Chartered Accountants

SEISS Grant Extension

The government is continuing its support for millions of self-employed individuals by extending the Self-Employment Income Support Scheme (SEISS) grant. Self-employed individuals and members of partnerships who are eligible for the SEISS and are actively continuing trading but are experiencing reduced demand due to coronavirus (COVID-19), will be eligible for a further SEISS grant to provide support over the winter months.

The first grant will cover a three-month period from the start of November 2020 until the end of January 2021. It will be a taxable grant to cover 20% of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £1,875 in total.

An additional second grant, which may be adjusted to respond to changing circumstances, will be available for self-employed individuals to cover the period from February to the end of April – ensuring our support continues right through to next year.

For further information please go to the following link: https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

 

Jon Essam and Co Ltd are a Xero online accounting Certified Advisor

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