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Further financial support for the self employed

In support of the self-employed impacted by the coronavirus pandemic, the Government have announced an extension to the Self-Employment Income Support Scheme, which will see further grants being available for the periods November 2020 to January 2021 and February 2021 to April 2021.

To be eligible to claim, you must declare that you intend to continue to trade and are currently impacted by reduced demand, or were previously trading and unable to do so due to coronavirus.

Grants will be paid in two lump sum instalments each covering a three-month period.

The first grant will cover the period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant covering 55% of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £5,160 in total.

A second grant will cover the three-month period from 1 February 2021 until 30 April 2021, although details of at what level this will be are yet to be confirmed.

Grants can be claimed online from the 30 November 2020.

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