Page 6 - Essentially Catering Issue 100
P. 6

Essentially Catering Magazine - April 2020


        Income Support and New Jobs






        COVID-19: Self-employed Income Support Scheme


        Following is a summary of what financial support has
        been introduced for the self-employed and when you can
        apply for it.
          The Self-employed Income Support Scheme is open to
        those who are self-employed, or partners in partnership,
        and who:
        ● Have trading profits under £50,000
        ●  Have over 50% of their taxable income from self-
         employment
        ●  Have lost trading profits due to COVID-19
        ●  Submitted a 2018/19 income tax return. Those who have
         not yet submitted a 2018/19 tax return must do so by 23
         April 2020 as HMRC will use self-employment data from
         that year’s returns to assess eligibility
        ● Traded in the 2019/20 tax year
        ●  Are trading at the time of application or would still be
         trading but for the effects of the pandemic
        ●  Intend to continue trading next tax year (2020/21).
        The first two conditions must be met in either the 2018/19   Click here for more in-depth information
        tax year or as an average over the past three tax years. This
        excludes those who have started trading in 2019/20 from   concerning grants, schemes and loans.
        the scheme, which has been done intentionally as a measure
        to minimise fraudulent claims.                        How can the self-employed make claims?
        How much will the support be?                         HMRC will contact those who are eligible for the scheme
                                                              and invite them to make a claim. The scheme is not yet open
        The taxable grant will be up to 80% of average monthly   but HMRC expects the first payments to be made by the
        profits, capped at £2500 per month. It will be paid as one   beginning of June at the latest.
        lump sum for the three months covered by the scheme.
          The average will be taken over three tax years - 2016/17,   It may also be worth applying for Universal Credit.
        2017/18 and 2018/19 - where applicable.               You won’t know unless you try.


         Information courtesy of Michelle Matthews FCCA, MHM Accounting Solutions



                                                           New jobs hub for

                                                           short-term roles

                                                           With 500,000 hospitality workers expected to lose their
                                                           jobs due to COVID-19, leading trade body UKHospitality,
                                                           jobs board Caterer.com and charity Hospitality Action
                                                           have created a new jobs hub featuring 26,000 short-term
                                                           roles in other sectors to help people find work.
                                                              The Hospitality Redeployment Hub, which launched
                                                           on 31 March on Caterer.com, enables displaced hospitality
                                                           workers to find work in a broad range of sectors currently in
                                                           desperate need of short-term staff. Companies include Lidl,
                                                           Superdrug, Amazon, Hermes and Co-op.




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