Self Employed Businesses Employees COVID-19 Capital Grant Scheme

Support For
SELF-EMPLOYED

Support for The Self-Employed across the UK

 

Additional Support For The self-employed During National Restrictions

Following the Prime Minister’s announcement of new national restrictions from Thursday November
5th , the government is increasing its support to the self-employed over the coming months and
ensuring people get paid faster than previously planned.

Self-Employment Income Support Scheme

To reflect the recent changes to the furlough scheme, the amount you can claim via the Self-
Employment Income Support Scheme will increase with self-employed individuals receiving 80% of
their average trading profits for November.

As self-employed income support grants are calculated over three months, the uplift for November
to 80 per cent, along with the 40 per cent level of trading profits for December and January,
increases the total level of the third grant to 55 per cent of trading profits. The maximum grant will
increase to £5,160.

To ensure those who need support get it as soon as possible, payments will also be made more
quickly with the claims window being brought forward from 14 December to 30 November.

Further Support

Self-employed people can continue to access other support which includes Bounce Back Loans, tax
deferrals, rental support, mortgage holidays, and other business support grants.

You will continue to be able to apply to banks for government-backed support loans until 31 January,
compared with a previous 30 November deadline for some of the programmes.

Who Can Apply?

To be eligible for the grant extension self-employed individuals, including members of partnerships, must:

  • Have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
  • Declare that they intend to continue to trade and either:
  • Are currently actively trading but are impacted by reduced demand due to coronavirus
  • Were previously trading but are temporarily unable to do so due to coronavirus