27th March 2020
On Thursday 26th March, The Chancellor of the Exchequer announced a world-leading scheme to support the UK’s self-employed affected by the coronavirus outbreak.
Self-Employed Income Support Scheme
- The government will pay self-employed people, who have been adversely affected by the corona virus, a taxable grant worth 80% of their average income over the last three years, up to £2,500 per month, for at least three months.
- Self-employed people who are eligible can apply directly to HMRC for the grant, using a simple online form; HMRC will then pay the grant straight into your bank account.
- This scheme will be open to those with income of £50,000 or less, who make the majority of their income from self-employment.
- For self-employed people who are struggling now, the Government have also made sure that most will be able to access the business interruption loans.
- The Government have also changed the welfare system so that self-employed people can now access Universal Credit in full.
- A self-employed person with a non-working partner and two children, living in the social rented sector, can receive welfare support of around £1,800 per month.
- This scheme also applies to members of partnerships
More information about what the Chancellor announced can be found at:
We will continue to share the most up to date information directly with you as it becomes available.