Self-employment Income Support Scheme (SEIS) – Second Grant
HMRC have updated on their website that the SEIS is being extended. If you’re eligible for the second and final grant, and your business has been adversely affected on or after 14 July 2020. You can make a claim in August 2020.
This grant will be a taxable grant worth 70% of your average monthly trading profits, paid out in a single instalment covering a further 3 months’ worth of profits, and capped at £6,570.
You can claim if you’re a self-employed individual or a member of a partnership and have traded in tax years 2018-19, 2019-20 to present day.
Your business has been adversely affected by coronavirus due to:
- you’re unable to work because you:
- are shielding
- are self-isolating
- are on sick leave because of coronavirus
- have caring responsibilities because of coronavirus
- you’ve had to scale down or temporarily stop trading because:
- your supply chain has been interrupted
- you have fewer or no customers or clients
- your staff are unable to come in to work
How to apply
https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference
Get other financial support
The government is also providing the following help for the self-employed:
- Universal Credit
- Deferral of Self Assessment Income Tax and VAT payments
- Grants for businesses that pay little or no business rates
- Business Interruption Loan Scheme
- Bounce Back Loan
- Coronavirus Job Retention Scheme, if you have other employment as a director or employee paid through PAYE.
For further information please got to https://www.gov.uk/coronavirus
Source HMRC