The Self-Employment Income Support Scheme (SEISS) grant has now been extended to provide 2 further grants. Each grant covers two three-month periods, covering November 2020 to January 2021 and February 2021 to April 2021.
Will you be eligible for the grant?
To be eligible for the grant extension Self-Employed individuals (including partners of a partnership) must meet the below criteria:
- Have been previously eligible for the Self-Employment Income Support Scheme first and second grant (you do not have to have claimed the previous grants).
- Declare that you intend to continue to trade.
- Declare that you are either currently trading but are impacted by reduced demand OR you have previously trading but are temporarily unable to do so due to Coronavirus.
How will the grants be calculated?
The third grant will be a taxable grant calculated at 80% of 3 months average monthly trading profits, paid out in one single instalment and capped at £7,500.
The fourth grant will cover February 2021 to April 2021 but it has not been confirmed at what level this will be paid out at.
For further details on the original criteria of the SEISS grant, please click here.
When can you claim?
The third grant will be open to be claimed from 30 November 2020.