Second Stage of Self Employment Income Support Scheme (SEISS) Opens Today
The eligibility criteria for the second grant is exactly the same as the first grant – so self-employed people who were eligible for the first SEISS grant will be eligible for the second grant, so long as their business has been adversely affected since 14 July 2020.
This typically means a business has experienced lower income and / or higher costs because of coronavirus (COVID-19) since 14 July.
There is no minimum threshold over which a business’s income, costs or activity need to have changed by, but you will be asked to keep appropriate records as evidence of how your business has been adversely affected.
The second taxable grant is worth 70% of average monthly trading profits, a reduction from the 80% available under the first grant. This will be paid out in a single instalment and will be based on three months’ worth of trading profits and capped at a maximum of £6,570.
Self-employed parents whose income may have been affected if they took time out to have children will also now be able to claim if they meet the eligibility criteria. There’s more information for new parents, including an online form on GOV.UK
If you can apply online, this is the quickest and easiest way to claim.
It takes most people less than 5 mins to claim online using their Government Gateway account. There are also new webinars and a short video on HMRC’s YouTube channel that you or your clients can use to ensure you know how the process works.
Once you have completed a claim, you will receive the payment within 6 working days.
Eligible customers will be informed that they will be able to make their claim for the second and final grant at any time from a specified date, until the scheme closes on 19 October 2020.
For full Government Guidance, full eligibility criteria and how to claim , please see https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
Also follow us for further updates on: