Starting today, Wednesday 13th May, applications are open for the UK Government’s Self-Employment Income Support Scheme. Use the online checker to see if you’re eligible and have the money in your account by 25th May.
The GOV.UK website states:
The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether. This is a temporary scheme, but it may be extended.
If you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work, or duties as an armed forces reservist.
The grant does not need to be repaid but will be subject to Income Tax and self-employed National Insurance.
There is other support available if you’re not eligible for the grant.
HMRC will work out if you’re eligible and how much grant you may get. But you can follow these steps to help you understand how we will do this and what you can do now.
Visit the GOV.UK to check if you’re eligible to claim and how to claim.