It was announced in March that the government would be providing a Self-Employed Income support scheme for business groups such as electricians, musicians, freelancers and hairdressers, etc. who are unable to access the Job Retention Scheme. The scheme was planned to open in June but it has been widely reported that it has opened today as HMRC was able to complete its advanced work ahead of schedule. 

Sky News reported that the scheme opened today (13 May) at 8am and received 110,000 applications by 12 pm. 

The scheme will commit to a taxable grant of 80% of average monthly profits over the last three years, based on tax returns filed and the maximum payable will be £2,500 per month, the same maximum as for ‘furloughed’ employees.