Self Employed – Statutory Self-Employment Pay Scheme

To all my fellow self-employed comrades out there, this is to confirm there may still be some hope for us yet. This information is correct as of the morning of 24th March and I will update accordingly.

It looks as though the Government has bowed to pressure from the Self-employed massive.

At the moment in the House of Commons, If passed, there may be an announcement as follows;

A scheme of ‘Statutory Self-Employment Pay’

It states that “…the scheme must make provision for payments to be made out of public funds..”

For

(a) self-employed, or

(b) freelancers

How much is it?

1. 80 per cent of your monthly net earnings, averaged over the last 3 years or

2. £2,917

Whichever is the lower

No payment is to exceed £2,917

I can see you all rushing to get your late tax returns in for last year…..!!

Let’s wait to see if it gets the Royal Assent and a public announcement.

However, since this is still at the amendment stage, this still needs to be agreed by the House of Lords.

Once both Houses agree with the amendments and wording, it is ready for royal assent.

Once a bill receives royal assent it is made an Act of Parliament (the proposals in the bill become law).

Will they try and rush it through? Not sure, that will depend on the pressure supplied by the people. So let’s keep that self-employed spirit up and hope the government help us finally during this epidemic.