Self Employed Income Support Scheme update

Coronavirus, Sole Trader,

As I mentioned yesterday, as part of the announcements around Lockdown 2.0, we hoped that there would be an amendment to the Self Employed Income Support Scheme (SEISS).

This has now happened.

The grant for November has been increased to 80% of trading profits, rather than the previously announced 40%.

This will increase the taxable grant for the three month period this one will cover, to 55% of the average monthly trading profits.

It’ll be paid in a single instalment, capped at £5,160 in total. This grant was due to be available in December, but will now be available by the 30th November.

A second grant will cover a three month period from 1st February 2021 until 30th April 2021. At the moment we don’t know at what level this one will be calculated.

We would expect the claim process to be similar to the process for the two grants provided earlier in the year, but will let you know when we hear any more.

 

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