tax payments. More information about the full range of business support measures is available at?www.businesssupport.gov.uk/coronavirus-business-support/

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