New Covid grant help for self-employed
The Hub News Team | 18.8.20
Self-employed people across the Marches have been urged to apply for a second wave of Government grants to help them recover from the impact of the coronavirus crisis.
The Government has made a second payment of up to £6,570 available to millions of self-employed people across the country who have seen their livelihoods adversely affected by the pandemic.
Over 2.7 million benefited from the first stage of the Self-Employment Income Support Scheme - with the government handing out £7.8 billion of grants to help them through the crisis.
Those eligible will now be able to receive a second and final grant worth 70 per cent of their average monthly trading profits, with the money being paid into bank accounts within six working days of making a claim.
The scheme - which re-opened on August 17 - is open to anyone whose self-employed business has been adversely affected by coronavirus since July 14.
Chancellor of the Exchequer Rishi Sunak said:
"Our self-employment income support scheme has already helped millions of hard working people, whose get up and go drive is crucial to our economy.
"It means that people's livelihoods across the country will remain protected as we continue our economic recovery - helping them get back on their feet as we return to normal."
HMRC will contact all potentially eligible customers to advise them that they can claim for a second and final SEISS grant.
The eligibility criteria is the same as for the first grant, with people needing to have had trading profits of no more than £50,000, making up at least half of their total income.