Additional help for the self-employed has been announced – with the final two income support grants available until the end of September 2021.
The fourth taxable grant available through the self-employed income support scheme (SEISS) covers athree-month period from 1 February to 30 April 2021.
As with two of the previous SEISS grants the fourth grant is worth 80% of three months’ average trading profits – paid out in a single instalment of up to £7,500.
Claims for the fourth grant can be made towards the end of April.
The fifth grant covers May to 30 September 2021 – but the amount available depends on loss of
income. Workers whose turnover has fallen by at least 30% can still apply for a grant for up to 80% of profits – up to £7,500 in total.
Those whose income has fallen by less than that can apply for a grant of 30% of trading profits up to a cap of £2,850. Claims for the fifth grant will open in July.
Around 600,000 people missed out on previous grants because they had recently started working for themselves and had not filed a tax return to prove their income status – but those who filed a 2019/20 tax return via self-assessment on or before the extended deadline on 2 March 2021 will be eligible for the new grants.
Speak to our Business Services team on 01223 810100 – to check if are eligible for a grant through the self-employed income support scheme
