0 £0.00
This item was added to your basket
Credit Strategy homepage

Dear visitor,
You are viewing 1 of your 1 free articles

We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

Chancellor claims support plan for self-employed “one of the most generous in the world”

Chancellor Rishi Sunak has announced a ramped-up support package for the self-employed which will see 80 percent of their profits covered by the government.

Share on LinkedInShare on TwittereCard

Announcing the package in the government’s latest daily briefing this evening, Sunak said the Covid-19 outbreak had “shaken our country and our economy like never before”.


He announced that any self-employed individual will be able to claim a grant worth up to 80 percent of their business profits, up to a maximum value of £2,500 a month, to help them cope while the country is in lockdown.


The grants will be available, during a three-month period, no later than the beginning of June and the support will be made available by HMRC. The tax authority will also proactively contact those eligible for the grants.


The scheme will be open only to those who are already self-employed and have a self-assessment tax return for 2019. It will apply to small businesses with trading profits up to a maximum of 50,000 a year.


The Treasury has calculated that 95 percent of those who operate largely as self-employed individuals will be eligible for the scheme.


Sunak said the support scheme marks one of the “largest economic interventions at any time in the history of the British state, and in fact in any country in the world.”


When quizzed about people across the UK being forced to come into work, and being emotionally blackmailed to do so, Sunak passed the question to deputy chief medical officer, Jenny Harries, who said employers should "stick to normal principles of workplace health".

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.


Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group