Tonight Rishi Sunak announced further measures to support the self employed earners, who have previously been told Universal Credit or Employment Support Allowance would be their only option of support. He has tonight promised to provide grant funding to any self employed earners to reimburse 80% of their NET monthly profits, for the next 3 months up to a value of £2,500 per month, and the option to extend this if required. This would mean in order to get the full £2,500 you would need to be earning £3,125 per month (80% of which, is £2,500).
Welcome to the blog, packed with free financial and business advice, as well as the latest news from B-Able.
Another Corona Update...
I picked up on another couple of bits of information today, which I have outlined below in relation to VAT and Limited Company Year End filing requirements.
There was also a bill proposed to Parliament on Monday to provide a more comprehensive benefit scheme for self employed sole traders and freelancers. It is proposed to reimburse upto 80% of your NET monthly income. This will be assessed by taking an average of the last 3 years tax calculations (SA302s).
Corona Update 23/03/2020
Boris Johnson tonight announced stricter measures to combat the spread of the Corona Virus, by ordering all shops, places of worship and non-essential workplaces to close and non essential travel to immediately cease. Please just follow the government guidelines, stay at home or self isolate where required, and hopefully we can be over the worst of this in weeks rather than months.
Local Authority Funding - Business Grants
We have just went through the application process for the £10,000 grant funding, via West Dunbartonshire Council, to ascertain what is involved, this can be accessed by setting up a My Gov Scot Account, through the link below and is fairly straightforward
The UK Government are pleading with the public to take things more seriously and plan to write to 1.5 million individuals considered as the most vulnerable to stay at home for the next 12 weeks. There has been support promised to these individuals by way of food and care where required by a network of government support and volunteers.
Practical Advice for Individuals and Employers
The following scenarios have been created as a guide to assist you in the steps you should take in the coming weeks and months (based on current and available guidance, this guidance is being updated on a daily basis)
Corona Virus Update
From close of business tonight, all pubs, clubs, restaurants, theatres, cinemas and gyms have to remain shut, and this will be reviewed on a MONTHLY basis.
Tips for Business Survival
Lets go back to basics
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Self Assessment Taxes – Some handy tips
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