Income support scheme for self-employed

30th March 2020

The Chancellor has announced a new scheme to support the self-employed and members of a partnership who have lost income due to the coronavirus outbreak. The Self-employment Income Support Scheme will provide a taxable grant worth up to 80% of a self-employed person’s trading profits up to a maximum of £2,500 per month for the next three months. To be eligible, claimants must have average annual trading profits of less than £50,000 and earn more than half their income from self-employment.