Don't know if anyone's really noticed, or is particularly interested in the grand scheme of things, but it seems that July's self-assessment tax payment due on July 31 has been postponed.
This would very probably be an estimate of the tax liability based on your income from the previous period, so in view of what's happening you could end up with a very small or zero tax bill for the current period, so the payments will all be up in the air for then next couple of years at least.
But here's the summary of the 'help' for self-employed people from the ITV News website.
Don't know anything about Universal Credit and how that would all work out, though
Working tax credits and housing benefit are being made more generous as well, apparently, but I don't know much about them either
What is Rishi Sunak doing to help workers caught up in the coronavirus shutdown?https://www.itv.com/news/2020-03-20/cha ... -pandemic/Mr Sunak didn't announce any specific plan to compensate freelancers and the self-employed.He advised the self-employed affected by coronavirus to apply for the Universal Credit scheme, which has altered requirements and conditions.
The self-employed will not have to make any further payments on their self-assessment tax return until 2021.
Mr Sunak said the minimum income floor for Universal Credit is to be suspended, meaning all those who are self-employed can access Universal Credit at the rate equivalent to statutory sick pay for employees - currently £94.25 a week.
Login
Register
FAQ
