The Self-Employment Income Support Scheme allows self-employed individuals or members of a partnership who have been adversely affected by coronavirus to claim a grant from the government.
How does the scheme work?
The scheme allows taxable grants to be claimed from the Government in stages. Whilst applications for the first and second grants closed on 13th July 2020 and 19th October 2020 respectively, the scheme has been extended for a further six months from November 2020 until April 2021.
Grants for the extension will be paid in lump instalments each covering a three-month period. The third grant covers the period from November 2020 until the end of January 2021 and 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. The fourth grant will cover the period February 2021 to April 2021.
How can I claim?
The online service for the next grant will be available from 30th November 2020, with instruction on claiming due to follow shortly.