Financial help for self-employed and freelancers
If you’re a freelancer or self-employed, you may be feeling anxious at the moment. If coronavirus affects your work or business then we’ll direct you to the financial help you can get to tide you over. Maybe you’ve had to temporarily close your business, or you’ve lost some or all of your work or customers.
Many of us are used to our money going up and down, but this is different and so much of it feels outside our control. We completely get it. That’s why we put together these details of the financial help available to freelancers and self-employed people.
Last updated: 1 November 2020
This page is specifically financial help for self-employed people and freelancers affected by coronavirus. If you are an employee, or you have general questions about where to get money help, this guide is for you.
Find out what help you can get
What financial help for self-employed and freelancers you can get depends on whether you run your business as a sole trader, or a partner in a partnership, or through a limited company.
Find out about the Self-employed Income Support Scheme:
If you are a sole trader, or a partner in a partnership, then you may be able to get a grant from the government. It works out your average monthly profits over the past 3 years. Then pays you 80% of that monthly amount, up to £2,500.
You can get it for a maximum of 3 months (so the max you could get would be £7,500) and pays you the whole amount in June.
Unfortunately, if you are a director of a limited company, you can’t get this grant.
Do you run your business through your own limited company?
Sadly, that means that you can’t use the Self-employed Income Support Scheme grant.
Instead, you’ll need to look at the governments other support, including:
- the Coronavirus Business Support Loan
- Universal Credit
- business rates relief and other benefits.
If you’re worried about paying your mortgage, rent or other bills
Like a lot of us, you might be wondering how you’ll be able to pay your mortgage, or cover your rent or other expenses. Whether that is for your business, or personally.
We’ve got a whole separate guide on what you can do to reduce your bills for the next few months.