Isle of Wight MP Bob Seely has welcomed the government’s package of support for the self-employed through the coronavirus outbreak.
The package – announced by the Chancellor last week – is designed to pay self-employed people across the UK who have been adversely affected by coronavirus with a taxable grant worth 80% of their average monthly profits over the last 3 years, up to £2,500 per month, for 3 months.
The Chancellor said these measures had been put in place to support the likes of musicians and sound engineers; plumbers and electricians; taxi drivers and driving instructors; hairdressers and childminders.
Details about the measures are available here – https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme.
“I know self-employed Islanders are deeply worried about the impact coronavirus is already having on their incomes.
“The package is designed to help people to get through this difficult time by keeping their incomes ticking over so that they can keep going until we start to come out of this turbulent time. I welcome the support package the government is offering.
“I am seeking feedback on the measures through the IW Chamber of Commerce, who I am in regular contact with.
“It is my hope that the majority of Island businesses will survive this challenging period.
“My message to Islanders is this – we will get through this. It will not be easy, and for some it will be about just trying to survive through this difficult time, but the multi-billion pound package of support that the government has put in place so far – and continues to put in place – is designed to ensure that we can get back on our feet quickly.”
The Chancellor said the Self-Employed Income Support Scheme should be up and running by the beginning of June. In the meantime, self-employed individuals are encouraged to access universal credit, business interruption loans, and self-assessment income tax payments due in July can be deferred to the end of January next year.
The government has also said that self-employed people affected can benefit from a three-month mortgage holiday and they can defer the next three months of VAT, alongside further measures to protect renters and to help people with their energy bills.