Chancellor unveils self-employed income support plan

‘Comprehensive, coordinated and comprehensive’

Adam Saville
clock • 1 min read

Government offers taxable grant to cover 80% of income for self-employed during COVID-19

People who make the majority of their earnings through self-employment are to be allocated the same amount of financial support as the employed population, Chancellor Rishi Sunak has announced. The self-employed income support scheme, which Mr Sunak described as "one of the most generous schemes in the world", will be based on earnings over the past three years and will be capped at £2,500 a month. It will cover those who earn trading profits of up to £50,000 and will run for a minimum of three months. Payments aren't expected until June. The Chancellor expects that 95% of the self...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

IPT set for another record year

IPT set for another record year

Taxation hits £6.78bn in FY25/26

Cameron Roberts
clock 19 December 2025 • 2 min read
Strong year predicted for IHT receipts

Strong year predicted for IHT receipts

£5.8bn for first eight months of 2025/26

Jen Frost
clock 19 December 2025 • 2 min read
FCA responds to Which? super complaint

FCA responds to Which? super complaint

Expansion of insurance work in 2026

Cameron Roberts
clock 18 December 2025 • 2 min read