Key dates for your diary

June furlough claims deadline – 31 July

Any claim for furlough grants relating to the period ended 30 June must be submitted by 31 July 2020.  Only a few days left to get those claims in if you have not already done so.

Self Employed Income Support Scheme (SEISS) – second grant claims online service

The SEISS scheme has been extended. The scheme allows you to claim a second and final taxable grant worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £6,570 in total.

You will be able to claim a second (and final) grant from 17 August 2020.  To make a claim you must be able to confirm that your business has been adversely affected by Covid-19 on or after 14 July 2020. As with the first grant HMRC will contact you if you’re eligible and will work out your eligibility for the second grant in the same way as the first grant.  Your agent will be able to help you to check whether or not you can claim and the quantum advised by HMRC but cannot make the claim for you.

However, you can still make a claim for the second grant, even if you did not make a claim for the first grant provided you meet the eligibility criteria. For more details on eligibility and examples of what constitutes ‘adversely affected’ please see the attached link HMRC guidance on SEISS

Please remember that all grants received under the furlough scheme and the SEISS scheme are fully taxable.