The COVID-19 pandemic has affected the livelihoods of millions of self-employed people. However as the UK government continues to help drive the UK’s recovery, self-employed people will be able to claim a second payment of up to £6,570 from today under the Self Employment Income Support Scheme (SEISS).
• the second stage of Self Employment Income Support Scheme (SEISS) opens for applications today
• Businesses eligible will receive a government grant worth up to £6,570
• over 2.7 million people have already made claims under this scheme, receiving £7.8 billion.
The scheme states that all eligible businesses will now be able to receive a second and what is considered to be the final grant. The amount that would be received by an applicant (subject to the claim be approved) would be equal to 70% of their average monthly trading profits. Upon successful submission of the claim under SEISS, the money would be received in their bank accounts within six working days.
Anyone whose self-employed business has been adversely affected by coronavirus since 14 July is eligible for the scheme. HMRC will contact all potentially eligible customers to advise them that they can claim for a second and final SEISS grant.
The eligibility criteria remain the same as for the first grant, with people needing to have had trading profits of no more than £50,000, making up at least half of their total income.
The SEISS is part of a comprehensive package of support for self-employed people, including Bounce Back loans, income tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays and the various business support schemes the government has introduced to protect businesses during this time.
The Chancellor has also set out the government’s Plan for Jobs to support, protect and create jobs up and down the country- including in the construction and housing sectors through funding to decarbonise public sector buildings and our Green Homes Grant.
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