Self-Employment Income Support Scheme – Second Grant
HMRC’s second Self-Employment Income Support Scheme grant is opening for eligible people to claim.
This week HMRC are writing to self-employed people who may be eligible. The scheme will open for claims on 17 August and customers have been given a date to make a claim. They can claim any time between their allocated date and the 19 October 2020.
The eligibility criteria for the second grant is exactly the same as the first grant – so self-employed people who were eligible for the first SEISS grant will be eligible for the second grant, so long as their business has been adversely affected since 14 July 2020. This typically means that their business has experienced lower income and / or higher costs because of coronavirus (COVID-19) since 14 July. There is no minimum threshold over which a business’s income, costs or activity need to have changed by, but you will be asked to keep appropriate records as evidence of how their business has been adversely affected.
The second taxable grant is worth 70% of average monthly trading profits, a reduction from the 80% available under the first grant. This will be paid out in a single instalment and will be based on three months’ worth of trading profits and capped at a maximum of £6,570.
Eligible Parents
Self-employed parents whose income may have been affected if they took time out to have children will also now be able to claim if they meet the eligibility criteria. There’s more information for new parents, including an online form on GOV.UK.
As your Agent, we cannot make a claim for on behalf of a client. This is because it will trigger an alert and that leads to delays in payments being issued.
