Second round of SEISS grants now open02/10/2020
If you are self-employed, then you should be aware that the government has now reopened its Self-Employed Income Support Scheme (SEISS) for applications. This will be the scheme’s second and final round of grants.
Under SEISS, the government pays self-employed workers a taxable grant based on their earnings over the past three years. The value of the grant is calculated as 70% of earnings, and has a maximum limit of £2,190 per month.
Applications are open both to people that claimed during the first round of SEISS grants, and those that didn’t. If you wish to apply for a grant, you must fulfil three eligibility criteria: to be self-employed; to have filed a tax return for 2018/19; and to have recorded average trading profits of £50,000 or less over the previous three years.
In addition to the above, all those who request a grant must, of course, be able to show that COVID-19 has negatively impacted their business between July 14th 2020 and the present. The closing date for applications is October 19th2020 – so, if you’re hoping to receive a grant, don’t delay your application.
At JW Hinks, our friendly and professional team of experienced accountants can guide you through the SEISS grants application process. Give us a call on 0121 456 0190 to find out how we can help.