Leavitt Walmsley Associates launch advice blog for self-employed during Covid-19 crisis
Award-winning accountancy firm Leavitt Walmsley Associates from Sale, Cheshire, has launched its own advice blog aimed at self-employed people, summarising the government's new provisions and highlighting action that individuals can take to safeguard their finances during the coronavirus pandemic.
Last week, chancellor Rishi Sunak announced a raft of new measures to support 95 per cent of the five million self-employed workers in the UK, on top of the financial package he had already set aside for PAYE workers.
In short, the provisions for the self-employed include a taxable grant of up to 80 per cent of average earnings for workers with up to £50,000 trading profit. This will be subject to a cap of £2,500 per month for three months and will be paid as a lump sum from June 1.
Yet, there is a range of other help measures in place for self-employed workers during the interim period, which LWA outline in the blog. These centre around mortgage support measures being offered by banks, a ban on evictions to ensure tenants in social or private accommodation are not forced from their homes - including extra protections for commercial tenants who cannot pay their rent - and an increase in the standard level of Universal Credit.
The blog also delves into detail on grants that are accessible for businesses that occupy property and qualify for Small Business Rate Relief or Rural Rate Relief, a scheme providing funding of £10,000 for businesses.