The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether. This is a temporary scheme, but it may be extended.
If you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work, or duties as an armed forces reservist.
The grant does not need to be repaid but will be subject to Income Tax and self-employed National Insurance.
There is other support available if you’re not eligible for the grant.
HMRC will work out if you’re eligible and how much grant you may get. But you can follow these steps to help you understand how we will do this and what you can do now.
For further information please visit GOV.UK, remember a member of the Antrec team is on hand should you have any questions or require support. You can call us on 0333 023 7450.