Support through the Self-employment Income Support Scheme
The UK government recognises the continued impact that coronavirus (COVID-19) has had on the self-employed and announced in November that there would be a fourth grant.
At the Budget it was confirmed that the fourth SEISS grant will be set at 80% of 3 months’ average trading profits, paid out in a single instalment, capped at £7,500. The fourth grant will take into account 2019 to 2020 tax returns and will be open to those who became self-employed in tax year 2019 to 2020. The rest of the eligibility criteria remain unchanged.
Your eligibility for the scheme will now be based on your submitted 2019 to 2020 tax return. This may also affect the amount of the fourth grant which could be higher or lower than previous grants you may have received.
Self-isolation Support Payment
Payments of £500 are available for residents who have received a notification from NHS test and trace to self-isolate, providing that period of self-isolation started on or after 28 September 2020.
The payment is to support those on low incomes, who would also lose income as a result of self-isolating, and to encourage people to get tested if they have symptoms.
The scheme will operate until 31 March 2021.
Eligibility for a £500 Test and Trace Support Payment is restricted to people who:
- have been told to stay at home and self-isolate by NHS Test and Trace, either because they have tested positive for coronavirus or have recently been in close contact with someone who has tested positive;
- are employed or self-employed;
- are unable to work from home and will lose income as a result; and
- are currently receiving Universal Credit, Working Tax Credit, income-based Employment and Support Allowance, income-based Jobseeker’s Allowance, Income Support, Housing Benefit and/or Pension Credit.