SEISS Extension
The Self-Employed Income Support Scheme Grant Extension
The Self-Employed Income Support Scheme (SEISS) was first introduced to assist sole traders and those in a partnership who had been adversely affected by Covid-19.
The SEISS has now been extended to cover two further grants, each covering a three-month period with the first grant covering November 2020 to January 2021 and the second covering February 2021 to April 2021.
The first instalment covering the period from 1st November to 31st January 2021 will cover 40% of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, capped at a total of £3,750. The amount of the second grant covering the period 1st February 2021 to 30th April 2021 has yet to be reviewed by the government.
The grant will be open to self-employed individuals which also includes members of partnerships.
In order to be eligible for the extension of the SEISS you must have been eligible for the first and second grant, however, do not have to have claimed these. To claim you must also declare that you intend to continue to trade and either:
- Are currently actively trading but are impacted by reduced demand due to coronavirus
- Were previously trading but are temporarily unable to do so due to coronavirus
To find out more on the Scheme’s extension, follow this link:
HMRC SEISS grant extension
If you have questions related to the Self-Employed Income Support Scheme please get in contact with us.
Beware of little expenses; a small leak will sink a great ship.
Benjamin Franklin
