Rishi Sunak announces measures to support self-employed people, the 'Self-Employed Income Support Scheme'
Self-employed people (UK wide)
Announced on 26 March 2020 for 3 months initially, 'could be extended if necessary'
To support self-employed workers who were not eligible for the employees support set out in previous measures
This is Chancellor Rishi Sunak's announcement of a Self-Employed Income Support Scheme that will give a taxable grant worth 80% of a self-employed person's average monthly profits (averaged over 3 years), up to a maximum of £2,500 a month. Grants should be accessible from the beginning of June and backdated. The scheme is open to anyone with an income up to £50,000 and who makes the majority of their income from self employment. Those who have just set themselves up and do not have a tax return for 2019 are excluded. The government expects 95% of the self employed 'will benefit from this scheme'. Self-employed people can also apply for Universal Credit and business interruption loans and defer tax payments until January 2021.
Gov.uk news story