Self-Employed Income Support Scheme 2

Self-Employed Income Support Scheme (SEISS)
– Update 18 June 2020

The scheme currently allows you to claim a taxable grant worth 80% of your average monthly trading profits.  This will be paid out in a single instalment covering 3 months’ worth of profits.  The amount is capped at £7,500 in total.

If you are eligible and want to claim the first grant you must make your claim on or before 13 July 2020.

HMRC have updated their guidance on the SEISS and the scheme has now been extended.

You will be able to make a claim for a second and final grant in August 2020.

If you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work.

The grant does not need to be repaid but will be subject to Income Tax and self-employed National Insurance.

HMRC will work out if you are eligible and how much you may get.

You can use the links below to help you understand how HMRC will do this, as well as what you can do now.

  1. Find out who can claim
  2. Check if you’re eligible and check the date you can claim from
  3. Find out how HMRC works out your grant
  4. Make your claim
  5. Find out when you’ll get the money paid into your bank and how to record the grant.

For further guidance and to arrange to speak to a Paperweight Caseworker, please call Paperweight on 020 8455 4996 or e-mail info@paperweight.org.uk

 

1