The Self-employment Income Support Scheme

In short, the scheme will allow self-employed workers to claim 80% of their average income, if the average income is under £50k. The cap is £2,500 per month, for three months. The average income will be worked out based on what you have earned over the past three years. The money will be paid into your account in one lump sum in June 2020.

If your business has not been operational for a full three years, an average will be taken from as much information as can be gathered about your earnings thus far.

Regrettably, if your business does not meet the government requirements, the scheme cannot offer you a grant. In this case, you are strongly advised to apply for jobseekers allowance or universal credit. To make this process easier, the application process has been drastically simplified, including an abolishment of job centre meetings.

For full details of the scheme, click here.