Self-employed workers who have been adversely affected by the coronavirus outbreak can claim another grant – after the Government extended its support.
But the grant will be capped at £6,570 and will be the final handout available for workers under the Government’s Self-Employment Income Support Scheme (SEISS).
Chancellor Rishi Sunak has announced that those eligible under the SEISS – which has so far seen 2.3 million claims worth £6.8 billion – will be able to claim a second and final grant in August.
It will be worth 70 per cent of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits – and capped at £6,570 in total.
The announcement comes after the Chancellor issued an update on the Government’s Coronavirus Job Retention Scheme – which sees the Government pay 80 per cent of employees wages up to £2,500.
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Chancellor Rishi Sunak said: “Our top priority has always been to support people, protect jobs and businesses through this crisis. The furlough and self-employment schemes have been a lifeline for millions of people and businesses.
“We stood behind Britain’s businesses and workers as we came into this crisis and we stand behind them as we come through the other side.
“Now, as we begin to re-open our country and kickstart our economy, these schemes will adjust to ensure those who are able to work can do so, while remaining amongst the most generous in the world.”
Adam Marshall, Director General of the British Chambers of Commerce (BCC) has welcomed the announcement that support will be extended for the self employed.
He said: ” The extension of support for the self-employed will come as welcome relief for those who have seen their livelihoods impacted by the virus.
“It is right that this group continues to receive similar levels of support to those on PAYE.”