The Self-Employment Income Support Scheme (SEISS) Grant Extension provides support to the self-employed in the form of two grants, each available for three month periods covering November 2020 to January 2021, then February 2021 to April 2021.
Who can claim
To be eligible for the extension, self-employed individual including members of partnerships must:
- have been previously eligible for the Self-Employment Income Support Scheme (SEISS) first and second grant (although you do not have to have claimed)
- declare that you intend to continue to trade, and either:
- are actively trading but impacted by reduced demand due to coronavirus
- were previously trading but temporarily unable to do so due to coronavirus
What the Grant Extension covers
The extension will last from November 2020 to April 2021. Grants will be paid in two lump sum instalments covering three-month periods.
The first grant will cover the three-month period from 1st November 2020 until 31st January 2021. The Government will provide a taxable grant covering 55% of average monthly trading profits, paid out in a single instalment capped at £5,160.
The grant will be increased from the previously announced level of 40% of trading profits to 80% for November 2020 (then 40% in December and January). This increases the total level of the grant from 40% to 55% of trading profits for 1st November 2020 to 31st January 2020.
The second grant will cover a three-month period from 1st February 2021 until 30th April 2021. The level of the second grant will be set in due course by the government.
The grants are a taxable income and also subject to National Insurance contributions.
How to claim
The online service for the next grant will be available from the 30th November 2020.