Self-employed income support scheme
SEISS revision: 22/10/20
The SEISS was originally capped at 20% of profits to a maximum of £1,875. The revision to this support increases the amount of profits covered to 40%, meaning the maximum grant will increase from £1,875 to £3,750.
Third and fourth grants update
Further grants will become available in November and February, capped at 40% of profits to a maximum of £3,750 (this was raised from 20% in a previous announcement).
More information to follow on the fourth grant will be published as soon as it is announced..
The first and second grant applications have now closed.
The government will provide two taxable SEISS grants to support those experiencing reduced demand due to COVID-19 but are continuing to trade, or temporarily cannot trade.
It will be available to anyone who was previously eligible for the SEISS grant one and grant two, and meets the eligibility criteria.
Grants will be paid in two lump sum instalments each covering 3 months. The first grant will cover a three-month period from the start of November 2020 until the end of January 2021. The government will pay a taxable grant which is calculated based on 40% of three months’ average trading profits, paid out in a single instalment and capped at £3,750.
The second grant will cover a three-month period from the start of February until the end of April 2021. The government will review the level of the second grant and set this in due course.