Covid-19 : Business Support 07.12.20 – Update 52
Newly Self Employed Support Scheme (“NSESS”)
The Department for the Economy (“DfE”) last week announced a support package of £10 million, for newly self-employed individuals (sole traders and those in partnerships) whose business is adversely impacted by Covid-19 and who have not been able to access support from the UK government’s Self-Employed Income Support Scheme.
The scheme offers a one-off taxable grant of £3,500 for those who commenced trading as self-employed between 6 April 2019 and 5 April 2020 and their business had been adversely impacted by Covid-19. Additionally trading profits for 2019/20 must be below £50,000 and over 50% of their income must be from self-employment.
To check if you meet the additional eligibility criteria, please see the eligibility checker here and follow through for details on the application process.
This scheme is open now for applications, and will close at 6pm on 7 January 2021.