Applications now open for self-employed grant scheme
The Self-Employment Income Support Scheme (SEISS) offers taxable grants worth 80% of people’s average monthly profits, up to a maximum of £2,500.
Millions of people are expected to apply for the grant, which is paid out in a single instalment covering three months and capped at £7,500 altogether.
The government said money should be in people’s bank accounts within six working days of making a claim.
People who apply for the grant can carry on working as normal.
The scheme, which is due to last for three months but could be extended, was expected to launch in June.
Chancellor Rishi Sunak said: “We’re working ahead of time to deliver support to the self-employed and from today, applications open for the millions of people eligible for the scheme.”
Are you eligible?
You can apply for a grant if your business has been adversely affected by coronavirus and you filed a self assessment tax return for 2018/19.
You must earn at least half of your income through self-employment and have trading profits of no more than £50,000 a year.
If you’re not eligible based on your 2018/2019 tax return, HMRC will look at the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019.
You should have been contacted by HMRC if you’re eligible for the scheme.
If you haven’t heard from HMRC, you can find out if you’re eligible using this online tool.