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| Coronavirus: Self-employed grant scheme to open to applications | Coronavirus: Self-employed grant scheme to open to applications |
| (32 minutes later) | |
| Millions of self-employed people whose business has been affected by coronavirus can apply for grants from the government from Wednesday. | Millions of self-employed people whose business has been affected by coronavirus can apply for grants from the government from Wednesday. |
| The Self Employed Income Support Scheme is designed to match the support being given to furloughed employees. | The Self Employed Income Support Scheme is designed to match the support being given to furloughed employees. |
| The grants will be calculated as 80% of average monthly profit over a period of up to three years. | The grants will be calculated as 80% of average monthly profit over a period of up to three years. |
| The government said the money will be paid into the accounts of eligible people six days after applying. | The government said the money will be paid into the accounts of eligible people six days after applying. |
| The maximum payment will be £7,500, intended to cover March, April and May. | The maximum payment will be £7,500, intended to cover March, April and May. |
| The scheme is the biggest direct financial support package for freelancers and the self-employed since lockdown started. | The scheme is the biggest direct financial support package for freelancers and the self-employed since lockdown started. |
| The process will be run by HM Revenue & Customs (HMRC), which has been operating and overseeing loan schemes and the government's furlough payments. | The process will be run by HM Revenue & Customs (HMRC), which has been operating and overseeing loan schemes and the government's furlough payments. |
| HMRC says most of the 3.5 million people affected should have been contacted, and invited to get ready to make a claim by using its eligibility checker. | |
| They will then have been given a time at which to apply, between Wednesday and 18 May, although if applicants are unable to file at that time HMRC says they can still go ahead and apply. | |
| Inevitably, some people's records will not be up to date or they may not be at their normal address. HMRC says anyone who thinks they are eligible but has not heard from it should go to its website and use the checker tool. Claims can then be made from 17 May. | Inevitably, some people's records will not be up to date or they may not be at their normal address. HMRC says anyone who thinks they are eligible but has not heard from it should go to its website and use the checker tool. Claims can then be made from 17 May. |
| Most should receive any money they are entitled to from 25 May. | Most should receive any money they are entitled to from 25 May. |
| 'Income crisis' | 'Income crisis' |
| The scheme was unveiled in March after the government faced criticism for failing to provide support for self-employed and freelance workers in its earlier package of economic measures. | The scheme was unveiled in March after the government faced criticism for failing to provide support for self-employed and freelance workers in its earlier package of economic measures. |
| But those who started in business from early April last year will miss out, as will those who pay themselves just with dividends from a limited company. | But those who started in business from early April last year will miss out, as will those who pay themselves just with dividends from a limited company. |
| Derek Cribb, chief executive of the Association of Independent Professionals and the Self-Employed, said: "For the self-employed, coronavirus is not only a health crisis, but also a pressing income crisis. | Derek Cribb, chief executive of the Association of Independent Professionals and the Self-Employed, said: "For the self-employed, coronavirus is not only a health crisis, but also a pressing income crisis. |
| "We are delighted that the government has heeded much of IPSE's advice by setting up the Self-Employment Income Support Scheme, which extends a much-needed lifeline to those self-employed people who are eligible for it." | "We are delighted that the government has heeded much of IPSE's advice by setting up the Self-Employment Income Support Scheme, which extends a much-needed lifeline to those self-employed people who are eligible for it." |
| The government has not said whether the initiative will be extended into the autumn in line with the furlough scheme, which protects 80% of employees' wages up to £2,500 a month. | The government has not said whether the initiative will be extended into the autumn in line with the furlough scheme, which protects 80% of employees' wages up to £2,500 a month. |
| On Tuesday, Chancellor Rishi Sunak announced that scheme was being extended until the end of October. | On Tuesday, Chancellor Rishi Sunak announced that scheme was being extended until the end of October. |
| Mr Sunak said: "With payments arriving before the end of this month, the self-employed across the UK will have money in their pockets to help them through these challenging times." | Mr Sunak said: "With payments arriving before the end of this month, the self-employed across the UK will have money in their pockets to help them through these challenging times." |
| Will you be applying to the grant scheme? Tell us about your situation. Email haveyoursay@bbc.co.uk. | |
| Please include a contact number if you are willing to speak to a BBC journalist. | |
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