The purpose of this fund is to provide hardship relief to newly self-employed individuals who have not been able to access support through other schemes or have exhausted all other avenues for business support. To be eligible you must meet all of the following criteria. If you receive the grant you can continue to work or take on other employment including voluntary work.
- Became self-employed on/after 6 April 2019 (did not submit a tax return including income from self-employment for 2018-19)
- Over 50% of individual income is from self-employment
- Trading profits below £50,000 in financial year 2019-20
- Can provide evidence of active trading up to March 2020 and intend to continue trading in the tax year 2020-21
- Have lost business due to coronavirus and experience personal financial hardship as a result
- Ineligible for other COVID-19 related business support (including the Business Interruption Loan Schemes, Corporate Finance Fund, Job Retention Schemes, Future Fund, R&D Focussed SMEs Fund, HMRC Self-Employment Income Support Scheme, Non-Domestic Rates relief, Small Business Grant or other business support)
- Do not receive working age benefit payments (Universal Credit, Statutory Sick Pay, Employment and Support Allowance, Job Seekers’ Allowance, Income Support, or have applied for but not yet started receiving Universal Credit or an advanced payment of Universal Credit)
- Trade as self-employed, not as a limited company. If in a partnership, are self-employed for pay and tax purposes.
- Have taken steps to limit costs and expenditure (including through schemes such as VAT deferral and seeking a mortgage payment holiday)
- Do not have access to sufficient savings or other sources of income to meet basic needs
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