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Self Employment Income Support Scheme

Self-employed Income Support Scheme

If you are self-employed and qualify for the Self-employment Income Support Scheme you will receive a cash grant from HMRC based on 80% of profits, up to £2,500 per month. The initial grant will be for the three months, from 1 March through to the end of May 2020, but could be extended for a longer period.

Deferral of VAT payments update

Deferral of VAT payments update

It was announced at the end of March that VAT registered businesses have the option to defer any VAT payments due between 20 March 2020 and 30 June 2020.

HMRC’s guidance for the deferral of VAT payments has been updated and states that you can only defer the following: