Self-Employed Get Second Grant from Government
Chancellor Rishi Sunak has said self-employed workers across the UK will be able to access a second Grant from the government to cover lost income while the country is in lockdown.
The grants paid out by the Self-Employment Income Support Scheme (SEISS) will be worth 70% of a self-employed person’s average monthly trading profits to cover three months’ worth of income.
They will be capped at £6,570.
The scheme so far has been used by 2.6 million people and has paid out £6.8bn in claims to self-employed who have been affected by the impact of coronavirus on the economy.
This is the second and final time grants will be offered, the chancellor said.
The Government offered the first grant to the self-employed in March, paying 80% of average monthly trading profits, capped at £7,500.
Applications will need to be made sometime in August and once again, self employed people will have to make the claim themselves. We will keep our clients updated with dates and procedures to follow as the government releases them.