Self Employed? Did you know there is another SEISS grant available for you?
Like previously, the government have made another SEISS available to Self Employed people. The third grant, which offers 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500, will be available covering the period from 1 November 2020 to 29 January 2021. Self-employed people who are eligible and in need of support will be able to claim the third grant at any time from 30 November 2020 to 29 January 2021.
Remember, to be eligible for the third SEISS grant you must also:
either be currently trading but are impacted by reduced activity, capacity or demand, or have been previously trading but are temporarily unable to do so due to coronavirus
declare that you intend to continue to trade, and that you reasonably believe that the impact on your business will cause a significant reduction in your trading profits
only claim if the reduction in profits is caused by reduced business activity, capacity or demand, or inability to trade due to coronavirus – reduction in profits due to increased costs (such as having to buy masks) does not count for this purpose.
There will also be a fourth grant (covering the three-month period from February 2021 to April 2021). We’ll tell you more about that nearer the time, including how much it will be and the rules for claiming.
For more information, please follow the link below, which will direct you to the government website; https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension