Coronavirus financial lifeline finally offered to self-employed

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.”

Cribb added, “We understand this is an immense and complex undertaking, and urge the government to get this vital support to freelancers as soon as practically possible.

“This is an unprecedented package and a very welcome response to our campaign for freelancers and the self-employed.

“While this assistance is practical and wide-ranging it does not, however, cover all self-employed people. We will keep working to fill in these gaps.

“With our mission to support and promote the work of independent professionals and the self-employed, we will keep striving to stop those in need from being left behind.”

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