You may have noticed that on the 29th May the Chancellor announced a second and final grant to the self- employed who are eligible for Self Employed Income Support.
HMRC has confirmed the same eligibility criteria will be used to establish self-employed individuals’ entitlement to a further SEISS grant.
I include a link below to our previous blog on the eligibility requirements.
When claiming the second grant you will have to confirm that you meet the eligibility criteria, in particular that your business has been adversely affected by coronavirus.
The second grant will be for 70% rather than 80% of average monthly trading profits and the maximum amount will be capped at £6,570, down from the £7,500 for the first grant. The claim will be paid out in one installment covering three months’ worth of trading profits.
Applications will open in August and HMRC expect to publish further guidance on the 12th June.
Once I have further details I will of course update you.
First Grant claim period
The Chancellor also announced that the claim period for the first 3 months (March to May) will close on the 13th of July. So if you haven’t claimed please make sure you do.
If you have any queries in regards to the above please get in touch.