The Chancellor, Rishi Sunak, recently announced details of the extension to the furlough scheme which is currently supporting 8.4 million workers across the UK.
There had been concerns that no additional support would be offered to self-employed workers, but the Chancellor confirmed there would be an extension to the Self-Employment Income Support Scheme (SEISS).
The SEISS was established by the UK Government and opened in mid-March to assist those who are not in PAYE employment.
Those who are eligible for the scheme will now be able to claim a second and final grant in August - worth 70 per cent of their average monthly trading profits.
This will be paid out in a single instalment, which is set to cover three months' worth of profits, and will be capped at £6,570 in total.
The UK Government has confirmed that so far there have been 2.3 million claims worth £6.8 billion on the SEISS scheme.
However, with the extension of the scheme, many people may be looking to apply either for the first time or once again.
The first grant, worth 80 per cent of profits, can still be applied for, however, this must be done by Monday, July 13.
Self-employed people do not have to have applied for the first grant in order to receive the second.
Those who are eligible for the grant should have been contacted by HMRC, however, it may be the case self-employed people need to check online if they have not received correspondence.
Including the first grant in May, the maximum amount self-employed workers can receive is £14,070 each.
There had been calls for self-employed and freelancers to be paid the same as employees who are furloughed, but this has been rejected.
How do I apply for SEISS?
Visit the uk.gov website here and use the SEISS eligibility checker - this will tell you if you are entitled to receive the grant.
The UK Government also stipulates that eligibility is also dependent on whether a person can prove their work or business has been adversely affected by the coronavirus crisis.
A person’s average trading profit must be less than £50,000 a year, and they must earn more than 50 per cent of their total income through self-employment.
If a self-employed person believes they are eligible to claim after being rejected from the calculator, they should contact HMRC directly.
Check your eligibility for SEISS here.
