Self-employment Income Support Scheme Extended
Post Author:
Anne Melville
Date Posted:
May 31, 2020
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The Chancellor has announced the extension of the Self Employment Income Support Scheme (SEISS).
Eligible self-employed taxpayers will be able to make a claim for a second and final grant claim in August 2020.
The second grant will amount to 70% of the taxpayer’s average, monthly trading profit over the last three years and will be capped at a total of £6,570.
The eligibility criteria and basis for the calculation of the grant remain as before and the taxpayer will need to confirm that their business has been adversely affected by Coronavirus when applying. An individual does not need to have claimed the first grant in order to be eligible for the second and final grant.
Further information about the second grant will be announced on 12 June 2020.
Note that applications for the first grant opened on 13 May 2020 and will close on 13 July 2020.
https://jsca.co.uk/government-announces-support-for-the-self-employed/
https://jsca.co.uk/get-ready-to-make-your-self-employment-income-support-scheme-seiss-claim/
The information in this blog provides only an overview of HMRC guidance and legislation in force at the date of publication and no action should be taken without consulting the detailed HMRC guidance and legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this blog can be accepted by the firm.
