Covid catch up

There’s no doubt history will record 2020 as an exceptional year. While the future is still uncertain for many of us, there are always constants in life. Like taxes.

With the January tax deadline looming, now is a good time to review your financial documentation. The various government support schemes for this financial year may mean you need to retain additional information this time.

And as we hope 2021 brings a brighter future, now is also a good time to think about how our writing business might adapt in a post-Covid future.

Self-Employed Income Support

The Government’s Self-Employed Income Support Scheme paid out two tranches of grant money. The first grant was a payment for three months, offering 80% of your average self-employed monthly earnings, based upon your last three year’s average trading profit. The maximum payable was £7,500.

The second payment was calculated at 70% of your average self-employed monthly earnings