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Members, Friends, Musicians, Techies and Festival Supporters

The VIRUS has and will continue to damage our industry for some time.  However, after several weeks of lobbying, consultations and meetings the chancellor has recognised the value that you return to the social and economic life of the UK.

This is the Government's press release announcing support for the self-employed.

More details will be released soon but the key points of the scheme are:

• The self-employed will receive a direct cash grant of 80% of their average profits, up to £2,500 per month
• The scheme is open to anyone with average profits of £50,000 or less.
• The scheme will operate for three months initially but could be extended
• The system will take time to establish and grants won’t be available until June – at which time those eligible will receive a payment for the whole three month period. So in effect, this will be a one-off grant to the self-employed
• HMRC will use the average trading profits from tax returns in 2016-17, 2017-18 and 2018-19 to determine the size of the grant. For those without 3 years of returns, the Treasury will look at what they do have but there will be nothing for the newly self-employed without any filed accounts.

https://www.gov.uk/government/news/chancellor-gives-support-to-millions-of-self-employed-individuals

With many thanx to friends and colleagues who have been in on the fight; amongst many NOEA, EIF, AIF, PSA and in particular Tom Kiehl and Greg Parmley at UK LIVE MUSIC.

Steve Heap: 26th Mar 2020 18:21:00

 

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