The Chancellor has just announced support for the self employed
Self employed workers will be able to apply for a taxable grant of 80% of their average monthly profits based on the last 3 years tax returns up to a maximum of £2,500 a month.
The Scheme has just been announced and we are awaiting further details and will forward these as soon as possible.
Self employed workers will have to apply to HMRC and is not expected to begin until June at the earliest.
It will not apply to any self employed worker with average profits of over £50,000.
While the support at long last is to be welcomed, the timetable for applying and receiving it is going to cause many people financial problems.
The team at Hamilton Morris Waugh are actively trying to obtain, clarify and update you with full details on the workings of the Coronavirus Aid for Self Employed and we will issue further guidance tomorrow. We are here to help and support all our clients and encourage you to follow our updates and visit our website for further updates.