The Government is supporting the self-employed through an unprecedented package of measures during this period of disruption. Measures include a temporary relaxation of the earnings rules (known as the Minimum Income Floor) for self-employed claimants who are sick or self-isolating according to Government guidance. The Government has extended this to all self-employed claimants, not just those directly impacted by the virus, ensuring those affected by the economic impact of the outbreak are supported.
On 26 March, the Chancellor announced a world-leading scheme to support the UK’s self-employed affected by Covid-19. The Self-employment Income Support Scheme (SEISS) will support self-employed individuals, including members of partnerships, whose income has been negatively impacted. The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits up to a cap of £2,500 per month.
Details of Government support for business during the Coronavirus outbreak can be found at: www.businesssupport.gov.uk/coronavirus-business-support/.