COVID-19 self-employed support continues

Published:  17 August, 2020

Self-employed mechanics recently saw more COVID-19 funding heading their way.

While government support for the furlough scheme has been cut as  employers have been asked to gradually add their own contributions for their staff, wider COVID-19 support continues to roll out, with the self-employed recently receiving more  overall support.

Since 17 August, self-employed people whose livelihoods have been affected by coronavirus have been able to claim a second payment of up to £6,570 via the Self Employment Income Support Scheme (SEISS) . More than 2.7 million benefited from the first stage of the SEISS - with the government providing £7.8 billion in grants. Anyone whose self-employed business has been adversely affected by coronavirus since 14 July is eligible for the scheme. People need to have had trading profits of no more than £50,000, making up at least half of their total income. Those eligible can now get a second and final grant worth 70% of their average monthly trading profits. Money arrives in bank accounts within six working days of making a claim.

Commenting on the second phase of the scheme, Chancellor of the Exchequer Rishi Sunak said: “Our self-employment income support scheme has already helped millions of hard working people, whose get up and go drive is crucial to our economy. It means that people’s livelihoods across the country will remain protected as we continue our economic recovery - helping them get back on their feet as we return to normal.”

HMRC will contact all potentially eligible customers to advise them that they can claim for a second and final SEISS grant.

The SEISS is part of an overall package of support for the self-employed, including Bounce Back loans, income tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays and the various business support schemes.

The SEISS was originally announced in March, and was due to expire on 31 May, but was extended.

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