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Coronavirus: UK government unveils aid for self-employed

The UK Government announced on 26 March, that self-employed workers will be able to apply for a grant of up to £2,500 a month to help them cope with the financial impact of coronavirus.

The money will be paid in a single lump sum, but will not begin to arrive until the start of June at the earliest.

Plans for 80% wage subsidies for staff kept on by employers were announced last week. Please see our Practice News Page titled COVID-19 USEFUL INFORMATION.

If you are self-employed, then you will be able to apply for a grant worth 80% of your average monthly profits over the last three years, up to £2,500 a month. 

The Government has said that the grants would be available to people across the UK for at least three months, and longer if necessary. 

The scheme does not cover people who only became self-employed very recently – they will have to look to the benefits system for support.

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What help will the self-employed get?