CORONAVIRUS UPDATE
Help for the Self-Employed has been announced
The Chancellor announced last night that the Self-employment Income Support Scheme (SEISS) will support self-employed individuals whose income has been negatively impacted by COVID-19.
The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits up to a cap of £2,500 per month.
HMRC will use the average profits from tax returns in 2016-17, 2017-18 and 2018-19 to calculate the size of the grant.
The scheme will be open to those where the majority of their income comes from self-employment and who have profits of less than £50,000.
The scheme will be open for an initial three months, with those who are eligible, able to make their first claim by the beginning of June.
If MDH complete your self-assessment, you will receive our information sheet today.
If MDH do not compete your self-assessment, please email natalie@mdh.me.uk, and we will send this over to you.
If you are concerned about how Covid-19 will affect you and your business, please give us a call on 020 8647 0297.
Although the MDH team are now working from home, we are still here to support you with whatever concerns you may have.
We have prepared information sheets detailing the different packages and schemes the Chancellor has set out, the eligibility of these schemes, and how to get access.
If you would like these information sheets, please email natalie@mdh.me.uk, and we will send these over to you.
