6 May 2020
This update explains what is happening with the government’s self-employment income support scheme and provides a link to the latest guidance.
The scheme will allow the self-employed (or members of a business partnership) to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500, equivalent to three months’ profits.
The government has now published updated guidance about the scheme.
Scheme is ahead of schedule
The government’s self-employment income support scheme is ahead of schedule and it is now expected that payments will be made from 25 May 2020 (this was originally scheduled for June).
The government will now start contacting those who may be eligible based on their 2018 to 2019 tax return. You can also check online to find out if you may be eligible.
Remember that cybercriminals are taking advantage of the coronavirus outbreak to defraud people and businesses. Find out how to avoid scammers and fraudsters.
If you don’t qualify for the scheme
If you do not qualify for a self-employment grant under this scheme you may still be able to get other forms of help. Use the government’s support finder to find out more.
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