Self-employed grant scheme to open to applications

Self-employed workers whose income has been hit by the coronavirus crisis can apply for grants from the government from 13 May.

Self-employed workers whose income has been hit by the coronavirus crisis can apply for grants from the government from 13 May.

The Self-Employed Income Support Scheme (SEISS) is designed to match the support being given to furloughed employees.

Under the scheme the government will pay self-employed people a taxable grant based on an average of their earnings over the past three years.

The grant will cover up to 80% of earnings up to a limit of £2,500 a month.

To be eligible self-employed workers must have filed a tax return for the 2018/19 tax year and have average trading profits under £50,000 for the past three years.

Detailed guidance about the grants can be found here.

ACCA
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