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Business help and support during Coronavirus

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7. Self Employment Income Support Scheme

The Self-employment Income Support Scheme (SEISS) will support self-employed individuals by providing a grant worth 80% of their profits up to a cap of £2,500 per month. HMRC has identified eligible taxpayers and has contacted them directly with guidance on how to apply. 

What other support is available?

The initial advice is to apply for Universal Credit (UC), which is claimed online with the DWP.

If it is unlikely that UC will cover your outgoings you may need to get a Government backed loan. The Bounce Back Loan Scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000 and the Business Interruption Loan Scheme offering bank lending and overdrafts up to £5m.

Help with Council Tax is available from Council Tax Reduction and there is also an Exceptional Hardship Scheme. The Government has announced a Hardship Fund to be made available to support economically vulnerable people and households. We have now received guidance and we are working through the detail so that we can  update our information online as soon as possible.