UK Government launch Coronavirus aid for Self Employed…with a sting in the tail
UK Government launch Coronavirus aid for Self Employed…with a sting in the tail
The long-awaited government helping hand comes with a possible sting in the tail as the Chancellor hinted of future changes to “equalise” taxation between employed and self-employed to make it “fairer” for everyone.
By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
In this Money Tips Podcast episode:
- Chancellor Rishi Sunak launches scheme to give relief to millions of self-employed
- Up to 80% of average taxable earnings over the last three years will be paid for three months, to a maximum of £2500 pm
- Aimed at 3.8 million of the 5 million people registered as self-employed, who earn under £50k – full details to follow on qualification rules
- Grant to be paid as a lump sum by 1 June, backdated to March
- Benefit rules changed to allow self-employed people to apply for universal credit
- The self-employed can apply for the business interruption loans through the banks
- £30 billion of tax payments due in July will be deferred until January 2021
- Should saving for emergencies be enforced via salary deduction!
- The only way out of the rat race…
- 10 things you can do to thrive during Covid 19 isolation
- Learn about investing in property before buying anything!
UK Government Business Support Helpline (England)
Telephone: 0300 456 3565 Monday to Friday, 9am to 6pm
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You can learn how to build a second income, acquire cash flow generating assets using leverage in order to quit the rat race and become financially free. This crisis has taught us that the only way to be truly financially free is to build your own source of passive and semi-passive income, rather than working on someone else’s passive income.
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If you’d like more information on how to quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community.
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