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Self-Employment Income Support Scheme grant extension
This grant extension is for self-employed people who are currently eligible for the Self-Employment Income Support Scheme and are actively continuing to trade, but are facing reduced demand due to coronavirus (Covid-19).
To be eligible for the grant extension self-employed individuals, including members of partnerships, must:
- currently be eligible for the the Self-Employment Income Support Scheme (although they do not have to have claimed the previous grants)
- declare that they are currently actively trading and intend to continue to trade
- declare that they are impacted by reduced demand due to coronavirus in the
- qualifying period (the qualifying period for the grant extension is between 1 November and the date of claim)
The extension will provide two grants and will last for six months, from November 2020 to April 2021. Grants will be paid in two lump sum instalments each covering a three-month period.
The first grant will cover a three-month period from the start of November until the end of January. HMRC will provide a taxable grant covering 20 per cent of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £1,875 in total.
HMRC are providing broadly the same level of support for the self-employed as is being provided for employees through the Job Support scheme.
The second grant will cover a three-month period from the start of February until the end of April. HMRC will review the level of the second grant and set this in due course.
The grants are subject to Income Tax and National Insurance Contributions.
Find out more
Coronavirus links for businesses
Bradford Council’s Invest in Bradford team can help with guidance and support with all aspects of business planning and grant funding. Email: info@investinbradford.com, or call 01274 437727.
For local advice visit Bradford Council’s Covid-19 business support page.
For national guidance visit the UK Government website.
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