UPDATE 26/03/20:
Self-employed people will be able to apply for a grant worth 80% of their average monthly profits over the last three years, up to £2,500 a month to help them cope with the financial impact of coronavirus, the chancellor has announced.
Learn more on the gov.uk website HERE.
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Should you fall ill, the government will enable you to claim employment and support allowance (ESA) or Universal Credit if you need help with costs such as housing or children. The weekly payment for ESA is £73.10 or £57.90 for people under the age of 25. Universal Credit is paid at £317.82 per month or £251.77 for the under-25s.
The Government has also said it will make it quicker and easier for people to access these benefits.
Accessing your savings – Normally if you’ve locked cash away in a fixed-rate savings account, you have to pay a penalty to get it out before the fixed term’s up. Yet nine banks have said they’ll waive penalties for those affected by the pandemic.
Credit cards – Credit card rates are mostly unaffected by the UK rate change, as they’re so much higher than the base rate anyway. There is some forbearance here too – most banks and card firms told us they will allow emergency credit limit increases (but be careful), while some will offer repayment holidays and a few will waive fees for missed payments.
Renting – If you rent your home and are struggling to keep up with payments due to coronavirus-related difficulties, you should speak to your landlord as soon as possible to work out a plan. The Prime Minister said on Wednesday 18 March that the Government is to bring forward emergency legislation to protect private renters from being evicted.
Benefits – If you’re not claiming any benefits you might be entitled to claim employment and support allowance (ESA) or universal credit to top up your income.
Topping up energy – Energy firms are putting in place new measures to help prepayment customers unable to top up during the pandemic, including posting cards loaded with emergency credit to those who are self-isolating.
https://www.moneysavingexpert.com/news/2020/03/uk-coronavirus-help-and-your-rights/
https://www.telegraph.co.uk/money/consumer-affairs/self-employed-can-get-sick-pay-coronavirus/
