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Self employed workers who miss out on government support.
Government spending definition economics quizlet. Almost 3 million people are estimated to have fallen through the cracks of furlough and self employed income support schemes. Extension of the coronavirus job retention scheme further the furlough scheme until the end of march. The furlough and self employment schemes have been a lifeline for millions of people and businesses.
The furlough scheme protected over nine million jobs across the uk and self employed people have received over 13 billion in support. The scheme updates mean that the following will apply for the period people are furloughed. Chancellor rishi sunaks original furlough scheme paid 80 per cent of wages up to a maximum of 2500 a month but was gradually wound down over the summer and was due to end today.
Between march and july the government paid for 80 of furloughed workers wages up to 2500 a month and it also covered employers national insurance ni and. The coronavirus job retention scheme cjrs better known as the furlough scheme will be extended until the end of march 2021. If you are self employed therefore taxed through self assessment and not paye you wont be eligible for furlough or the job support scheme but you may be eligible for the self employment income support scheme grants or be able to claim benefits.
The treasury said 137bn of support for self employed people had been provided since the onset of the pandemic in march on top of more than 40bn for employees through the furlough scheme. For further details on how the cjrs operates see some guidance job retention scheme. Increase the third self employed grant covering november to january from 55 to 80 of trading profits.
Today 5 november chancellor rishi sunak announced that furloughed employees will receive up to 80 of their average earnings worth up to 2500 a month until the end of march 2021. For more info see martins video below on zero hours workers. The government has just announced further extensions to the coronavirus job retention scheme cjrs also known as the furlough scheme and self employment income support scheme seiss.
This is in addition to billions of pounds in tax deferrals.
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