This briefing note is intended to support individual healthcare professionals in these unprecedented times. Daily, government agencies are issuing new updates and headlines, often without enough detail for what businesses are to do next.
We have summarised the key points applicable to our clients as they currently stand. These briefing notes have been prepared for those individuals healthcare professionals who trade:
1. In a self-employed capacity
2. via a personal service limited company (PSC)
If you trade through a Limited Company, you are not classed as self-employed.
Two main business support measures were announced for the respective structures named above:
1. Job retention scheme covering 80% of salaries (PSC)
2. Support the self-employed covering 80% of profits
We expect that both taxable grants will not be used by many of our clients, as most healthcare individuals are continuing to provide essential public services and continue to receive income. One of the main criteria for the grant is that you are unable to do any work for the company so we expect that Directors will not qualify for the grant. For those that wish to furlough their employees (on the basis that they are not doing any work for the company) will simply need you to email the names of your furloughed employees to your customer relationship advisor, confirming the names and the date they were furloughed – we will do the rest.
For more information about Covid financial support, download the pdf below