Following on from the announcement at the weekend of the extension to the Job Retention Scheme, the government has now confirmed a similar extension for self-employed individuals.
Under the enhanced Self-Employment Income Support Scheme (SEISS), self-employed individuals and members of partnerships will now be able to claim a grant of up to 80% of average trading profits for the month of November. The window for claims will be brought forward from the middle of December to the earlier date of 30 November.
As SEISS grants are calculated over three months, the uplift for November to 80%, along with the 40% level of trading profits for December and January, increases the total level of the third grant to 55% of trading profits. The maximum grant will be capped at £5,160.
To be eligible for the extended grant, self-employed individuals must have been previously eligible for the first and second SEISS grants – although they do not need to have claimed the previous grants. They also need to declare that they intend to continue to trade but;
- have been impacted by reduced demand due to Covid, or;
- were previously trading, but are temporarily unable to do so, due to Covid.
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