Welcome news for self-employed!

The Chancellor Rishi Sunak yesterday unveiled a comprehensive support package for the self-employed.

Flick says, "I'm delighted this generous help for self-employed people facing financial difficulties is now to be set up and the Chancellor has listened my concerns and the concerns of others."

Key points

  • Those eligible will be able to receive 80% of their monthly wages up to a limit of £2500 a month – the same as previously earmarked for employed people.
  • Money will be calculated using average monthly profits over the last three financial years.
  • The support will initially last three months and longer, if necessary.
  • The Chancellor said the new scheme will cover 95% of those people who are majority self-employed.
  • It will apply to those with trading profits up to £50,000 a year and will up and running by no later than June.

More info on my website.