The Chancellor has announced an extension to the Self-Employment Income Support Scheme, and given further details on the extension of the Coronavirus Job Retention Scheme (CJRS). The Self-Employment Income Support Scheme has now been extended. A second and final grant will be available when the scheme opens again in August 2020. Individuals will be able to claim a second taxable grant 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 deadline for claiming the first grant which covers March – May is 13 July. The CJRS will continue until October, however from August, the level of government grant provided through scheme will be slowly tapered to reflect that people will be returning to work, with employer contributions to the 80% of employees furloughed wages starting in August.
