| answer text |
<p>The Government remains committed to supporting the self-employed population during
the COVID-19 pandemic through a substantial package of support.</p><p> </p><p>Self-employed
people who do not have a business premises may be eligible for the Additional Restrictions
Grant (ARG). The Government recently increased the funding available under this scheme
to £1.6 billion across England. It is up to each local authority to determine eligibility
for this scheme based on their assessment of local economic need; however, the Government
encourages local authorities to support businesses which have been affected by COVID-19
restrictions but which are ineligible for the other grant schemes.</p><p> </p><p>Moreover,
eligible self-employed individuals who have been affected by reduced demand or have
been unable to trade due to COVID-19, which they believe will lead to a significant
reduction in their trading profits, can claim the Self-Employment Income Support Scheme
(SEISS) grant.</p><p> </p><p>The third SEISS grant covers the three-month period from
November 2020 until January 2021. It is a taxable grant calculated at 80 per cent
of three months’ average monthly trading profits, paid out in a single instalment
and capped at £7,500 in total.</p><p> </p><p>In addition, the Government has made
available other elements of support. The Universal Credit standard allowance has been
temporarily increased for 2020-21 and the Minimum Income Floor relaxed for the duration
of the crisis, so that where self-employed claimants' earnings have fallen significantly,
their Universal Credit award will have increased to reflect their lower earnings.
In addition to this, they may also have access to other elements of the package, including
Bounce Back loans, tax deferrals, rental support, mortgage holidays and self-isolation
support payments.</p>
|
|
