Tax

The self employment coronavirus scheme: a quick reaction

I whacked, again, tonight so I have little energy left to cover the secrete for the self-employed tonight.

The more definitive eligibility details of the scheme for self-employed is here: Companysupport.gov.uk/self-employment-income-support-scheme/” data-saferedirecturl=”https://www.google.com/url?q=https://www.Companysupport.gov.uk/self-employment-income-support-scheme/&source=gmail&ust=1585334261132000&usg=AFQjCNEZHKmPDjY753f-xG_DzK59RPV2fA” data-removefontsize=”true” data-originalcomputedfontsize=”16″>https://www.Companysupport.gov.uk/self-employment-income-support-scheme/

But note also a give-away para in news story at https://www.gov.uk/government/news/chancellor-gives-support-to-millions-of-self-employed-individuals It says:

Those who pay themselves a salary and dividends through their own company are not covered by the scheme (self employed scheme) but will be covered for their salary by the Coronavirus Job Retention Scheme if they are operating PAYE schemes.

There will be a few red faces and disgruntled director client when this latter news gets out.

And I also think some who have gone from £50,000 to zero will also feel the same way. I am a little surprised that bar was set so low.

But overall, the scheme is fair with one massive concern right now, and that is that the delay in payment will be a massive problem for some.

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