It has already been announced that the Self Employed Income Support Scheme has been extended and that a second claim can be made in August. When HMRC issued updated guidance around the new Flexible Furlough scheme on Friday 12th June, they also confirmed the following for the Self Employed Income Support Scheme:
- The second and final grant will be available in August 2020.
- Eligibility will be calculated in the same way as the first grant.
- To claim under the second grant, your business must have been adversely affected by Coronavirus on or after 14th July 2020.
- The grant will be for a lower amount than the first, being 70% of the average monthly profits, and will be paid in a single instalment covering three months of profits. The upper limit for the grant will be £6,750.
- You can claim for the second and final grant, regardless of whether you claimed for the first.
The online claim portal for the second grant is not available yet.
There are three ways to ensure you find out as soon as the portal becomes available:
- Watch the HMRC Guidance; they will update this page when the claim portal is available.
- Sign up for email alerts for any changes to the above page by following this link.
- Make sure you’re registered to receive our updates (use the form below if you need to!) and we’ll let you know as soon as there’s any news.
As ever, if you’re unsure or concerned in any way about making your claim, please get in touch. We cannot submit your claim for you, but are very happy to talk you through the process.