Today the Chancellor has announced the continuation of the Self Employed Income Support Scheme (SEISS) for at least until September.
Now there will be 2 additional grants in this scheme bringing the total to 5, the 4th will cover Feb to April and the 5th will cover May till September.
The 1st of these 2 will be similar to the previous grants in that it will be calculated at 80% of 3 months' average trading profits with a cap at £7,500.
The new grants are unique however in the fact that the eligibility criteria has now been relaxed so a near 600,000 people will be now eligible to claim.
This will be available to claim from late April 2021 until the 31st of May 2021 then paid out normally within a week of your claim.
The 2nd will be worth either
- 80% of 3 months’ average trading profits, capped at £7,500, for those with a turnover reduction of 30% or more
- 30% of 3 months’ average trading profits, capped at £2,850, for those with a turnover reduction of less than 30%
More information on claiming this grant will be available closer to the time