The Coronavirus Bill, currently going through parliament is set to pay self employed 80% of their net monthly earnings (average over the last three years) or £2,917, whichever is lower. Workers who have only recently become self-employed would have to prove a record of regular income to claim the cash – through receipts and banking history.
Here is what the Bill says:
- The Secretary of State must, by regulations, introduce a scheme of Statutory Self-Employment Pay.
- The scheme must make provision for payments to be made out of public funds to individuals who are
- self-employer, or
- 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
- 80 per cent of their monthly net earnings, averaged over the last three years, or
- £2,917, whichever is lower.
No payment to be made under subsection (2) shall exceed £2,917 per month.
A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.
As and when more information is available, we will update, this page.
Here is a link to the bill: https://publications.parliament.uk/pa/bills/cbill/58-01/0122/amend/coronavirus_daily_cwh_0320rev.14-18.html?fbclid=IwAR0WzxVlUNrYAV6P7rV7OPD3x8IGjMo4II9ki_i0nNor6Wakqtk-eklHaCQ
This page was last updated on 24 March 2020 – please see our follow up post – http://nicholsonandco.co.uk/self-employment-update/