Statutory self-employment pay
Raphael Coman
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Raphael Coman
Tax accountant, Tax Returns, VAT, payroll, small company, contractor, IHT and CGT tax advice, property, finance, medical, construction and service sectors
The government is under pressure form self-employed workers to match the form of grants available to employees. Parliament is considering self-employment pay. Currently it is a Bill. It is not yet regulation.
The proposal is broadly:
Self-employed individuals out of income as a result of lockdown will be able to reclaim statutory pay. The pay is the lower of :
80% of monthly profits and;
￡2,917
For this purpose, profits are averaged over the most recently past three years.