The Self-Employment Income Support Scheme (SEISS)
Posted on September 29, 2020 in Covid Updates
The Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension.
The grant:
- will be limited to self-employed individuals who are currently eligible for the SEISS, and
- who are actively continuing to trade but are facing reduced demand due to COVID-19.
The scheme will last for six months, from November 2020 to April 2021, and will consist of two grants.
The first grant will cover a three-month period from the start of November until the end of January. This initial grant will cover 20% of average monthly trading profits, paid out in a single instalment
covering three months’ worth of profits, and capped at £1,875 in total.
The second grant will cover a three-month period from the start of February until the end of April. The government will review the level of the second grant and set this in due course.
The amount of the first grant under the SEISS grant extension will be significantly less than the grants made under the SEISS. The initial SEISS grant was based on 80% of profits (capped at £7,500)
and the second SEISS grant was based on 70% of profits (capped at £6,570).
How we can help
Further technical details of the schemes will be published by the government but no date has been announced as to when.
Please be assured we will be here to provide you with support and please contact us if you have any queries on the measures announced.
Kind regards
The Team at Blackthorns