Just a week to go until the start of next Self Employment Income Support Scheme Grant (SEISS) payments.
The first payment will be paid to those who are currently eligible for the Self Employment Income Support Scheme. They must continue trading, despite reduced sales due to the crisis.
This lump sum grant will be calculated on profits earned during 1st November 2020 to 31st January 2021. The grant will be worth 80% of that 3 months average monthly trading profits, up to a maximum of £7,500.
The second grant will be available for February 2021 to the end of April 2021. The calculation may be altered in light of changing economic circumstances.
The grants are taxable and subject to National Insurance contributions.
HMRC will set up an online service for claims. Grants will be available from 30th November.
Get in touch if you need help with this grant or any other aspect of your business finances.