Coronavirus latest: Help for self-employed workers announced by the chancellor

IT’S been announced tonight (March 26) that self-employed workers can apply for a grant worth 80 per cent of their average monthly profits, to help them cope with the financial impact of coronavirus.
The money – up to a maximum of £2,500 a month – back-dated to March will be paid in a single lump sum into a person’s bank account from HMRC, but the recipients will have to wait until the start of June at the earliest.
At least half their income needs to have come from self-employment as registered on the 2018-19 tax return filed in January – anyone who missed the filing deadline has four weeks from now to get it done and still qualify.
The scheme is open to those who earn under £50,000 a year – up to 3.8 million of the five million people registered as self-employed.
Unlike the employee scheme, the self-employed can continue to work as they receive support.
The grants will be taxable, and will need to be declared on tax returns by January 2022.
Wage subsidies of 80 per cent for salaried employees were announced by the chancellor last week.
The number of people in the UK who have died with Covid-19 – the disease caused by coronavirus – has jumped by more than 100 in a day for the first time. The total now stands at 578.