URGENT UPDATE: 3.40pm Monday 2nd November – The third SEISS grant for November has just been increased from 40% of your average monthly profits to 80% – December and January 2021 are still currently at 40%
If you are self employed you still have access to two more SEISS grants as part of the Winter Economy Plan with the third SEISS grant for November covering 80% of your average monthly profits.
Guide to SEISS for November 2020 to January 2021
To recap, the third SEISS grant will cover up to 80% of average monthly profits (maximum totals to be confirmed) – the grant covers the time period November 2020. December & January 2021 still currently stand 40%
The deadline for applications has not yet been announced.
The Chancellor originally planned to cover 20% of average monthly profits from November 2020 to January 2021, then 40%.
Will there be a fourth SEISS grant available in 2021?
It is anticipated that there will be a fourth grant covering a percentage of average income spanning February to April 2021, but it is not yet known how much this will cover or when the deadline for applying will be.
What happens if I have seen a reduction in my earning and I cannot meet my mortgage payments?
Mortgage payment holidays have been extended.
Borrowers who have been financially hit by coronavirus and have not yet had a mortgage payment holiday will be entitled to a six-month holiday.
Those who have already started a mortgage payment holiday will be able to top up to six months without this being recorded on their credit file.
We hope this information helps you and we are here for you during this difficult time. We will continue to keep you updated as the Government releases new information. Our business contingency plan is in place and we will do everything we can to support our clients during this uncertain period, please do not hesitate to contact us here if you have any concerns or queries.
Visit our COVID19 Business Hub for more information
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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
