Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of supporting people who have been self-employed for less than a year, and are therefore ineligible for Self-Employment Income Support Scheme, by reducing the level of income tax due on their earnings during that first year.
The Self-Employment Income Support Scheme (SEISS) continues to be one of the most generous self-employed COVID-19 support schemes in the world as the economy reopens.
It has not been possible to include those who began trading after the 2018-19 tax year in the scheme. This was a very difficult decision and it was taken for practical reasons.
However, the newly self-employed may still be eligible for the other elements of the Government’s unprecedented package of financial support for individuals and businesses. This package includes Bounce Back loans, tax deferrals, rental support,?increased levels of Universal Credit, mortgage holidays, and other business support grants.