Tonight the Chancellor announced that the Self-Employment Income Scheme will be extended, with applications opening in August for a second and final grant. NITA welcomes this continued support for its members including tour guides and experience providers who have not been able to benefit from their spring and summer season.
This will be paid out in a single instalment, covering three months’ worth of average monthly trading profits. This final grant will be 70% of average monthly trading profits up to a total of £6,570.
Notably there was no announcement for support for people whose businesses is structured as a registered company.
For further information, visit https://www.gov.uk/government/news/chancellor-extends-self-employment-support-scheme-and-confirms-furlough-next-steps