Applications for the second self-employed income support scheme (SEISS) grant opened on 17 August.
If you are self-employed and your business has been adversely affected by the COVID-19 pandemic on or after 14 July 2020 you can apply for the grant as long as you meet the following criteria:
• your self-employed profits make up at least half of your average annual income;
• you started your business before 6 April 2019;
• you submitted your 2018-19 tax return before 23 April 2020; and
• your average annual self-employed profits for 2016-17 to 2018-19 were no more than £50,000.
The grant will be paid at the rate of 70% of your average annual profits for 2016-17 to 2018-19, capped at £6,570 for a three-month period.
If you missed applying for the first SEISS grant between 13 May and 13 July 2020 you can still apply for the second grant. Unfortunately we cannot do this on your behalf; you need to go to the gov.uk website and search for ‘claim SEISS’.
You will need your:
• national insurance number;
• self assessment UTR number;
• government gateway ID and password (this can be applied for at stage 1 of the grant application); and
• bank account number and sort code for the account you would like the grant paid into.
This will be the final SEISS grant and applications will close on 19 October 2020.
This article is written for the general interest of our clients and is not a substitute for consulting the relevant legislation or taking professional advice. The authors and the firm cannot accept any responsibility for loss arising from any person acting or refraining from acting on the basis of the material included herein.
