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Government’s monetary support to the self-employed

31 March 2020 / Richard Curtis
Issue: 4738 / Categories: Comment & Analysis
An ill wind

Key points

  • The government announces that self-employed people will also be eligible for a grant.
  • A taxable grant will be paid for at least three months.
  • Trading profits must be less than £50 000.
  • More than half of income must be from self-employment.
  • Trading profits will be calculated by averaging profits in 2016-17 2017-18 and 2018-19.
  • A shorter period can be used if trading had started after 6 April 2016.
  • Those starting self-employment after 6 April 2019 will not be eligible for the grant.

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