Second Self Employment Income Support Scheme (SEISS)

The second Self Employment Income Support Scheme grant is open for eligible people to claim from 17^th August.  The eligibility criteria are the same as before, so you may qualify if:

• You are self-employed or a membership of a partnership
• Your business has been adversely affected by coronavirus
• You traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
• You traded in the tax year 2019 to 2020
• You intend to continue to trade in the tax year 2020 to 2021

This second grant is worth 70% of average monthly trading profits, which is a reduction from the 80% which was available under the first grant, and is capped at a maximum of £6,750. The grant is paid out in a single instalment.

Once the claim has been completed, HMRC aim to make the payment within 6 working days.

For more information about the grant, or to find out whether you are eligible, speak to your local accountant.