Self-employed and furloughed workers will no longer be able to claim for the UK Government's job retention schemes after October.
Chancellor Rishi Sunak announced at the UK Government's daily coronavirus briefing that Self-Employed Income Support scheme will be extended, with claimants able to claim a second and final grant capped at £6,570.
The grant is worth 70% of a business's average monthly trading profits, paid out in a single payment covering three months.
Speaking at the briefing, Mr Sunak said: "Our resources must turn to planning for the recovery.
"We haven’t been able to support everyone in the exact way they wanted. There will be no further extensions to the schemes."
He added: "Our top priority has always been to support people, protect jobs and businesses through this crisis. The furlough and self-employment schemes have been a lifeline for millions of people and businesses.
"We stood behind Britain’s businesses and workers as we came into this crisis and we stand behind them as we come through the other side.
"Now, as we begin to re-open our country and kickstart our economy, these schemes will adjust to ensure those who are able to work can do so, while remaining amongst the most generous in the world."
There was also an announcement regarding the Coronavirus Job Rob Retention scheme, which has enabled employers to place employees on furlough with the UK Government paying 80% of each employee's wages
The scheme will continue to run until August, when businesses will be asked to contribute towards 80% of an employee's wages.
In September, the UK Government will pay 70% of a furloughed employee's wages up to £2,190, while employers will pay ER NIC's and pension contributions as well as 10% of the employee's wages up to £2,500.
In October, the Government will pay 60% of a furloughed employee's wages up to £1,875 will employers paying contributions and 20% of wages up to £2,500.
