Coronavirus: Self-Employment Income Support Scheme (SEISS)
HMRC’s claims portal for the second grant opens in August 2020.
At a glance - support for the self-employed during the coronavirus crisis:
Two separate taxable grants are claimable:
- First grant for the period ending 13 July 2020.
- Second grant for the period from 14 July 2020.
The grant payable is the lower of:
- £7,500 (if claiming for the first grant),
- or £6,570 (if claiming for the second grant) and
80% of your average monthly profits over the three years 2016/17, 2017/18 and 2018/19* for the first three months, reducing to 70% of the same average profits for the second three months.
The grant is available to self-employed individuals:
- The grant was initially capped for three months and has subsequently been extended.
- With trading profits up to £50,000 per year whose majority of income comes from being self-employed.
- Who have been adversely affected by the coronavirus crisis.
- If you receive the grant you can continue to work or take on other employment including voluntary work.
- You do not have to have claimed the first grant to be able to claim the second.
Claims for the first three months commenced on 13 May 2020, with the first payments arriving from 25 May 2020 and within 6 working days of claims being made.
The deadline for claiming under the first round is 13 July 2020. Claims for the second round of grants at the lower rate may be made in August. See How to claim under the SEISS.
Note again that: Company directors are employees for PAYE purposes and not self-employed.
