A second – and final – Self-Employment Income Support Scheme grant is now available. This Government-enabled grant is to help self-employed workers who have been adversely affected by Covid-19.
HM Revenue & Customs (HMRC) is contacting those who may be eligible and will advise a date when they can make a claim. If you have not received a date from HMRC and think you’re eligible for the grant available, you can use the online service to check.
The eligibility criteria are unchanged. So, if you qualified for the first SEISS grant, you will be eligible for the second one. The proviso is that your business must have been adversely impacted by coronavirus on or after 14 July 2020.
Typically, you will have experienced lower income and/or higher costs. You don’t need to state to what extent things have changed, but you should keep records as evidence.
The second SEISS grant is taxable and subject to self-employed National Insurance contributions. It is worth 70% of average monthly trading profits. Based on three months’ worth of trading profits, the grant will be capped at a maximum of £6,570.
You can claim the second SEISS grant online via your Government Gateway account. It will be paid as a single amount directly into your bank account within six working days. You can apply for the second grant, if eligible, even if you didn’t claim the first one. The window for applications closes on 19 October 2020.
Self-employed people whose income has been affected because they took time out to have children can now claim. However, they must meet the eligibility criteria. Further information for new parents, including an online form, is available on GOV.UK
Full information about the grant available is available at: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
New webinars and a short video on HMRC’s YouTube channel outline how the process works.
You must claim the grant yourself; we are not permitted to make a claim on behalf of clients. But we’re here to help. For advice call us on 01785 243276.
Remember to read our advice on protecting yourself against an adverse claim.