The Self-Employed Income Support Scheme (SEISS) has been extended to provide 2 further grants, each available for a 3-month period covering November 2020 to January 2021 and February 2021 to April 2021.
To be eligible for the additional payment, self-employed individuals, including members of partnerships, must:
- have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
- declare that they intend to continue to trade and either:
- are currently actively trading but are impacted by reduced demand due to coronavirus
- were previously trading but are temporarily unable to do so due to coronavirus
Grants will be paid in 2 lump sums, each covering a 3-month period.
The third grant for the period from 1 November 2020 until 31 January 2021, will provide a payment calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total.
The Government has already announced that there will be a fourth grant covering February 2021 to April 2021. The Government will set out further details, including the level, of the fourth grant in due course.
The grants will be taxable and subject to National Insurance contributions.
How to claim
The online service for the next grant will be available from 30 November 2020. HMRC will provide full details about claiming on GOV.UK in due course.
If you have any questions or need any help regarding eligibility for the Self-Employed Income Support Scheme or making a claim, please contact me.