Chancellor extends Self-Employment Support Scheme and confirms furlough next steps

Source - GOV.UK

On Frdiay May 29, Chancellor Rishi Sunak announced Self-Employment Income Support Scheme has been extended - with those eligible able to claim a second and final grant capped at £6,570

The Chancellor also outlined further details on the extension of the Coronavirus Job Retention Scheme, including improved flexibility to bring furloughed employees back part time in July, and a new taper requiring employers to contribute modestly to furloughed salaries from August

Those eligible under the Self-Employment Income Support Scheme (SEISS), which has so far seen 2.3 million claims worth £6.8 billion will be able to claim a second and final grant in August. The grant will be worth 70% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,570 in total.

The Chancellor also set out more details on how the Coronavirus Job Retention Scheme (CJRS) will continue to support jobs and business as people return to work, following the announcement of an extension of the scheme on 12 May.

To read all Governemnt help set out by the Chancellor click here