Covid-19 financial support for self-employed increased

The chancellor has increased the cap on the next payment due through the UK-wide Self Employment Income Support Scheme to £5,160.

It represents the third change to the system for aiding the self-employed in just six weeks, as ministers scramble to get on the top of the resurgent coronavirus pandemic.

Sunak announced on 24 September that people still working for themselves but facing reduced trade during the pandemic could claim a grant equivalent to 20 per cent of average profit for the three months from November to January.

This was doubled to 40 per cent on 22 October – and now the payment for November has doubled again to 80 per cent. This means the overall payment for the three-month period has been adjusted to 55 per cent.

To be eligible for the latest grant through the scheme, self-employed individuals and members of partnerships must have been eligible for the first and second payments, even if they didn't claim them. They must also declare:

• that they continue to trade, and either:
• are currently actively trading but are impacted by reduced demand due to the coronavirus, or
• were previously trading but are temporarily unable to do so due to the coronavirus.

Applications can be made from 30 November. Details of a fourth tranche, to cover February, March and April 2021, will be set out in the coming months.

This article originally appeared on Architects' Journal written by Greg Pitcher