Self Employment Income Support Scheme
Support for the self-employed during COVID-19
The Self Employment Income Support Scheme opens for claims from 17 August for eligible self-employed customers to claim their second and final taxable SEISS grant.
If you were eligible for the first grant and can confirm to HMRC that your business has been adversely affected on or after 14 July 2020, you’ll be able to make a claim for a second and final grant from 17 August 2020.
You can make a claim for the second and final grant if you’re eligible, even if you did not make a claim for the first grant.
HMRC has recently published guidance if you are self-employed and have a new child (or a member of a partnership), and can verify that having a new child affected eligibility for the Self-Employment Income Support Scheme.
How different circumstances affect the Self-Employment Income Support Scheme
The Government has recently updated the guidance on how different circumstances affect the Self-Employment Income Support Scheme.
You can claim for the second grant even if you did not make a claim for the first grant.
The different circumstances that can affect your eligibility include:
- If your tax return is late, amended or under enquiry
- If you’re a member of a partnership
- If having a new child affected the trading profits you reported for the tax year 2018 to 2019
- If you have loans covered by the loan charge and have not agreed a settlement with HMRC before 20 December 2019
- If you claim averaging relief
- If you’re a military reservist
- If you’re non-resident or chose the remittance basis
Find out more information on how different circumstances affect the Self-Employment Income Support Scheme.
Extension of the Self Employment Income Support Scheme Grant
Government will pay an initial taxable grant to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to coronavirus. The initial lump sum will cover three months’ worth of profits for the period from November to the end of January next year. This is worth 20% of average monthly profits, up to a total of £1,875.
An additional second grant, which may be adjusted to respond to changing circumstances, will be available for self-employed individuals to cover the period from February 2021 to the end of April.