The current coronavirus situation means that some self-employed individuals have seen a significant fall in income with many unable to work at all at the present time.
On 20 March, in his first major speech on support for businesses, the Chancellor said that every self-employed person can now access, in full, Universal Credit (UC) at a rate equivalent to Statutory Sick Pay (SSP) for employees.
Not surprisingly, this is a simplification of the rules. To help practitioners get to grips with the UC system, AccountingWEB asked me to put together an introductory overview.
What is UC?
UC is a means-tested benefit that was introduced in 2013 to replace six ‘legacy’ benefits:
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Victoria is a chartered tax adviser who is currently Head of the Low Incomes Tax Reform Group, an initiative of the CIOT to give a voice to the unrepresented. Victoria has worked for LITRG for nearly 15 years following a number of years in various welfare rights roles. She was appointed to the Social Security Advisory Committee in 2016.