Self-Employed Income Support Scheme (SEISS) Extension

October 21, 2020

The anticipated support for self-employed individuals was announced by the Chancellor some weeks ago. A further extension has now been announced with a further update promised to be released on 12th June.

To help you we have highlighted the key information below:

Key Information:

  • The Self Employed Income Support Scheme will now remain open to cover a second claim for the months of June, July & August.
  • The individual can make the second claim even if they did not make the first one.
  • Individuals who have not yet made the first claim have until 13th July to do so.
  • The claim portal will be open in August in order to make the second claim, no specific date has been provided yet.
  • The second claim will be based upon 70% not 80%, up to £6750 covering the 3 month period.
  • The grant will be taxable and should be reflected in the accounting period that the grant is received in.
  • The criteria for the second claim remains the same as the first.
  • The individual needs to personally make the claim.

The first round of SEISS payments ran smoothly with individuals having little difficulty in making and receiving monies. It is hoped that round two will follow suit.

If you require any further guidance regarding the SEISS, please click here to get in contact with a member of our team.

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