Extension of the self-employment program: what support is available for the self-employed? | Personal Finances | Finance

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However, the Chancellor’s announcement also drew criticism from some who say the extension of the scheme does not sufficiently support the self-employed.Rachael Griffin, tax and financial planning expert at Quilter, said Express.co.uk: “It’s no surprise that independents have felt largely forgotten during the pandemic.

“It was only after considerable lobbying at the start of the crisis that the Chancellor acted and introduced a new regime for the independents, and even then he excluded many, thanks to the demand for average commercial profits. less than £ 50,000.

“But while the first grant was worth 80% of average business profits and the second 70%, the next phase of support announced today by the Chancellor will only be worth 20% of average business profits.

“Compared to salaried workers who will receive the lion’s share of their wages through the new employment support program, the self-employed may feel they have been left behind by the treasury.”



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