Thousands of people have until MIDNIGHT to get £7,500 payment due to coronavirus crisis

The Self Employment Income Support Scheme closes for applications at midnight tonight (Monday, July 13).

While applications will soon be opening for the second and final self-employment grant on August 17, anybody planning to claim the first grant does not have long left to apply.

The first grant is worth 80 percent of monthly trading profits over a three month period, capped at £7,500 in total.

According to the Gov.uk website, if you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work.

The grant does not need to be repaid but will be subject to income tax and self-employed National Insurance.

HMRC will work out if you’re eligible and how much grant you may get.

To make a claim on the gov.uk website, click here.

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