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Showing posts from April, 2020

Covid-19: Claiming 80% from the Government

For most of us, we are experiencing the most surreal and financially crippling time of our lives. Businesses are facing extinction; individuals unable to work with their income stopping overnight. We never saw it coming or at least, not like this. It’s truly life changing. There is always a light at the end of the tunnel though. Our light, is the Government creating a huge support package to ease our way out and ensuring that the aftermath is not an economic crash. This support package initially focused on businesses operating as limited companies, but has now been updated to include sole traders or otherwise known as individuals working for themselves, of which there are more than 3m, making up 60% of all businesses in the UK. What’s the package? If you are employed and unable to work, you can receive 80% of your gross pay; if you are self employed, you can receive 80% of your trading profits (over the last three years to 5 April 2019). How can you get it? The systems are cu