For the latest medical advice, visit NHS.uk/Coronavirus.
Self-Employed Income Support Scheme
The Government has launched the Self-Employed Income Support Scheme, paying self-employed people who have been adversely affected by coronavirus a grant worth 80 per cent of their average monthly profits over the last three years, paid out in a single instalment and capped at £7,500.
SEISS will continue with a fifth grant, expanding to include the newly self-employed in 2019-20. The fifth grant, covering May to September, will be determined by a turnover test to ensure that support is targeted at those who need it the most as the economy and society reopens. You can find out more here.
These changes will ensure that if you are affected by Coronavirus, work search and work availability requirements within Universal Credit are switched off. They will also provide access to other support within Universal Credit, such as a work allowance and childcare support for if you have a partner who is still able to work. If you are self-employed, you will also not have a Minimum Income Floor (an assumed level of income) applied for a period of time within Universal Credit.
At the 2021 Budget, the Chancellor announced that on top of the planned uprating, the Government is extending the temporary £20 per week increase to the Universal Credit standard allowance until the end of September 2021. This measure will apply to all new and existing UC claimants.
Employment and Support Allowance
Self-employed people are able to access support through the welfare system when they are unable to work. If they have accumulated two years of NICs, they can claim ‘new style’ Employment and Support Allowance.
For more information about Support for Individuals, click here.
For more information about Support for Businesses, click here.