What is it?
The Self-Employment Income Support Scheme is designed to provide support to the self-employed who have been negatively impacted by Coronavirus.
Under the current Coronavirus Business Support measures, the Government will pay a grant to self-employed individuals to cover 80 per cent of their average monthly profits for the past three years, paid out in a single instalment covering three months and capped at a maximum of £7,500 in total.
Payments will begin being made in May.Self-employed individuals will be able to continue work, start a new trade or take on other employment and still receive the grant.
The grant is subject to Income Tax and National Insurance.
Download the full guidance.
Our guidance around getting support for your business with paying employees’ wages is extensive.
We have summarised everything in this handy download guide, which covers…
- Who is eligible
- How to check your eligibility
- How do to apply
- Self-assessment payment on account deferral
- Time to Pay (TTP)
- VAT payments
- What next
Get in touch if you’re a self-employed and are struggling to meet your current liabilities.