CORONAVIRUS – SELF-EMPLOYED INCOME SUPPORT SCHEME EXTENDED AT 80%

 

The Chancellor has extended the self-employed income support scheme for a further three months.

The third instalment of the scheme will be available at 80% of average profits.

This is an increase from 55% and will follow similar conditions as the previous two grants made available under the scheme.

The third grant will cover the period of November 2020 to January 2021.

This grant will be capped at £7,500, representing a monthly cap of £2,500.

These changes are in line with the extensions made to the furlough scheme, which is increased to 80% as a flat percentage of regular pay for the next five months.

We will be able to assist all qualifying self-employed clients with this third claim.
If you would like further information on the support available to your business, please contact a member of our team.

Best wishes,

Alan

Alan Wright
Coronavirus Support Team
Switch Accountants