After the announcement of a package of measures last week to help businesses and employers through the coronavirus crisis, he has now turned his attention to helping the self-employed. This was, as expected, a much more difficult package to put together and although it has some similarities to the coronavirus job retention scheme published last week, there are a number of differences. HMRC has published a press release and also preliminary guidance.
The headlines are
We will provide a more detailed briefing this after further reflection. The Chancellor also said that the Government intends to start a discussion on the different tax treatment of the employed and the self-employed, something we have highlighted in the past.
I have just been talking with someone whose average income for the past 3 years is just more than £50,000. Does that mean that there is no support available to him? Could some form of tapering be introduced? There is no such cliff edge under the Job Retention Scheme. I would be grateful for any comments/observations.