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Q&A: Self-employment Income Support Scheme

On Thursday 26 March the Chancellor announced the Coronavirus Self-employment Income Support Scheme to provide financial support for the self-employed and members of partnerships in the form of a taxable cash grant in the fight against covid-19. Here we assess the key measures and eligibility criteria

The Coronavirus Self-employment Income Support Scheme allows individuals to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 per month for three months from March to May 2020.  This may be extended if needed.

 

How and when will the grant be paid?

The taxable cash grant will be in the form of a single lump sum to cover the three months from 1 March to 31 May 2020. It will be paid in June 2020 to those that are eligible directly into their bank account.

 

Who is eligible?

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