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Second Round of Income Support Grants for Self-Employed Now Open

Published: 1st September 2020 09:09

You may be eligible for financial assistance from the government with the second and final round of income support for those self-employed during the COVID-19 pandemic.

The taxable grant is worth 70% of average monthly trading profits, paid out in a single instalment covering 3 months' worth of profits, and capped at £6,570 in total. 

Claims for the second round must be submitted by October 19th. For more information on whether or not you may qualify and how to claim, visit the government website here.

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John Cartlidge
At 09:43 on 1st September 2020, John Cartlidge commented:
A note of caution for those who have applied or are intending to apply for these grants; double check the small print. Ultimately it is a means tested benefit, although no assessment of means is required to claim. The details state (words to the effect of) a person is only eligible if they would otherwise qualify for means tested Income Support e.g. minimal savings, minimal or no income. This differs from the employed furlough ‘Job Retention Scheme’ wherein an employee, via the employer, regardless of financial standing will receive the salary / wage benefit. One would hope it is unlikely there will be a back dated review of claims.

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