On Friday Rishi Sunak announced that the Self-Employed Income Support Scheme (SEISS) would be extended and those eligible would be able to claim a final grant calculated as 70% of their average monthly trading profits capped at £6,570 in August. Again this will be paid out in a single instalment representing 3 months income.
This announcement was welcomed by many in business, especially since the extension of the furlough scheme. However, the chancellor has said this will be the final time grants will be offered.
Those who still need to apply for the first SEISS grant will have until 13 July 2020 to complete their claim. If you are experiencing any difficulty in completing your claim then please get in touch so that we can help you meet this deadline.
The eligibility criteria for this second SEISS instalment remain the same, and individuals will again need to confirm that they have been adversely affected by coronavirus. It is possible for someone to make a claim to this second grant without having previously claimed the first, for example if they are only now experiencing the adverse effects of coronavirus in their business.
Further guidance is expected on Friday 12 June and we will update you again once this has been published.
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