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COVID-19. Extension to the SEISS, Government support for the Self Employed.

Details of the extension to SEISS

6 Jan 2020

The Government provided details of the extension of the Self Employed Scheme at the same time as announcing the update to the Coronavirus Job Retention Scheme from 1 July 2020.

The key changes to the SEISS to note are:

  • Individuals can continue to apply for the first SEISS grant until 13 July. Under this first grant, eligible individuals can claim a taxable grant worth 80% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £7,500 in total. Approved claims will result in the money paid into eligible individuals’ bank accounts within six working days of completing the claim.
  • Applications for the second grant will open in August. The taxable grant will be worth 70% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of trading profits and capped at £6,570 in total.
  • The criteria for both grants is the same and individuals will need to confirm that their business have been adversely affected by COVID-19 in this later phase.

Detailed guidance will be provided on Friday 12 June; we will be releasing a further update once this announcement has been made.

Meanwhile if you have any questions on SEIS please contact us

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