Guidance on the extension of the Self-Employment Scheme has been published. To be eligible for the grant extension self-employed individuals, including members of partnerships, must:
The extension will provide two grants and will last for six months, from November 2020 to April 2021. Grants will be paid in two lump sum instalments each covering a three-month period. The first grant will cover a three-month period from the start of November until the end of January. HMRC will provide a taxable grant covering 20 per cent of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £1,875 in total.
There is also a video on the extended scheme