Friday, 29 May 2020

Chancellor extends self-employed income support scheme

The Chancellor this evening annouced some good news for the self-employed. It has been confirmed that the self-employment income scheme (SEISS) will be extended, with applications opening in August for the second and final grant payment. 

The second grant will work the same as for the first grant, however the max grant will be capped at £6,570 or 70% of average profits (previously 80%).

Unfortunately the support grant still excludes company directors who earn dividends from their own limited company.

The SEISS scheme will then end.

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