Self-Employment Income Support Scheme (SEISS) updates

15 June 2020

A second and final grant will be made available to the self-employed under the Self-Employment Income Support Scheme (SEISS), and claims can be made in relation to this in August 2020. The eligibility criteria remains unchanged from that of the first grant, and individuals making a claim for the second grant will need to confirm that their business has been adversely affected by the outbreak of coronavirus on, or after, 14 July 2020.

Unlike the previous grant, which paid 80% of average monthly trading profits, up to a cap of £7,500 for a three-month period, the second grant will be for a taxable grant worth 70% of an individual’s average monthly trading profits. This will be paid out in a single instalment to cover a further three months’ worth of profits, which will be capped at £6,570 in total.

Individuals are able to make a claim for the second grant even if they did not claim for the first grant. Applications for the first grant must be made by 13 July 2020 at the very latest.

The online service through which to make a claim for the second grant has not yet been established but guidance will be updated as soon as it is made available.

In response to the fact that many questions were raised around the issue of what a business being ‘adversely affected’ by coronavirus looked like, in relation to the SEISS, HMRC has published a table of examples to show where individuals would be deemed as being adversely affected for the first grant, or second grant, and, in some scenarios, for both.

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.