30 November 2020 12:36
We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights. Make the most of your money by signing up to our newsletter fornow The Self-Employment Income Support Scheme has undergone many changes since it was brought in back in March. The amount of the third SEISS grant has changed repeatedly, and due to the national lockdown it was decided the third grant will be worth 80 percent of average monthly trading profits. The third grant will cover November 2020 to January 2021 and will be capped at £7,500 in total for the period.
To claim the SEISS third grant, claimants must be self-employed individuals or part of a partnership. To be eligible for SEISS, self-employed people must have traded in both the 2018 to 2019 and the 2019 to 2020 tax years to be eligible, and for 2018 to 2019 a Self Assessment tax return must have been submitted on or before April 23, 2020 for that year. Claimants must be either currently actively trading and impacted by reduced demand due to coronavirus, or have been trading but are temporarily unable to do so due to COVID-19. To apply, self-employed people must also declare their intention to continue trading, and that they reasonably believe there will be a significant reduction in their trading profits. READ MORE: SEISS third grant applications open today– are you ready?