Thank you for contacting me about support for the self-employed during these unprecedented times due to coronavirus.
I welcome that measures have been announced to help self-employed people, many of whom are especially vulnerable during this time.
I welcome the SEISS Grant Extension announced by the Chancellor, which will provide critical support to the self-employed at a level similar to the new Jobs Support Scheme. The initial extension grant will cover 20 per cent of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £1,875 in total. I also welcome that, from January, outstanding income tax self-assessment payments can be extended for 12 months.
I understand that the Treasury will review the level of the second grant and set this in due course, and I have passed your comments onto my colleagues at the Treasury so that they are aware of the strength of feeling on this issue.
The SEISS Grant Extension follows the previous extension whereby self-employed individuals can qualify for a second taxable grant, with the scheme having reopened for applications on 17th August 2020 and closing on 19th October 2020.
I hope that these measures come as a welcome relief to those in self-employment who have been put in a difficult position during this crisis.
Thank you again for taking the time to contact me about this important topic.