Childminders are among those who will miss out on the Government’s financial support package for the self-employed if they have been working for less than a year.
Businesses set up within the last financial year are not entitled to any support from the Self Employment Income Support Scheme, announced by the Chancellor Rishi Sunak last week. Your self-employed trading profits must also be less than £50,000 and more than half of your income must come from self-employment.
The package of support will not be available until the beginning of June. In the interim, childminding businesses will be able to apply for a business interruption loan, which has been extended to the self-employed and universal credit.
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