Applications Open for Second Self-employed Support Grants
The Government’s coronavirus support scheme for the self-employed has opened for a second and final batch of claims. Individuals or members of partnerships whose business has been adversely affected by COVID-19 can now apply for a Self-Employment Income Support Scheme (SEISS) grant worth 70% of their average monthly trading profits.
Millions are expected to benefit from the scheme, with payments – to be paid in a single instalment covering three months’ worth of profits and capped at £6,570 – expected to appear in bank accounts within six working days of each claim.
Applicants from across the UK are eligible if their business has been adversely affected by coronavirus on or after 14 July 2020, they traded in the tax year 2019 to 2020, intend to continue trading, and they:
Have trading profits of no more than £50,000 per year.
Traded in the tax year 2018 to 2019 and submitted their Self Assessment tax return on or before 23 April 2020 for that year.
HMRC will calculate the amount to be paid to each eligible claimant based on an average of the tax returns for 2016/17, 2017/18 and 2018/19.
Applications for the second and final grant are now open. Applicants must make a claim on or before 19 October 2020.
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