A significant number of our members work on a self-employed basis and full details regarding government support have only just emerged.
Many affected self-employed workers will receive direct cash grants, through a UK-wide scheme, to help them during the coronavirus outbreak. Self-employed individuals and members of partnerships in the UK could receive up to £2,500 per month in taxable grants for 3 months. The scheme will be open to those who traded in the 2019-20 tax year, are still trading now or would be except for COVID-19, and are planning to continue doing so in the tax year 2020-21. Also, their self-employed trading profits must be less than £50,000 and more than half of their income must come from self-employment.
For more information on claiming a grant through the coronavirus (COVID-19) Self-employment Income Support Scheme please visit the dedicated government support website here.