- 17th August 2020
- Posted by: Suzy Hill
- Category: Personal Tax, COVID-19 NEWS, Business News
Second round of grants for the self-employed opens
The Self-Employment Income Support Scheme (SEISS) has opened for applications for the second and final grant.
Under the scheme, the government pays self-employed individuals a taxable grant based on an average of their earnings over the past three years.
The grant covers up to 70% of earnings, up to a limit of £2,190 a month.
The eligibility criteria for the second grant are the same as for the first one. To be eligible, self-employed workers must have filed a tax return for the 2018/19 tax year and have average trading profits under £50,000 for the past three years.
The claimant’s business must have been adversely affected by the coronavirus (COVID-19) at any time since 14 July. Both those who claimed the first grant and those who did not are eligible for the second grant. Claims must be made by 19 October.
Detailed guidance about the grants can be found here.
Contact us if you need advice.