Self-Employment Income Support Scheme (SEISS) extended with additional grants

The chancellor has extended the Self-Employed Income Support Scheme (SEISS) again. This will once again provide a taxable grant to those already eligible for the scheme.


The initial lump sum will cover three months’ worth of profits for the period from November to the end of January 2021. This is worth 20% of average monthly profits, up to a total of £1,875.

A further grant, which may be adjusted to respond to changing circumstances, will also be available. This will cover the period from February 2021 to the end of April.


What support is there now?

The Self-Employment Income Support Scheme (SEISS) consists of four taxable Government grants. These are for self-employed individuals whose businesses have been adversely affected by Coronavirus.


There were initially only two grants. But last week, Chancellor Rishi Sunak announced that a third and fourth grant will be rolled out.


This means government support for the self-employed will now extend until 30 April 2021.

The four grants are more or less identical. The only differences are when they're available and how much you can get. The Government has confirmed that the eligibility criteria remains the same (for now). For all the grants, you need to have been adversely affected by coronavirus during the period the grant is running for.


So here's how they work(ed):


Grant #1

When was it available? 

This is now closed, but it was available from 13 May to 13 July 2020.

How much can you get? 

It was worth up to £7,500 in total. This was made up of 80% of three months' worth of average monthly trading profits capped at £2,500/month. 


Grant #2

When is it available? This is currently open but the deadline to apply is 19 October so you've got less than three weeks to go. How much can you get?  It is worth up to £6,570 in total. It is made up of a single payment made up of 70% of three months' worth of average monthly trading profits over three months capped at £2,190 per month. You need to have been adversely affected by coronavirus on or after 14 July 2020 to claim it. 

Grant #3

When is it available? 

It's not open yet, but will cover the period from 1 November until 31 January.

How much can you get?

A lump sum covering 20% of three months' worth of average monthly profits up to a total of £1,875. You will be asked to declare that your business has been impacted between 1 November and the date of your claim.  

Grant #4

When is it available? 

It's not open yet, but will cover the period from 1 February until 30 April.

How much can you get?

The Government has not confirmed the amount or any other details.

If you need support in managing your personal finances during this time, please get in touch with us.

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