An update on the Winter Economy Plan by Andrew James Crawford

The Chancellor recently outlined the government’s Winter Economy Plan which includes a new job support scheme and a self-employed grant extension.  These measures aim to help workers affected by coronavirus by allowing a third grant for the self-employed and includes a new job support scheme to contribute toward employees’ wages.  See here for the latest updates/revision to the Winter Economy Plan.

The grant extension is for self-employed individuals who are currently eligible for the Self-Employment Income Support Scheme and are actively continuing to trade, but are facing reduced demand due to coronavirus (COVID-19).

The Job Support Scheme is designed to protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19, to help keep their employees attached to the workforce. The company will continue to pay its employee for time worked, but the burden of hours not worked will be split between the employer and the Government (through wage support) and the employee (through a wage reduction), and the employee will keep their job.

Andrew James Crawford is a Business Development Consultant, Entrepreneur and Chartered Management Accountant & Tax Adviser based in Nottingham.  He has ‘decades of experience’ in setting up multiple successful businesses and has become a specialist Chartered Tax Management Accountant. Andrew’s blogs summarise the latest updates and he also offers 1-1 business support with a ‘Personal 20 minute online video call’ for just £10