Job Retention Scheme and Help for Self-Employed

Your employer might be able to keep you on the payroll if they are unable to operate or have no work for you to do because of coronavirus. It is known as ‘on furlough’. Your employer could pay 80% of your regular wages through the Coronavirus Job Retention Scheme, up to a monthly cap of £2,500.

You will still be paid by your employer and pay taxes from your income. You cannot undertake work for your employer while on furlough. We expect the scheme to be up and running by the end of April.

There are eligibility rules, for more information click the link to the right of this page.

IMPORTANT UPDATE ON HELP FROM THE UK GOVERNMENT FOR THE SELF EMPLOYED

SELF EMPLOYED HELP FOR ELDERPARK TENANTS  – TWO MORE GRANTS ON THE WAY

 In late September, the UK Government announced an extension to the Self-Employed Income Support Scheme. It will now comprise of four grants rather than two.

 There will undoubtedly be Elderpark Housing tenants who run their own business are therefore self employed and who are eligible for this State help.

 This means coronavirus support for qualifying self employed people continues until the end of April 2021. If you’re eligible for the help, you need to act quickly as there’s two weeks left to claim the second grant.

The deadline to apply for the second Self-Employment Income Support Scheme grant is Monday 19 October.

The four grants are more or less identical – the only differences are when they’re available and how much you can get. The Government has confirmed that the eligibility criteria remains the same. For ALL the grants, you need to have been adversely affected by coronavirus during the period the grant is running for. Importantly, your  average trading profit must be less than £50,000 a year.

• Grant 1: THIS IS NO LONGER AVAILABLE.
• Grant 2:
  – When is it available? This is currently open, but the deadline to apply is Monday 19 October.
• – How much can you get? It is worth up to £6,570 in total. It is made up of a single payment made up of 70% of three months’ worth of average monthly trading profits over three months capped at £2,190 a month. You need to have been adversely affected by coronavirus on or after 14 July 2020 to claim it.
• Grant 3:
  – When is it available? It’s not open yet, but will cover the period from 1 November 2020 until 31 January 2021.
  – How much can you get? A lump sum covering 20% of three months’ worth of average monthly profits up to a total of £1,875. You will be asked to declare that your business has been impacted between 1 November 2020 and the date of your claim.
• Grant 4:
  – When is it available? It’s not open yet, but will cover the period from 1 February until 30 April 2021.
  – How much can you get? The Government has not confirmed the amount or any other details.

There are more details here by using this link to moneysavingexpert.com

https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/