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Self Employed Income Support Scheme Extended

Posted 11 Nov, 2020

The policy paper on the extension of the SEISS is available HERE

The key eligibility criteria are that you

  • have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although you do not have to have claimed the previous grants)
  • declare that you intend to continue to trade and either
    • are currently actively trading but are impacted by reduced demand due to coronavirus
    • were previously trading but are temporarily unable to do so due to coronavirus

The extension will last for 6 months, from November 2020 to April 2021. Grants, which are taxable, will be paid in 2 lump sum instalments each covering a 3 month period. The third grant will cover a 3 month period from 1 November 2020 until 31 January 2021 and will be calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total.