More reprieve for contractors impacted by Covid-19?

More reprieve for contractors impacted by Covid-19
Posting date:24 Mar 2020

As the pandemic continues to escalate, the UK government has come under increasing pressure with calls to support the many thousands of self-employed people impacted by the Coronavirus outbreak.

A financial lifeline

It now, finally appears that there may be financial relief on the cards.The House of Commons Public Bill Committee published a proposed amendment to the Coronavirus Bill which, if approved, would introduce Statutory Self-Employment Pay.

The amendment, if implemented, would give contractors and freelancers a guaranteed income of 80% of their monthly net earnings, averaged over the last three years; or £2,917 per month, whichever is lower.

This is by no means a great outcome for many contractors or freelancers, but it is a big step forward and will bring a degree of relief to many.  We see this as a very positive development to give the same sort of consideration to this community as is being given to permanent employees.  

How are we helping our contractors now? 

Over the next few days and weeks, we will be taking the time to speak with all of our contractors and helping as much as we can to assist them in re-deployment into new assignments.

Please do get in touch for guidance in these turbulent times. We are here to support you. Stay safe and stay healthy.