Financial support scheme for self-employed announced

26 March, 2020

 

The Chancellor Rishi Sunak has announced a new scheme to support self-employed workers who have been hit by coronavirus restrictions.

Under the scheme they can apply for a grant of up to £2,500 per month.

The scheme is open to people who are already self-employed, have a self-assessment tax return for 2019 and that make trading profits of up to £50,000.

Grants will be calculated using average monthly profits over the last three financial years. The money will be available from June and will initially last three months.

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