Following the announcement of a second lockdown, the government have announced an extension of the self-employed income support scheme.
This scheme received praise during the first lockdown as it softened the blow for the majority of those who operate as self-employed.
On 5 November 2020 it was announced that there will be two further grant payments to qualifying individuals. These grant payments will cover the six-month period to April 2021.
The first grant will cover the period 1 November 2020 until 31 January 2021 and will amount to 80% of three months average trading profits. The grant payment is capped at £7,500.
The details of the second grant payment covering the remaining three months have not yet been released by the government.
With the support available in a constant state of flux, it can be difficult to keep up with the latest measures. Please get in touch to discuss and we would be happy to help – our partners are here to support you through these challenging times.
These details are in accordance with Government guidelines on 10 November 2020.
The information contained in this guidance has been obtained from public sources and every attempt has been made to ensure its accuracy at the date of publication. In this ever-changing environment, this information is subject to change and we will not accept liability for losses arising from changes in the law or the interpretation thereof.