Second and final grant under SEISS

The government has recently announced that those self-employed people eligible for the Self-employment Income Support Scheme (SEISS) will receive a second and final grant. This will be based on 70% of earnings and will be capped at £6,570.

With applications opening in August 2020, the eligibility criteria for this further grant will be the same as previously advised; being a self-employed individual or a member of a partnership to whom all of the following apply:

• Traded in the tax year 2018 to 2019 and Self Assessment tax return submitted on or before 23 April 2020 for that year
• Traded in the tax year 2019 to 2020
• Intend to continue to trade in the tax year 2020 to 2021
• Carry on a trade which has been adversely affected by coronavirus

Further guidance is expected from HMRC on 12 June.

For additional information on the Self-employment Income Support Scheme, please click here.

About the Author

Alison Henshaw

Partner

 Alison joined Torgersens in 1996 and has been a partner with the firm since 2015. With broad experience in general practice, Alison is involved in the audits and accounts management of a range of clients including small and medium sized owner-managed companies, charities and not-for-profit organisations. Most recently, she has worked with a high-profile regional charity to develop its financial systems and reporting structures. Outside of work Alison likes spending time with her family enjoying walks along the North East coast line as well as regular visits to the Lake District, Northumberland and North Scotland.

To get in touch please e-mail alison.henshaw@torgersens.com.