HMRC webinar: Self-Employment Income Support Scheme
14 August 2020
As those who wish to make a claim for a second grant through the Self-Employment Income Support Scheme (SEISS) can do so from 17 August 2020, HMRC is running a number of webinars to help support individuals through the process.
The webinar will assist in the following areas:
- Explaining how to claim the second grant under the SEISS
- Establishing who is eligible
- Establishing the amount that can be claimed
- Detailing what other support is available
This second grant is the final one that can be claimed under SEISS, and the scheme will close on 19 October 2020, so claims need to be submitted prior to that date.
The eligibility criteria remains unchanged from that of the first grant, but self-employed people must be able to demonstrate that their business has been adversely impacted (experienced lower income and / or incurred higher costs) by the outbreak of coronavirus since 14 July 2020. Businesses must keep evidence of how they have been negatively affected.
The second taxable grant is worth 70% of average monthly trading profits, as opposed to 80% under the first grant. In line with the first grant, it will be paid in one single instalment, but capped at a maximum of £6,750.
Any self-employed parents who may have had time off to have children may also be able to claim if they meet other eligibility criteria. More information is available online.
Agents and advisers cannot submit claims on behalf of their clients. The quickest way for clients to claim is online and this takes the majority of people less than five minutes, using their Government Gateway account. When a claim has been successfully completed, money will be paid out within six working days.
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.