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<p>The Chancellor of the Exchequer announced new support for the self-employed on
26 March 2020.</p><p>The new Self-Employed Income Support Scheme will help those with
lost trading profits due to COVID-19. It will allow eligible individuals to claim
a taxable grant worth 80% of their trading profits up to a maximum of £2,500 per month
for the next 3 months. This may be extended if needed and is one of the most generous
self-employed support schemes in the world.</p><p>To qualify, an individual’s self-employed
trading profits must be less than £50,000 and more than half of their income must
come from self-employment. Some 95% of people who receive most of their income from
self-employment could benefit from this Scheme.</p><p><strong> </strong></p><p>More
information about the Self-employment Income Support Scheme, including the full eligibility
criteria and how to claim, is available at <a href="https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme"
target="_blank">www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme</a>.</p>
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