29th May 2020 /

Self-employed Income Support Scheme (SEISS) – update

Kobu agency 7okk Fhxrx Nw unsplash

Good news for the Self-Employed who have already made a claim and are still impacted by Covid-19, the Government has extended the Self-Employed Income Support Scheme. We've outlined the changes below;

  • The scheme will remain open to cover a second claim for the months of June, July and August.
  • The individual can make the second claim even if they did not make the first one.
  • Individuals who have not made the first claim have until 13th July to do so.
  • The claim portal will be open in August to make a claim. No specific date as yet has been provided.
  • The claim will be based upon 70%, not 80% up to £6570 covering the 3 month period.
  • The grant is taxable and should be reflected in the accounting period the grant is received.
  • The criteria for the second claim is the same as the first one.
  • Again, the individual has to make the claim.
  • Further information will be released on 12th June.

The full details of the extension for the self-employed scheme are set out here:-

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#extension

M.A.D. Accountants are based in West Bridgford, Nottingham, and are specialists in tax and accountancy assistance for businesses and individuals. We're here to make a difference to your business and your life with no-nonsense, jargon-free advice and help.

Related Posts
View All News

Get in touch to see how we can make a difference to you and your business

Get in touch

Accredited & Experienced