More support for self-employed and extended deadline for loan applications: 2 November update

There will be increasing support for the self-employed over the coming months and action to ensure people get paid faster than previously planned, Government announced on 2 November.

To reflect the recent changes to the furlough scheme, the UK-wide Self-Employment Income Support Scheme (SEISS) will be made more generous – with self-employed individuals receiving 80% of their average trading profits for November.

Grants will also be paid faster than previously planned – with the claims window opening at the end of November rather than the middle of December.

In addition, more businesses will be able to access additional support, as government loan schemes have been extended to 31 January 2021, while firms can ‘top up’ existing Bounce Back Loans should they need additional finance.

Read more detail here.

There is a downloadable PDF about the financial support for jobs and businesses.