27/03/2020

Coronavirus (COVID-19) – Businesses and Employers Bulletin - Self-employment Income Support Scheme Announcement

This bulletin provides information for employers and businesses on Coronavirus (COVID-19). All guidance, information and announcements can be found at GOV.UK. Organisations should pay particular attention to the guidance for employees, employers and businesses which is being updated regularly with the latest advice.Self-employment Income Support Scheme

The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19. The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits up to a cap of £2,500 per month.

HMRC will use the average profits from tax returns in 2016-17, 2017-18 and 2018-19 to calculate the size of the grant. The scheme will be open to those where the majority of their income comes from self-employment and who have profits of less than £50,000. The scheme will be open for an initial three months with people able to make their first claim by the beginning of June.

You can find more information on eligibility and how to access the scheme here.

Self-employment Income Support Scheme Frequently Asked Questions

 

Department for Business, Energy and Industrial Strategy 

Business Intelligence and Readiness Directorate

sed@beis.gov.uk

26 March 2020

 

Department for Business, Energy and Industrial Strategy 

Business Intelligence and Readiness Directorate

sed@beis.gov.uk

26 March 2020

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