SELF-EMPLOYED workers can now apply for a second emergency coronavirus grant worth up to £6,570.

The cash is to help those who work for themselves if their income has been negatively impacted by the effect of the pandemic.

Under the self-employed income support scheme (SEISS), the Government will cover up to 70 per cent of your trading profits over three months. It’s capped at £2,190 a month so the maximum you will be able to claim in total is £6,570.

The idea is to give businesses some breathing space if they are operating fine now, but start to struggle later on in the year, say in September, when they may be able to still apply for the grant.

You don’t have to repay the grant if you’re eligible, but it will be subject to income tax and self-employed national insurance.

To be eligible, you also must have filed a tax return for 2018/19, meaning you must have been self-employed before April 6, 2019.

The grants are calculated based on an average of your profits over three tax years – 2016/17, 2017/18 and 2018/19.

You must also earn more than half of your total income from self-employment and your trading profit must be less than £50,000 a year to qualify.

Self-employed workers who are company directors or run their businesses as limited companies cannot apply.

The Chancellor listened to concerns raised earlier in the year and extended the support to self-employed businesses, this second payment will be a welcome relief to those applying and will provide a much-needed lifeline and a boost to cash reserves.

The Government has confirmed that both the SEISS and the Job Retention Scheme will both close come the end of October.

However with news of falling employment rates and restrictions still impacting businesses the Treasury may need to rethink their approach and continue supporting those who still need it the most to avoid further job losses and self-employed businesses disappearing, which would be disastrous to the recovery of the UK economy.

For further information on how to claim for the SEISS and eligibility criteria, go to gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme#claim.

If you are looking for more details on the support and guidance available to businesses please visit our Coronavirus Business Support Hub here www.hwchamber.co.uk/support/advice/coronavirus-information.