The Self Employed Income Support Scheme (SEISS) has been extended to cover a further period of three months.
The second payment, which will be the final one under the SEISS scheme, is to be capped at £6,570.
The second grant will open for applications in August, and will cover up to 70% of self-employed average trading profits.
As before, the payment for the three-month grant will be made in one payment.
The claim for the second grant is separate to that of the first grant – so you may be able to apply for both or one only depending on whether you meet the tests for both or for one.
This is particularly useful for self-employed people who initially were not affected by the coronavirus situation, but due to the ongoing issues now are.
As before, in order to claim, you have to meet the below tests:
- You must have submitted your tax return for the 2018/19 tax year
- Have traded in the tax year 2019/20
- Are still trading when you apply, or would have been except for the coronavirus situation
- You intend to continue to trade in the tax year 2020/21
- You have lost trading profits due to the coronavirus situation
More information on the second and final SEISS grant is to be made available on 12th June.
Applications for the first SEISS grant close on the 13th July, so if you meet the conditions for the first grant and have not applied yet you should do so.