ABERDEEN TAXI CENTE LTD
Covid-19 and the Self Employed
In this time of uncertainty we thought it would be useful to set out what help may be available to our self-employed friends and colleagues.
Self-Employment Income Support Scheme
This Government scheme provides a grant payment for the self-employed. The Government will contact eligible persons direct and invite applications in due course with payments expected by June 2020.
Universal Credit
Universal Credit can help with living costs if you’re on low income. If you apply for Universal Credit be careful to preserve your self-employed status otherwise you may not be eligible for Self-Employment Income Support Scheme grant.
https://www.gov.uk/how-to-claim-universal-credit
Tax Payment July 2020
The Government has deferred Self Employed tax payments due in July 2020 until January 2021.
Other Things to Consider
If you are paying finance on your business vehicle, paying a mortgage, paying other loans/credit cards consider contacting the lender and seek a payment holiday. (potentially, three months which will be added on at the end of agreement).
Before agreeing any of these check with the lender that any arrangement will not impact your future credit rating.
Stay safe.
*The above links are regularly updated and if you need more information please refer to them.
Replies
Thanks for this Graeme. Really useful. Some lenders aren't doing much but I guess they are still trying to figure all this out as well. Trust you're keeping safe too. 😊
No problem Ola, It is just taking time for the lenders to work out how to get the money to people at a speed that it is needed.
All safe here thanks.
Remember everybody try and take a look at what you can do to help protect your business to try and make sure that we are here as business owners when the Virus is over.
No problem Jessie. Simple links to HMRC but hopefully useful.
Thanks for sharing!