The second Self-Employment Income Support Scheme (SEISS) grant deadline is 19th October and self-employed people should be aware of its changes and act accordingly.
Self-employed individuals or members of a partnership can claim a taxable grant worth 70% of trading profits up to £2,190 per month for 3 months (totalling up to £6,570).
To help assess the level of support you may be entitled to, Countingup has developed a Coronavirus Grant Calculator which estimates how much you are likely to be eligible for under the scheme.
The deadline for the government’s second grant is 19th October 2020. Please note that any claims need to be made through HMRC – guidance here.
To be eligible you must have:
- Lost trading/partnership profits due to Coronavirus
- Submitted your Income Tax Self Assessment tax return for the tax year 2018-19
- Traded in the tax year 2019-20
- Intentions to continue to trade in 2020-2021
- Self-employed trading profits less than £50,000 (annually)
Check full details of the UK Government’s SEISS scheme final round here - including how to claim and what happens if you have missing trading years or other income streams.