As of Monday 17th August, if you are self-employed and your business has been negatively affected by Covid19 and you are eligible, you can claim the second grant which cover 70% of your average monthly trading profits. As with the first SEISS grant this will be paid in a single payment covering 3 months capped at £2,190 a month or £6,570 in total.
Eligibility for the second SEISS – Self Employed Support Grant
Eligibility is the same as for the first grant. More than half of your income needs to come from self employment and you need to confirm that the business has been adversely affected by Covid19 since 14th July 2020.
The scheme is open to those with a trading profit of less than £50,000 in 2018/19, or an average trading profit of less than £50,000 from 2016/17, 2017/18 and 2018/19.
You will need to confirm that your business has been affected by the virus on or after 14 July and you CAN claim even if you missed or chose not to claim for the first grant.
Deadline for the second SEISS – Self Employed Support Grant
You have util the 19th October. to make your claim for the second Self Employed Support Grant SEISS.
Our Covid19 hub is still available to any business that needs accounting support and our team is on hand for bespoke consultations.
Or call 01992 444466 or email firstname.lastname@example.org for help. We look forward to hearing from you.
Latest blogs from HB Accountants
- What have businesses learned from Covid19?
- Covid19: What is happening today – are you aware of the changes?
- Job Retention Bonus – further details announced
- If you are worried you have claimed too much or too little from the Coronavirus Job Retention Scheme
- Are you supporting local businesses?
The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any errors or omission or for any person acting on or refraining from acting on the information provided in the above