Government's self-employment support scheme extended – what you need to know

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The Government's Self-Employment Income Support Scheme will be extended and will pay out another single grant covering three months, the Chancellor has announced today. He also said this will be the final grant from the self-employment scheme.

Those eligible for the Self-Employment Income Support Scheme (SEISS) will be able to claim the additional grant in August, which will be worth up to 70% of their average monthly trading profits, though it's capped at £6,570 overall. The money will again be paid out in a single instalment covering June, July and August.

You can read full details on how the changes will work below.

Not sure what the self-employment support scheme is, or whether you're eligible? See our Coronavirus Self-Employed & Small Limited Company Help guide for full information.

Watch: Martin's view

Before you get into the full detail below, here's MSE founder Martin Lewis's analysis of today's announcement: