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Breaking News - Chancellors Statement - 2

Breaking News



I said the Devil would be in the detail - here is some more detail.


On the Jobs' Support Scheme the initial 1/3rd is a minimum. So someone working 1/3rd of their normal hours gets 77% of their pay.


But if someone is working half their hours then they get full pay for the half, then 2/3rds of the other half = so that is 83% (or 5/6ths).


The Government's contribution to the top up element is based on the usual salary and capped at £697.92.


For the self employed who have been qualifying for the SEISS grant there are two further grants announced.

The first is for those currently eligible for SEISS and are continuing to actively trade but facing reduced demand due to coronavirus. The initial lump sum will cover three months’ worth of profits for the period from November to the end of January next year. This is worth 20% of average monthly profits, up to a total of £1,875.

An additional second grant will be available for self-employed individuals to cover the period from February 2021 to the end of April, details to follow, and will vary according to circumstances nearer the time.


Adrian


adrian.mole@quove.co.uk

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