News

Coronavirus: Chancellor unveils grants to support self-employed

The chancellor Rishi Sunak has announced financial support for self-employed workers hit by a loss of income amid the coronavirus crisis.

Self-employed people will be able to apply for a taxable grant of up to £2,500 a month to help them cope with the loss of income, the chancellor announced this evening. It will cover 80% of their average monthly profits.

It is expected the scheme will cover three months initially and grants will be paid by June 1.

Sunak told the self-employed: “You have not been forgotten, you won’t be left behind. We stand together.”

The chancellor said it should apply to 95% of self-employed people who earn the most of their income from self-employment.

Staff being kept on by employers can have 80% of their salaries paid by the government, in a new support scheme announced last week.

MoreCoronavirus: Travel agencies move for government ‘furlough’ support

Advice: What the coronavirus Job Retention Scheme actually means

Coronavirus: Government to cover 80% of wages of employees left without work

Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.