Unlike employees, self-employed income is not reported monthly. If HMRC were to permit those who have become self-employed within the last year to participate in the Scheme there would be no way to distinguish between genuinely self-employed people and those who may be fraudulently claiming.
I appreciate that this must be very frustrating. There is, however, further support available for those who are self-employed and do not qualify for the income support scheme.
Firstly, if you are registered as a director of your business or paid through PAYE you may be eligible for the Job Retention Scheme, which will pay 80 per cent of your monthly pay up to £2,500 per month.
The Government has taken steps to make Universal Credit more accessible to the self-employed, and more generous overall. Those applying for Universal Credit can also get an advance payment almost immediately once they claim.
Even where you do not expect to be eligible for Universal Credit, you may wish to apply as you might in fact find that you are eligible. The application process can be completed online and over the phone, and my office would be happy to help should you require any assistance.
In addition to Universal Credit, the Government has put extra resources into local authorities to ensure that they are able to reduce or eliminate the council tax bills for those most in need. You can find out more about this through the following link:
The self-employed are able to access the Coronavirus Business Interruption Loan Scheme, which is available throughout the UK and offers Government backed loans of up to £5 million on attractive terms, with the Government covering the first 12 months of interest payments and lender levied charges.
The Government made a number of announcements regarding the Scheme last week, including making it more accessible for small businesses and banning lenders from requesting personal guarantees on loans under £250,000. If you would like to find out more about the scheme, you can do so through the following link:
Those who are self-employed can also benefit from a three-month mortgage holiday and can defer VAT and self-assessment Income Tax payments, as well as access universal credit at a rate equivalent to statutory sick pay for employees. More information can be found about these additional measures, as well as contact details for the Business Support and HMRC helplines, through the following link:
The Government has announced measures to help people with the cost of living, including additional protection for those who rent and help with energy bills. For more on these measures, please use the following link:
Business Wales has set up a helpline to provide Welsh businesses with support and advice about dealing with coronavirus. The number to call is: 0300 060 3000.
The Government may announce further measures to support businesses over the coming days. I would encourage you to keep up to date with any such announcements either by watching the daily press conference, which takes place at around 17:00 every day and is televised on BBC News, or through the dedicated web pages produced by both the Government and the Welsh Assembly Government:
At the December 2019 General Election, David was re-elected as the Member of Parliament for Clwyd West, with an increased vote share of 50.7%.