From today, self-employed people can claim grants worth up to £6,570 each to make up income lost due to the coronavirus after 14 July.
This second round of the self-employed income support scheme (SEISS) is less generous than the first, which closed on 13 July. While the first scheme covered 80% of average trading profits up to £2,500 per month, this time the cap is set at 70%, up to £2,190 per month.
To be eligible, more than half the claimant’s income must come from work carried out as self-employed.
They must also be able to show a trading profit of less than £50,000 in 2018/19, or an average of less than £50,000 across 2016/17, 2017/18 and 2018/19.
As with the first grant, the second round will be made in a single payment covering the full three month period.
Chancellor 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.”