NEW Provisions being put before Parliament for Self Employed during Coronavirus

The following is being put before Parliament – if put into law this is expected to be the provisions for self-employed people/freelancers

(1) The Secretary of State must, by regulations, introduce a scheme of Statutory Self-Employment Pay.  (2) The scheme must make provision for payments to be made out of public funds to individuals who are(a) self-employed, or(b) freelancers.(3) The payments to be made in subsection (2) are to be set so that the net monthly  earnings of an individual specified in subsection (2) do not fall below—(i)  80 per cent of their monthly net earnings, averaged over the last three years, or(ii) £2,917whichever is lower.  (4) No payment to be made under subsection (2) shall exceed £2,917 per month.

(5) A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.

Here is the link for the bill – https://publications.parliament.uk/pa/bills/cbill/58-01/0122/amend/coronavirus_daily_cwh_0320rev.14-18.html?fbclid=IwAR2uiEDKJlZJ_ZQY9eBvRwoGyQOI7QBJ3BKd0IznPtpfo9DBQOr_kbl8mT8

About the Author

Annette Ferguson 

Owner of Annette & Co. - Chartered Accountants & Certified Profit First Professionals. Helping online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.

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