Many of the UK’s self-employed will be relieved to hear that the government has finally taken action by offering a financial lifeline for those affected by the Coronavirus.
Last week, Chancellor Rishi Sunak guaranteed self-employed people who work as sole traders and earn up to £50,000, 80% of their income – this will be based on their last tax return.
The Association of Independent Professionals and the Self-Employed (IPSE) has welcomed the government’s announcement calling it a ‘historic lifeline’.
Derek Cribb, CEO of IPSE, commented, “We welcome the fact that the government has heeded our calls and actively worked with IPSE in designing a historic lifeline of financial aid for the self-employed.
“This will offer essential support to the many hard-working self-employed people across the country who are losing projects and contracts because of the Coronavirus outbreak.”