Self-employed income support scheme (SEISS)
The SEISS will also be extended to September 2021. A fourth SEISS grant will run from 1 February to 30 April, worth 80% of three months’ average profits (capped at £7,500). This grant will be claimable from late April.
A fifth grant, claimable from late July, will cover the period May to September. It will be worth 80% of three months’ average profits where the claimant’s turnover has dropped by 30% or more. Where the fall in turnover is less, the grant will be limited to 30% of profits (capped at £2,850). Eligibility for both grants will be extended to include those who were self-employed in 2019/20 and who have filed a tax return for that year.
Remember that any SEISS grants which you claim will form part of your taxable income in the tax year in which they are received, so it is important that you tell us about any grants received when you send your accounts and tax information to us.