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Contractors engaged by Government departments, their Executive Agencies and Non Departmental Public Bodies, which includes the NHS, will receive financial support should they not be able to work due to COVID-19.
Following the Chancellor's announcement of financial support for the self-employed, the Treasury issued a statement clarifying some of the detail. It included the information that freelancers and contractors who pay salary and dividends will not be covered by the announcement, but would be able to apply for the Job Retention Scheme.
A snapshot survey by recruitment agency body, APSCo shows that contractors are being told that their assignments have been terminated, and there is a complete stall on permanent hiring with job offers being rescinded.
Fears the Government will scrap Entrepreneurs’ Relief in the Budget on March 11 is resulting in many senior doctors and other professionals deciding to close their small companies earlier than planned and to effectively retire.