Self-Employed Income Support Scheme

Published on: 27/03/2020


The Chancellor has just announced the Government’s package of support for the self-employed; the Self-Employed Income Support Scheme.

In summary:

  • The Government will pay a taxable grant of 80% of average monthly profit over the last 3 years up to £2,500 per month
  • This matches the provision made for employees under the Coronavirus Job Retention Scheme
  • This will be in place for 3 months, backdated to 1st March 2020
  • Payments under the scheme will be accessible from the beginning of June, so individuals will receive their 3 months’ in one lump sum payment
  • HMRC contacts eligible individual directly
  • Applicants then fill out a form and receive pay from HMRC directly into their bank accounts


  • The scheme will only be accessible to self-employed people with trading profits up to 50,000 per annum
  • Applicants must make the majority of income through self-employment
  • Must have a tax return for 2019 to be able to apply (aimed at ensuring people cannot suddenly claim they are self-employed to access the scheme)

This does not address immediate cash-flow issues which many self-employed are facing.

However, the Chancellor repeated that some self-employed can also access the following:

  • Universal credit (with an advance payment)
  • Business interruption loans
  • July tax return payments are deferred until January 2021


This information is for guidance purposes only and should not be regarded as a substitute for taking professional and legal advice. Please refer to the full General Notices on our website.