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Sat, 24 October 2020

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Millions of self-employed to claim up to £6,570 as second stage of coronavirus income support scheme opens

Millions of self-employed to claim up to £6,570 as second stage of coronavirus income support scheme opens

Rishi Sunak said the SEISS scheme will help people 'get back on their feet as we return to normal' (PA)

2 min read

Millions of self-employed people will be able to claim a second payment from the Government as a new stage of a key coronavirus Treasury scheme opens.

From Monday, those eligible will receive a government grant worth up to £6,570 to cope with the disruption to their livelihoods caused by the coronavirus pandemic.

So far more than 2.7 million people have claimed £7.8billion from the first stage of the Self Employment Income Support Scheme (SEISS).

Those eligible will now be able to receive a second and final grant worth 70% of their average monthly trading profits.

Anyone whose self-employed business has been adversely affected by Covid-19 since 14 July is eligible, with the money due to land in people’s bank accounts within six working days.

Chancellor Rishi Sunak said: “Our self employment income support scheme has already helped millions of people, whose hard work running their own businesses is crucial to our economy.

“It means that people’s livelihoods across the country will remain protected as we continue our economic recovery - helping them get back on their feet as we return to normal.”

The Treasury said HMRC will contact all potentially eligible customers, including those who did not claim the first time round.

The criteria remains the same, with people needing to have had trading profits of no more than £50,000, and making up at least half of their total income.

It come after a think tank warned that two million viable jobs will be needlessly lost if the Government goes ahead with the plan to end its furlough scheme in October.

The new research, drawn up by the Institute for Public Policy Research, warns simply withdrawing the flagship jobs scheme without replacing it will cause unemployment at levels “not seen since the Great Depression of the 1930s”. 

And it also calls for major increases in Universal Credit benefits to help those who end up out of work due to the pandemic.

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