Question to the HM Treasury:
To ask Her Majesty's Government what assessment they have made of the current financial situation of self-employed people whose income in 2018/19 was over £50,000; and what plans they have, if any, to offer financial support to those people during the COVID-19 pandemic.
The Government recognises that taxpayers have faced immense challenges during the COVID-19 pandemic.
The design of the SEISS, including the £50,000 threshold for average trading profits, means it is targeted at those who most need it and who are most reliant on their self-employment income.
However, those with average trading profits above £50,000 may still be eligible for other elements of the substantial financial support provided by the Government. The SEISS continues to be just one element of a package of support for the self-employed which includes Bounce Back loans, tax deferrals, rental support, mortgage holidays, self-isolation support payments and other business support grants.