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Government response
government response summary
The Self-Employment Income Support Scheme requires trading profits to be at least equal to non-trading income to ensure it is targeted at those who are most reliant on their self-employment income.
government response details
As the economy reopens, the Self-Employment Income Support Scheme (SEISS) continues to be one of the most generous self-employed COVID-19 support schemes in the world.The self-employed are very diverse and have a wide mix of turnover and profits, with monthly and annual variations even in normal times, and in some cases with substantial alternative forms of income too. The design of the SEISS, including the eligibility requirement that an individual’s trading profits must be no more than £50,000 and at least equal to their non-trading income, means it is targeted at those who need it the most, and who are most reliant on their self-employment income.The Chancellor of the Exchequer has said there will be no further extension or changes to the SEISS. However, individuals receiving more than half their income from other sources may still be eligible for other elements of the unprecedented financial support provided by the Government. The SEISS is one element of a comprehensive package of support for individuals and businesses, including Bounce Back loans, tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays, and other business support grants. More information about the full range of business support measures is available at www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19.HM Treasury
government response created at
2020-06-10T16:52:36.251000+00:00
government response updated at
2020-06-10T16:52:36.251000+00:00
government response has e-petition
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e-petition has government response
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