Self-Employment Income Support Scheme (SEISS) Grant Extension
The grant will be limited to self-employed individuals who are currently eligible for the SEISS and are actively continuing to trade but are facing reduced demand due to COVID-19.
The extension will provide two grants and will last for six months from November 2020 to April 2021. Grants will be paid in two lump sum instalments each covering a three-month period.
The first grant will cover 3 months’ worth of profits from the start of November until the end of January. It will be worth 20% of average monthly profits and will capped at £1,875 in total.
The second grant will cover 3 months’ worth of profits from the start of February until the end of April. HMRC will review the level of the second grant and set this in due course.
The grants are subject to Income Tax & National Insurance Contributions.
Who is Eligible
To be eligible for the grant extension self-employed individuals, including members of partnerships, must:
- currently be eligible for the Self-Employment Income Support Scheme (although they do not have to have claimed the previous grants)
- you traded in the 2018/19 tax year & submitted your tax return on or before 23 April 2020 for that year.
- you traded in the 2019/20 tax year
- declare that they are currently actively trading and intend to continue to trade
- declare that they are impacted by reduced demand due to coronavirus in the qualifying period (the qualifying period for the grant extension is between 1 November and the date of claim)
How To Claim
HMRC will provide full details about claiming in due course
For Government Guidance, please see https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension
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