Extension to the SEISS
We have advised you in previous updates on the Self-Employment Income Support Scheme (SEISS) designed to provide grants to self-employed workers who are ineligible for other support schemes such as the Job Retention Scheme. The Chancellor has now extended the scheme from 1st November 2020 until April 2021.
To be eligible for the grant extension self-employed individuals must:
- currently be eligible for the SEISS (though they do not need to have claimed the grants)
- confirm that they are currently trading and intend to continue to trade
- confirm that they are impacted by reduced demand as a result of coronavirus in the qualifying period - which is from 1st November to the date of the claim
The extension will provide 2 grants each covering a 3 month period. The first, from 1st November 2020 to 31st January 2021, will provide an amount covering 20% of average monthly trading profits for the 3 months and capped at £1875.
The second grant will cover from 1st February 2021 to 30th April 2021 and the level of this grant will be set by HMRC in due course.
All grants are subject to income tax and National Insurance.
HMRC will provide details on how to claim in due course.