UNFAIRNESS IN EXTENTION OF SEISS SUPPORT FOR THE SELF-EMPLOYED

I'm livid.  When I should be grateful.  But why treat the self-employed less well than the employed?

There are a substantial number of people, such as in the music industry, who have had their livelihoods pulled from under their feet.  Zero income.  Mouths to feed.

The Chancellor has been supportive to the self-employed, at least for those who are eligible:
  • Deferral of VAT payments for all types of businesses, applicable only to businesses that are VAT-registered.  But VAT not actually cancelled.
  • Deferral of income tax payments for the technically 'self-employed', taxed under Schedule.D rather than under PAYE.  That is sole traders and partners in partnerships.  But income tax not actually cancelled.
  • The Business Bounceback Loan Scheme (BBLS), whereby the government acts as guarantor for a low interest loan from a bank, and also pays the first year's interest.  This is available to all types of business, whether limited companies or the technically 'self-employed'.  But a loan that the business will need to repay
  • The  only non-repayable grant is the Self-Employed  Income Support Scheme (SEISS) for sole traders and partners, which is taxable.  It is this that Rishi Sunak, the Chancellor, extended yesterday 29 May:
 Whist a second SEISS grant is very welcome, there are four problems:
  1. We need to bear in mind that SEISS is based on taxable profits, and then currently only 80%.  Insurance premiums, web sites and other committed business expenses are not covered.  Some commitments are typically monthly, otherwise in an annual lump that could be happening around now.
  2. The self-employed had to wait until the end of May fot the first payment, two months after the lockdown was first introduced.  The government set up the system remarkably quickly.  Now the payment mechanism is in place, why make people wait another three months?  People's personal expenses are on a monthly basis   Mortgages may be deferred in many cases, at least for now, but many rents are still payable monthly.  Not to mention the day-to-day expense of food, essentials and other commitments (plus the business commitments mentioned above)..  Why not make SEISS payments monthly?
  3. The CJRS support is not reducing from 80% to 70% until August.  Why effectively reduce SEISS from June, two months earlier?
  4. There is no grant available to the self-employed trading as a limited company.  They need to rely on Universal Credit for cash.  That is a separate problem.  Much more difficult to solve.  unless we talk about some form Unicersal Basic Income. Another time.
Talking specifically about the SEISS:

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