Self employed individuals are not eligible for the Coronavirus Job Retention Scheme, where the Government committed to pay up to £2,500 each month in wages of employed workers who are furloughed during the outbreak.
The Self Employment Income Support Scheme (SEISS) is intended to bring parity for self employed workers. SEISS is the Government scheme to support individuals who are self employed, or members of trading partnerships whose businesses have been adversely affected by COVID-19.
Eligible individuals can claim a taxable grant worth 80% of their trading profits, up to a maximum of £2,500 a month, or £7,500 in total (equivalent to three month’s profit). It will be available for 3 months, but may be extended. To find out more about the scheme, who is eligible, how to apply and recommended next steps download our SEISS Briefing.