On Thursday 26 March the Chancellor announced a new Self-Employment Income Support Scheme (SEISS) to support those whose income has been negatively impacted by coronavirus. 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.
For more information and guidance on the SEIS Scheme, view the links below:
- Self-employment income support scheme
- Claim a grant through the coronavirus (COVID-19) Self-employment Income Support Scheme
This scheme is being delivered by HMRC.
- HMRC will contact eligible customers directly once the scheme is operational – customers should not be advised to contact HMRC now.
- The Grant will be paid directly into the eligible customers’ bank account.
- Grants are expected to start to be paid out by the beginning of June 2020.
The SEIS Scheme will be treated as earnings in Universal Credit. A customer’s Universal Credit payment will adjust in response to changes in their earnings.
If a customer needs financial help whilst waiting for SEISS, they should check their eligibility to claim Universal Credit.