Originally written by Timothy Adler on Small Business
The Treasury is thinking about cutting its ceiling for self-employed coronavirus support to £30,000 before its scheme has even launched yet.
HMRC has begun writing to the self-employed, telling them if they are eligible for the Self-Employed Income Support Scheme and encouraging them to apply.
The self-employed coronavirus support scheme is set to open on May 13, having been brought forward from the June start previously talked about.
Under the current scheme, freelancers and the self-employed can apply for a one-off payment of up to £7,500 covering three months. This is based at looking at your tax returns for the past three years and then averaging your monthly income. Only freelancers and the self-employed who have been earning up to £50,000 a year can apply for the self-employed coronavirus income support scheme.
>See also: Self-employed Income Support Scheme what it means for you
However, according to the Times, the Treasury is already thinking about slashing that £50,000 ceiling to £30,000 going forward.
The Treasury has already said the SEISS will be extended.
Plummeting unemployment
However, HMRC officials are trying to figure out ways to wean workers off government support packages such as the SEISS and its furlough scheme without creating plummeting unemployment.
Chancellor

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