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Coronavirus Kent: FSB's Alison Parmar welcomes Rishi Sunak's package for the self-employed

The Federation of Small Businesses (FSB) has welcomed the package of support offered to the self-employed as a result of the coronavirus crisis.

Chancellor Rishi Sunak announced a range of measures which would see the self-employed receive 80% of their profits - capped at £2,500 in line with the employee-focused coronavirus job retention scheme.

Chancellor Rishi Sunak announced plans to support self-employed workers
Chancellor Rishi Sunak announced plans to support self-employed workers

Alison Parmar, development manager for the county's branch of the FSB, echoed comments by its national chairman, Mike Cherry.

She said: "This bold support package from the government will give much-needed help to vast numbers of self-employed workers, guaranteeing 80% of income to those affected, with earnings of up to £50,000.

“This is a time of national emergency, and it is very welcome that the government has listened to FSB and responded with a multi-billion-pound package to support the most financially vulnerable entrepreneurs, and to do so through the self-assessment system.

“This follows help in the Budget and since, that was aimed squarely at small businesses such as a cut in the jobs tax, cover for small employers that cannot pay their employees, business rates holidays, cash grants, mortgage holidays, rent protections, and interest-free, fee-free loans. We hope the raft of support will keep as many small businesses as possible afloat.

“The self-employed, however, remained a glaring gap. They needed more help, and especially those with least resources to prepare for this storm. We have heard despairing stories from hard-working hairdressers, bakers, childcare providers, freelancers, drivers and many others, seeing the businesses they’ve spent years building dry up in a matter of days. It is many of those strivers who this package will support.

The FSB's Alison Parmar has welcomed the package of measures
The FSB's Alison Parmar has welcomed the package of measures

“The self-employed community underpins the UK economy. They are the individual risk-takers who don’t expect the same benefits as employees. In this moment of a collective national effort to overcome a global pandemic, today’s package is a significant, multi-billion-pound improvement on what was proposed last Friday.

“Many tax-paying self-employed who will be helped by today’s measures will be relieved. Although the deal is not perfect, the government has moved a very long way.

“This is an incredibly challenging situation for everyone. While the healthcare response is paramount, overcoming the economic disruption also requires a speedy response in the interests of jobs and future growth.

"This announcement will give hope to many hard-working, self-employed entrepreneurs, and it is important that the scheme is ready on-time and delivered as soon as possible. As this will be run through self-assessment, it is vital that any late filers submit their 2018-2019 return, right now, or they risk missing out.”

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