Self-Employment Income Support Scheme Extension
On Friday, it was announced that the Self-Employment Income Support Scheme will be extended, with applications opening in August for a second and final grant. This will be paid out in a single instalment, the equivalent of 70% of three months’ average monthly trading profits up to a total value of £6,570.
Furlough Scheme changes
Changes to the furlough scheme were also announced including businesses allowed to bring staff back part-time from 1st July but with employer’s paying more towards the cost of the scheme from 1st August with the scheme closing on 31st October. There is also a cut-off date effectively of 10th June after which staff cannot be furloughed for the first time.
A Government briefing about both these schemes is on the following link: Factsheet_for_SEISS_and_CJRS_schemes