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.
The information provided in this blog is for general informational purposes only and should not be considered professional advice. As far as we are aware, the content is accurate at time of publication. Torgersens assumes no responsibility for errors or omissions in the content or for any actions taken based on the information provided.
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