The government will support self-employed people adversely affected by COVID-19 with a grant - which will be available for anyone with trading profits up to £50,000.
The relief package covers 80% of self-employed workers' average monthly earnings over the last three years up to £2,500 per month.
95% of majority self-employed people will qualify, and HMRC will pay grants directly into bank accounts before June.
Chancellor Rishi Sunak announced the support package on Thursday, with pressure growing on the government in the past few days to provide financial aid for freelancers and contractors.
"I know many self-employed people are anxious to see what support is available for them.
"You have not been forgotten. We will not leave you behind. We all stand together."
He added: "This is one of the most generous support schemes anywhere in the world."
The Chancellor last week confirmed the UK government would cover wages for company staff up to £2,500 a month.
Sunak explained that creating financial support for the 4.8 million self-employed has taken longer to arrive due to the process proving "incredibly complicated."
The new scheme will be open to those already self-employed and have a self-assessment tax return for 2019.
Almost 10,0000 in the UK have been infected with COVID-19, with 477 deaths as of Thursday 26 March.