Guide to advising the self-employed amid Covid-19
- Explain how the new scheme for self-employed individuals work
- Identify what advisers should think about if considering the CJRS
- Explain likely impact of crisis on how self-employed people pay NI in the future
Guide to advising the self-employed amid Covid-19
- Explain how the new scheme for self-employed individuals work
- Identify what advisers should think about if considering the CJRS
- Explain likely impact of crisis on how self-employed people pay NI in the future
Introduction
By Ima Jackson-Obot
Since 23 March 2020, the UK government has been offering financial support to British industry to assist businesses sideswiped by the coronavirus outbreak.
This has been followed by additional advice for those who are self-employed.
One of the support programmes rolled out by the government is the Coronavirus Job Retention Scheme (CJRS) which allows self-employed business owners the opportunity to take temporary leave, paid by the government, because of the coronavirus outbreak.
But there are pros and cons for those wishing to take up this scheme.
The crisis has also raised questions about the approach self-employed individuals might take in remunerating themselves in a post-coronavirus world and once again has reignited the debate about whether the national insurance (NI) process should be streamlined.
All these topics will be explored further in this guide, which is worth an indicative 60 minutes’ CPD.
