Are you eligible for further self-employed grants?

Two quarterly grants have been paid to UK self-employed traders that qualify for the Self- Employed Income Support Scheme (SEISS). These covered the periods up to 31 October 2020.

The Chancellor has announced that two further quarterly payments will be made. Traders will still need to qualify for the payments and in particular:

  • Have been previously been eligible for the SEISS first and second grant (although they do not have to have claimed the previous grants)
  • Declare that they intend to continue to trade and either:
    • are currently actively trading but are impacted by reduced demand due to coronavirus
    • were previously trading but are temporarily unable to do so due to coronavirus

If these conditions are confirmed then a claim can be made for the following periods:

Quarter 1 November 2020 to 31 January 2021

The maximum that can be claimed for this period is 80% of average, qualifying quarterly earnings capped at £7,500. This is an increase on the previously announced amount of 55%.

The online portal to make a claim will open 30 November 2020 and payments should be received before Christmas.

Quarter 1 February 2021 to 30 April 2021

Details of the amount that will be paid for this quarter will be announced January 2021.

Self-employed traders who, for what ever reason, do not qualify for this grant, but are still suffering financial hardship due to COVID disruption, may be able to claim under the Universal Credit.

The SEISS is taxable…

And don’t forget, when you prepare accounts covering any period during which you received an SEISS grant these will need to be added to your taxable earnings in the relevant tax period.

Need help applying?

Please call if you need assistance claiming these additional SEISS grants.

Share:

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Accounting in Sheffield and Doncaster Certificates

Recently Added News

Related News

Government financial support extended

Government financial support for UK businesses affected by the COVID pandemic have been extended in the past week. Thankfully, relief for employees of affected companies

Quick Links

Online References...
Client Testimonials
Meet the Team

Sheffield Office:
2 President Buildings,
Savile Street East,
Sheffield ,
South Yorkshire,
S4 7UQ

Telephone:
0114 272 0306
Fax:
0114 272 6158
email:
sheffield@roystonparkin.co.uk

Opening Hours:

Mon-Wed: 8.30am – 5pm
Thursday: 8.30am – 7pm
Friday: 8.30am – 2pm

Doncaster Office:
3 Railway Court,
Ten Pound Walk,
Doncaster,
South Yorkshire,
DN4 5FB

Telephone:
01302 320444 / 304440
Fax:
01302 342604
email:
doncaster@roystonparkin.co.uk

Opening Hours:

Mon-Thurs: 9am – 5pm
Friday: 9am – 4.30pm