Those who are self employed and meet the eligibility criteria will be able to claim a second and final grant in August. Like the first grant, it is taxable.
The grant is worth 70% of average monthly trading profits covering three months up to a total maximum of £6,570.
Self- Employed Individuals have until 13 July to apply for the first grant which provides that eligible individuals can claim a taxable grant worth 80% of their average monthly trading profits covering three months’ worth of profits, and capped at a total maximum of £7,500.
The eligibility criteria are the same for both grants, and individuals will need to confirm that their business has been adversely affected by coronavirus.
Self-employed individuals can claim for the second grant without having to have applied for the first grant. This might be because they have only been adversely affected by COVID-19 in this later stage.
The Government has announced that further guidance on the second grant will be published on Friday 12 June.