The Government has announced support for self-employment people, particularly relevant to licensed taxi and private hire drivers and vehicle proprietors.
Self-employment Income Support Scheme
GOV.UK has further details about who is eligible for the scheme and how it will work.
You can apply if you’re a self-employed individual or a member of a partnership and you:
- have submitted your Income Tax Self Assessment tax return for the tax year 2018-19
- traded in the tax year 2019-20
- are trading when you apply, or would be except for COVID-19
- intend to continue to trade in the tax year 2020-21
- have lost trading/partnership trading profits due to COVID-19
How to apply
The HMRC said that self-employed people do not need to get in touch with them as the scheme isn’t yet open for applications. HMRC will contact eligible customers by the beginning of June, inviting them to apply.
Payments are however not being made until June this year. In the interim, the government has also introduced the following help for the self-employed:
- Deferral of Self-Assessment Income Tax payments due in July 2020 and VAT payments due from 20 March 2020 until 30 June 2020
- Grants for businesses that pay little or no business rates
- Increased amounts of Universal Credit
- Business Interruption Loan Scheme
- Directors of their own company paid through PAYE, may be able to get support using the Job Retention Scheme.
Regulatory defence barrister specialising in taxi and private hire licensing law, appeals and defence.
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