Self-Employment Income Support Scheme update – first grant claim deadline 13 July

Claims for the first SEISS grant, which opened on 13‌‌ May, must be made no later than 13‌‌ July. Eligible self-employed people must make a claim before that date to receive the first SEISS grant.  As a reminder this is a taxable grant of 80% of an average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.

The Chancellor has now announced plans to extend the Self-Employment Income Support Scheme (SEISS) for those people whose trade continues to be, or is newly, adversely affected by COVID-19 (coronavirus). Eligible self-employed people will be able to claim a second and final SEISS grant in August; this will be a taxable grant worth 70% of their average monthly trading profits for three months, paid out in a single instalment and capped at £6,570 in total.

The eligibility criteria for the second grant will be the same as for the first grant although people do not need to have claimed the first grant to claim the second grant if their trade had not previously been adversely affected.

As was the case with the first SEISS grant, the eligible individual must make the claim themselves, agents cannot submit claims on their behalf.

More information about the second SEISS grant will be released on 12‌‌ June.

If you are self-employed people and may have been be eligible for an SEISS grant from March onwards you must apply for the first grant amount before 13‌‌ July.

The Mercer & Hole team are here to support you and your business.