Self-Employment Income Support Scheme Grant Extension
This scheme allows self-employed people to access grants to enable them to support themselves throughout the Covid-19 pandemic.
To be eligible you must prove that you will continue to trade, once you receive the grant, are currently not able to trade or have reduced trading due to Covid-19. You must also have been eligible for the first two grants. Applications for the first two grants have expired.
November 2020 to April 2021.
You will paid two lump sums for each three month period.
The first grant, running from November 2020 to January 2021 will be calculated by taking 80 per cent of your average trading profits, with a cap of £7,500
The numbers behind the second grant have not been released (covering the period February 2021 to April 2021). we will update you in due course.
Yes, the grants do count as taxable income and are eligible for National Insurance contributions too.
The full guidance on how to apply has not been released yet. We will let you know in due course.