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<p>The Chancellor of the Exchequer announced an extension of the Self-Employment Income
Support Scheme on 29 May, and eligible individuals may now qualify for a second and
final grant. This means the UK continues to have one of the most generous self-employed
COVID-19 support schemes in the world as the economy reopens.</p><p>The extension
of the scheme means that eligible individuals whose businesses are adversely affected
by COVID-19 will be able to claim a taxable grant worth 70 per cent 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. This is in line with changes to the Coronavirus
Job Retention Scheme as the economy reopens and the eligibility criteria remain the
same.</p>
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