Support for the self employed
The Self-Employment Income Support Scheme’s initial two grants are now closed.
However, the Government has announced an extension of a further two grants, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021.
The third grant will cover a 3 month period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. This is an increase from the previously announced amount of 55%.
The Government has already announced that there will be a fourth grant covering February 2021 to April 2021. The Government will set out further details, including the level, of the fourth grant in due course.
Further information and eligibility criteria is available on the GOV.UK website.