Claim a grant through the coronavirus Self-employment Income Support Scheme
You can use this scheme if you’re self-employed or a member of a partnership in the UK and have lost income due to coronavirus.
It’s important to know that the online service you’ll use to claim is not available yet and should be made available in mid May 2020, making payments by early June 2020.
This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 a month. It will be available for 3 months, but may be extended. This is a grant which doesn’t need to be repaid but is still subject to Income Tax and National Insurance contributions.
It also doesn’t stop you from claiming Universal Credit while you wait for the grant. The grant should be recorded as a part of your self-employment income. If you receive the grant you can continue to work or take on other employment including voluntary work.
If you have other employment as an employee paid through PAYE your employer may be able to get support using the Job Retention Scheme.
If you need any help with any of the above, please contact us.