The Association of Independent Professionals and the Self-Employed (IPSE) has said many are still struggling, despite the Budget offering a “hopeful vision”.
In the Spring Budget 2021, Chancellor Rishi Sunak announced the extension of the self-employment income support scheme (SEISS) until the end of October.
The fourth SEISS grant, which was announced by Sunak, will cover the period between February 2021 and April 2021.
The grant will now take into account tax returns for the tax year of 2019/20 for the first time, and pay 80% of the three months’ average trading profits up to £7,500.
Derek Cribb, chief executive of IPSE, said after the “severe and disproportionate” financial impact of the coronavirus pandemic on self-employed individuals, the Budget is welcomed.
He said:
“After almost a year, this support will be a tremendous relief to hundreds of thousands of self-employed people who could not access SEISS because they had not yet filed a full tax return. We are delighted that the Government has heeded our calls to get support to this struggling group.
“While this support is welcome, however, we also urge the Chancellor to look again at groups such as limited company directors, who are still excluded from SEISS."
Speak to us about your SEISS grants.
Many freelancers still struggling, warns IPSE
Let's talk. We're here to help get you started.
Our team of accountants in Hertfordshire is ready to provide the personalised support your business needs to thrive.
Your questions answered
How can Barley Grove help my start-up grow?
We provide tailored accounting and financial advice for start-ups, including cashflow management, financial forecasting, and strategic growth advice to help you succeed from the start.
Do you offer consultations outside of regular business hours?
Yes, we offer flexible consultations, including outside of regular business hours, to accommodate your busy schedule and ensure you get the support you need.
How do I switch accountants to Barley Grove?
Switching to Barley Grove is simple. We’ll manage the process, liaise with your previous accountant, and handle the paperwork to ensure a smooth transition.
Will switching accountants affect my current accounts?
No, switching accountants won’t disrupt your business. We’ll ensure a seamless handover of financial records and take care of the details for you.
Sign-up for our newsletter
By submitting your details you agree to receive email marketing from Barley Grove and have read and understood our Privacy Notice. You can withdraw your consent or change your preferences at any time by emailing us or by clicking the link at the bottom of every email we send you.