Two final lump sums will be available to the self-employed who are still experiencing the adverse effects of the coronavirus. To qualify you must:
- Currently be eligible for the SEISS (even if you have not claimed the earlier grants)
- Declare that you are actively trading and that there is an intention to continue to trade
- Declare that you are still impacted by coronavirus and suffering reduced demand for the claim period
The first grant will be from 1 November 2020 and the second grant will cover the 3 month period from 1 February 2021.
The first grant will be similar to previous grants but at a reduced level of 20% paid in a single lump sum covering the 3 month period and will be capped at £1,875.
The government have yet to confirm the percentage for the second grant.
The chancellor stated that the grant is expected to provide broadly the same level of support to the self-employed as those employers that will be able to access the new job support scheme to supplement employees’ wages.
As with the previous SEISS grants they are subject to tax and national insurance.
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