Self-employment income support scheme update
Those who meet the profit criteria set out in the original scheme, who’s business continues to be adversely affected by the Coronavirus crisis, will in August be invited to claim for a second and final grant.
This grant will be slightly lower than the first one, calculated at 70% of average profits (as previously determined) across a 3 month period, capped at £6,570.
The first scheme has also been given a closing date of 13 July for claimants to submit a claim. Eligibility for the second grant is not dependent upon the first grant being paid. Therefore anyone whose business had not yet been adversely affected by 13 July, but were to be after 13 July, could apply for the second grant.
What is not yet clear is if businesses that were severely affected by the initial lock-down, but have since been able to recommence trading, would qualify for the second grant. Further detail will follow, but the matter will probably be open to the interpretation of the claimant.
If you’re self-employed and unsure as to what support you’re eligible for, please do get in touch with us by calling 01243 782 423 or you can head to our contact form and our team will be happy to help!