FSB highlights gaps in coronavirus income support measures for self-employed

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Responding to concerns about those not included in the UK Government’s Self-Employed Income Support Scheme, National Chairman of the Federation of Small Businesses (FSB) Mike Cherry said: “While the Government’s Self-Employed Income Support Scheme will help 3.8 million people, and is therefore welcome, there remain groups who are completely out of scope and feel left behind.

“These include directors of smaller limited companies who pay themselves through dividends or dividends and salary, many of whom have worked extremely hard to build up their businesses and now find themselves in financial peril. It also includes those who have more recently become self-employed, and those whose profits are above the cap of £50,000 a year.

“While some of those left out of the income support initiative might at least be able to benefit from other schemes, such as job retention, grants, emergency loans or universal credit, it is increasingly clear that there are some for whom those measures won’t be enough.

“We are urgently feeding into the government as many examples of this as we can, to highlight the plight of those who are falling between the cracks and are facing bleak financial situations. It’s important that we represent the full picture of our whole community with those in power.

“FSB had pushed the government hard for its self-employed scheme to be as generous as possible, to help as many as possible, and to start as soon as possible. We hope that ministers understand the many real-life examples of those left behind that we’re highlighting. It is also vital that the many other schemes already announced are rolled out as quickly and effectively as possible, and we are very willing to help the government in any way we can with that at this time of national emergency.”