| answer text |
<p>The Government has announced unprecedented support for business and workers to
protect them against the current economic emergency.</p><p> </p><p>The Self-Employment
Income Support Scheme (SEISS) will provide grants to those who are self-employed,
or members of partnerships, worth 80% of their trading profits/partnership trading
profits, up to a maximum of £2,500 per month. The value of the grant is based on a
3-year average of trading/partnership trading profits, from the tax years 2016-17
to 2018-19. SEISS is available to those who generate majority of their income from
self-employment and who earn less than £50k.</p><p> </p><p>Self-employed individuals
may also benefit from other support available, including:</p><ul><li>A 12-month business
rates holiday for all eligible retail, leisure and hospitality businesses in England</li><li>Small
business grant funding of £10,000 for all business in receipt of small business rate
relief or rural rate relief</li><li>The Coronavirus Business Interruption Loan Scheme
(CBILS)</li><li>VAT deferral for up to 12 months</li><li>The Time To Pay scheme, through
which individuals in financial distress, and with outstanding tax liabilities, can
receive support with their tax affairs</li><li>Protection for commercial leaseholders
against automatic forfeiture for non-payment until 30 June 2020</li><li>A 3-month
mortgage holiday for homeowners</li></ul><p> </p><p>The Business Support website provides
further information about how businesses can access the support that has been made
available, who is eligible, when the schemes open and how to apply: <a href="https://www.businesssupport.gov.uk/coronavirus-business-support"
target="_blank">https://www.businesssupport.gov.uk/coronavirus-business-support</a>.</p><p>Details
of the range of support for individuals affected by COVID-19 is available at: <a href="https://www.gov.uk/government/publications/support-for-those-affected-by-covid-19/support-for-those-affected-by-covid-19"
target="_blank">https://www.gov.uk/government/publications/support-for-those-affected-by-covid-19/support-for-those-affected-by-covid-19</a>.</p>
|
|
