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Business Update (26/03/2020)

Help for Self Employed People. 
Announced by the government today. 
80% of average income (monthly income over last 3 years). Maximum £2,500 per month. 
HMRC wil contact everyone eligible for grant. 
– Any business with trading profits up to £50,000. 
– Must have majority of income from self employment. 
– Must already be in self employment with tax return completed for 2019.  
Paid will be made from June 2020. To complete online application from this date. Payment will be backdated to 01/03/2020 and made as one lump sum for 3 months.
ABACUS will assist all our clients to access this grant and will action as soon as possible. 
Thank you and stay safe. 
ABACUS Chartered Accountants & Chartered Tax Advisers.