COVID support schemes are ending, find out what is continuing

The SEISS fifth grant period ends today as does the furlough scheme, with employers having until 14 October to submit a claim for the latter – as does the VAT reduction for hospitality and tourism to 5%, which will see an increase to 12.5

The ICAEW have issued a handy timeline for the remaining schemes.

Two forms of data are shown in the chart: how much money has been spent or lent on each scheme so far, and each scheme’s end date.

The chart does not include all of the support measures provided by the government or the Bank of England to businesses and individuals, for example the £20 a week uplift in universal credit to those on low incomes that also comes to an end on 30 September or the corporate finance lending facilities provided by the Bank of England to very large businesses.

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SEISS 5 grant applications to open in late July (Self-Employment Income Support Scheme)

Applications for the fifth round of the self-employed income support scheme grant (SEISS 5) are due to open in late July. SEISS 5 covers the period May 2021 to September 2021 and eligibility is based on your tax returns. Am I eligible? How much will I receive?

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If you haven’t claimed the third SEISS grant, the deadline for applications is fast approaching

Gov.UK have confirmed a fourth SEISS grant, which will run from February 2021 to April 2021, will be available for self-employed workers. Unfortunately, the Government is yet to provide further details about who can claim and how much help you can get under the fourth grant.

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Two further SEISS Grants available for sole traders whose business has been negatively affected by Covid19

The Self-Employment Income Support Scheme grant extension provides critical support to the self-employed in the form of 2 further grants, each available for 3 month periods. Grant 3 covering November 2020 to January 2021 and Grant 4 February 2021 to April 2021.

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Lockdown 2.0 SEISS: What support is there if I am self-employed?

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.

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Covid19 Update: Claims are open for second self employed support grant SEISS – are you eligible?

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.

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