GOV.uk has a section on their web site dedicated to the Coronavirus at https://www.gov.uk/coronavirus
This is comprehensive guidance covering a variety of areas. Specifically look at the sections for Employers and Businesses.
You can sign up to email alerts as and when the advice on GOV.uk gets updated.
Unfortunately we are seeing a large number of scams pop up devised by people to take advantage of this situation. So can I please urge you to only refer to GOV.uk for support and advice and NEVER give any details to anyone. If an offer e.g. a tax refund for Coronavirus looks too good to be true it will be. Don’t be scammed.
The Self Employed
As you’ll know there is still little in the way for the self employed to get support yet. Be patient as the Chancellor is working very hard on this recognising it is complicated.
Self employment comes in a huge variety of shapes and sizes; it is not an area where a “one size fits all” solution can be applied. In the Chancellor’s own words from yesterday:
“Of course there are people whose incomes have been enormously impacted by what is going on currently, but there are also millions of people who are self-employed whose incomes may not have been impacted and, indeed, might be increasing.”
The article on the BBC web site went on to say:
“The challenge the chancellor told MPs was in designing something that gets to the people who we want to help, while at the same time being affordable and not having to benefit absolutely everybody. That is proving to be problematic, but we are hard at work on it. Mr Sunak went on to say that a self-employment scheme would require another “brand-new system” to deliver, and suggested that the priority would be “the scheme that we have set up for 90% of the workforce who are employed should be delivered first and quickly, and that is what we have committed to do, ideally by the end of April”.
Please do read the whole article.
Up to date Record Keeping and Accounts
Whilst we do not yet know what financial support will be available I suspect that there will be some application process that may require support of your financial records, accounts and perhaps tax returns.
Never before has there been a more urgent time to get on top of your accounting if you want to take immediate advantage of any financial support that may become available.
Contact us if you need help to get your records up to date.
Can’t re-invent the past
That said we cannot re-invent the past. If you’ve not been on top of your accounting, paid yourself a salary or recorded dividends correctly through your accounting systems then there is little that can be done to change the past. Financial transactions are a matter of fact usually supported through the business bank account. We can’t change that and, whilst we empathise with the financial predicament that many self employed are finding themselves in, we cannot change financial transactions to support a claim for better financial support than otherwise might be available.
Please do not ask us to do this.
Financial Support Applications
Once the Chancellor has made an announcement about financial support measures for the self employed we will swing into action. We will assess the measures and how applications need to be made after which we will advise clients what needs to be done.
Be patient and allow us time to do this. Holding off emailing or contacting us until we contact you would be super helpful in this regard.
As they say – don’t contact us, we’ll contact you 🙂
We truly do recognise this is an anxious time for you all. We too are in the same boat, as we too run our own businesses. We will try to help where we can. However we can only advise on what has been announced, usually updated on our blog.
Whilst it is really difficult to avoid, debates on the whys, wherefores, fairness, unfairness or the general what ifs are very time consuming and something that we need to try to avoid so that our time can be best spent working in a practical way towards getting ready to apply for any support as and when it comes available. We will try to help where we can to the best of our ability. However we may not have all of the answers, as all of the answers aren’t available to be had at this very difficult time. We all need to work together doing our bit and helping ourselves as much as we can.
Volunteering in the NHS
If you are able to do so then the NHS is seeking volunteers to help.
A variety of roles exist mainly around transportation and Check-in and Chat.
Please check out the needs at https://www.goodsamapp.org/NHS
Stay safe, sane and well
It goes without saying that we all need to get through this staying safe, sane and well. The very best wishes during this difficult time.