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Self Employed Grant Increased & Support for Jobs and Businesses

Posted: November 2, 2020
Posted: 02 November 2020

The self employed grant will be increased to 80% of eligible trading profits for November. This reverts to the previously announced 40% for December and January, as follows – quoted from the second document below:

  • Today, the Government is announcing that we will provide even more generous support to the self-employed, and we are increasing the support to the self-employed from 40 per cent of trading profits to 80 per cent for November.
  • As SEISS grants are calculated over 3 months, this increases the total level of the grant to 55 per cent of trading profits for November to January and the maximum grant will increase to £5,160.

The time for applications has been brought forward to 30 November

Self employed scheme link – https://www.gov.uk/government/news/government-increases-support-for-self-employed-across-the-uk

There is also a useful summary of “financial support for jobs and businesses”, including information on grants for businesses closing in lockdown, loans, etc, quoted:

  • An extension to the Coronavirus Job Retention Scheme until 2 December
  • More generous support to the self-employed and paying that support more quickly
  • Cash grants of up to £3,000 per month for businesses which are closed
  • £1.1 billion for councils to enable them to support businesses more broadly over the coming months, as a key part of the local economy
  • Plans to extend existing Loan Schemes and Future Fund to the end of January and an ability to top-up Bounce Back Loans
  • An extension to the mortgage payment holiday for homeowners
  • Providing councils with up to £500m of funding to support the local healthcare response

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/932077/ECONOMIC_SUPPORT_UPDATE__NOVEMBER__FINAL.pdf

If you have any questions please email: info@burgesshodgson.co.uk