After the second lockdown was announced and the furlough scheme was extended, the Chancellor Rishi Sunak has also released details of more support for the self-employed.
Initially, the self-employed income support scheme was worth up to £3,750 to cover affected profits from November through to January.
This has now been increased, so for the month of November, the self-employed can claim 80% of their average past trading profits. The Government has also promised to pay the grants faster than previously planned, with the application opening at the end of November, instead of the middle of December.
We are pleased that the Government has increased the level of support for the self-employed so it is brought in line with the furlough scheme.
If you need any support or help with navigating your business through this difficult time, please get in touch with the friendly Clear Vision Financial Management team, call us on 01794 330025 or email us.