HMRC webinar: extension to the Self-Employment Income Support Scheme
30 October 2020
As Rishi Sunak revealed that there would be an extension to the Self-Employment Income Support Scheme (SEISS) to help any self-employed individuals or members of partnerships that have been adversely affected by coronavirus through the Winter months, HMRC has published a webinar on the topic to assist anybody intending to make a claim for grants under the scheme.
The webinar will cover:
- How to make a claim under SEISS
- Who is eligible
- The amount that can be claimed
- Other support that may be available
The two additional grants that are being introduced, one of which will cover the period from November 2020 – January 2021, and the other which will relate to February 2021 – April 2021, were announced by the Chancellor within the Winter Economy Plan on 24 September 2020.
Initially, the first additional grant would be to cover 20% of average monthly profits, up to a maximum of £1,875. On 9 October 2020, however, it was announced, that this would be doubled to 40% of average monthly trading profits, which will be paid out in a single instalment and capped at £3,750.
The level of support offered under the second additional grant will be reviewed by the Government in due course.
The online service for the next grant will be available from 14 December 2020.
The information in this article is accurate at the time of publication. For all the latest information, news and resources on how the COVID-19 pandemic is affecting payroll professions, visit our Coronavirus hub.