24

Mar

We are getting lots of queries from clients asking about how the self employed will be helped.

As yet we have no firm information to pass on to clients, except the fact that tax that would normally have to be paid in July 2020 can now be deferred.

The government is currently working on a package to support the self employed but it is taking some time because of the nature of self-employed income and how it varies year to year.

It seems that subsidising the self employed is proving more complex than providing support for those on PAYE. The Chancellor hopes to announce what measures it will take later on this week but the work is delayed because of the complexities of getting support to the self-employed, rather than just refunding cash via PAYE for employees.

Remember that all businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service.

These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.

Eligibility
You are eligible if your business:

pays tax to the UK government
has outstanding tax liabilities
How to access the scheme
If you have missed a tax payment or you might miss your next payment due to COVID-19, please call HMRC’s dedicated helpline: 0800 0159 559.

We shall pass on any information we receive as soon as we receive it.