News

Self Employed Income Support Scheme - 2 New Grants

Today the Chancellor has announced the continuation of the Self Employed Income Support Scheme (SEISS) for at least until September.

Now there will be 2 additional grants in this scheme bringing the total to 5, the 4th will cover Feb to April and the 5th will cover May till September.


The 1st of these 2 will be similar to the previous grants in that it will be calculated at 80% of 3 months' average trading profits with a cap at £7,500.


The new grants are unique however in the fact that the eligibility criteria has now been relaxed so a near 600,000 people will be now eligible to claim.


This will be available to claim from late April 2021 until the 31st of May 2021 then paid out normally within a week of your claim.


The 2nd will be worth either

  • 80% of 3 months’ average trading profits, capped at £7,500, for those with a turnover reduction of 30% or more

  • 30% of 3 months’ average trading profits, capped at £2,850, for those with a turnover reduction of less than 30%

More information on claiming this grant will be available closer to the time


For more details on both of these grants click here